Jul 17, 2024, 6:32 pm IST
EV WishList In Budget 2024
Atul Aggarwal, Managing Director, Sterling Tools Limited: The upcoming Union Budget carries significant expectations as the first budget of the current government's third tenure post the recent Lok Sabha elections. Central to these expectations is the focus on expanding the electric vehicle ecosystem within the Indian auto industry. A pivotal aspect of this budget should be the facilitation of battery cell manufacturing and large-scale battery operations, crucial for bolstering EV infrastructure and inspiring greater confidence in EV adoption. Accelerating the transition to EVs is imperative for India to achieve its net-zero targets, underscoring the need for rapid enhancement and development of EV infrastructure. The forthcoming budget must prioritize furthering this infrastructure to ensure swifter EV adoption across the nation. We anticipate the government to introduce compelling schemes that enhance the competitiveness of electric vehicles. As user demand grows, it will drive up volumes in the electrical industry, fostering cost efficiencies and rendering subsidies unnecessary over time. This approach promises to build a self-sustaining EV ecosystem, pivotal for the future of manufacturing in India. Our policies and budget implementation need to be focussed with the mission of making our country as a global hub for EV component manufacturing.
Jul 17, 2024, 5:43 pm IST
Budget 2024 Live Updates: Dishi Somani, Founder, DishiS Designer Jewellery
"I believe that continued focus on similar initiatives will catalyze positive transformations in this sector. Additional support in the form of tax incentives, grants, and skill development programs will further empower us to grow in the competitive landscape."
Jul 17, 2024, 5:42 pm IST
Budget 2024 Live Updates: Dishi Somani, Founder, DishiS Designer Jewellery
“I expect the government to bring some more good news for the startup sector. As a woman entrepreneur in the startup space, I am encouraged by the extension of 34 crore Mudra Yojana loans to women entrepreneurs announced in the interim budget 2024."
Jul 17, 2024, 5:01 pm IST
Budget 2024 Live Updates: Budget 2024 Live Updates: Ravi Gupta, Creative Director of Gargee Designer's
"The RoSCTL scheme has already proven to be a crucial mechanism in offsetting various embedded taxes, thus enhancing the cost-effectiveness of our products. We are committed to leveraging these governmental initiatives to further boost our growth and contribute to the national economy.”
Jul 17, 2024, 5:01 pm IST
Budget 2024 Live Updates: Budget 2024 Live Updates: Ravi Gupta, Creative Director of Gargee Designer's
"The Cabinet's recent approval for the continuation of the Rebate of State and Central Taxes and Levies (RoSCTL) scheme for apparel and garment exports until March 31st, 2026, is a particularly positive move."
Jul 17, 2024, 4:33 pm IST
Budget 2024 Live Updates: Deepak Kumar, Co-founder and Director of Kinu
"The government’s commitment to nurturing entrepreneurial dreams through initiatives like PM Mudra Yojana, sanctioning 43 crore loans totaling Rs. 22.5 lakh crore, along with the support from Fund of Funds, Startup India, and Startup Credit Guarantee Schemes, reflects an organized effort to empower the youth."
Jul 17, 2024, 4:33 pm IST
Budget 2024 Live Updates: Deepak Kumar, Co-founder and Director of Kinu
"The Finance Minister's statement regarding the significant improvement in the Indian economy over the past ten years strikes a deep connection with the spirit of entrepreneurship that pushes the retail and startup industries."
Jul 17, 2024, 4:10 pm IST
Budget 2024 Live Updates: Sachin Sharma, Founder and Director - GEM Enviro Management
"Streamlining the supply chain for e-waste and plastic waste is essential. This will foster a robust ecosystem where manufacturers, industry players, and recyclers can collaborate more effectively."
Jul 17, 2024, 4:09 pm IST
Budget 2024 Live Updates: Sachin Sharma, Founder and Director - GEM Enviro Management
"To truly advance India's circular economy goals, the government must encourage and support waste management agencies that are diligently working in this field."
Jul 17, 2024, 4:09 pm IST
Budget 2024 Live Updates: Sachin Sharma, Founder and Director - GEM Enviro Management
"Inadequate waste collection infrastructure and inefficient sorting and recycling systems continue to hinder progress. Valuable materials are still being discarded in landfills instead of being diverted for reuse."
Jul 17, 2024, 3:36 pm IST
Budget 2024 Live Updates: Sanjay Borkar, CEO & Co Founder, FarmERP
"The industry also urges the government to enhance digital infrastructure in rural areas, recognizing reliable internet connectivity as crucial for farmers to access modern agricultural tools and platforms."
Jul 17, 2024, 3:36 pm IST
Budget 2024 Live Updates: Sanjay Borkar, CEO & Co Founder, FarmERP
"Establishing additional research and development centers focused on agricultural technology will foster innovations and provide practical solutions for farmers and agribusinesses."
Jul 17, 2024, 3:24 pm IST
Budget 2024 Live Updates: Sanjay Borkar, CEO & Co Founder, FarmERP
"Enhanced funding for technology adoption is critical, with increased investments in AI, machine learning, and blockchain needed to revolutionize farming practices, enhance productivity, and ensure sustainable growth."
Jul 17, 2024, 3:23 pm IST
Budget 2024 Live Updates: Sanjay Borkar, CEO & Co Founder, FarmERP
"The Agritech industry holds high expectations for advancements in new-age technologies and the integration of sustainability within agriculture."
Jul 17, 2024, 2:58 pm IST
Budget 2024 Live Updates: Srinivasa Addepalli,Founder and CEO, GlobalGyan Leadership Academy
"Continuous learning and upskilling are imperative for professionals to navigate evolving market dynamics and technological advancements. Encouraging investments in skill certifications and leadership development programs through tax relief measures can boost readiness."
Jul 17, 2024, 2:57 pm IST
Budget 2024 Live Updates: Srinivasa Addepalli,Founder and CEO, GlobalGyan Leadership Academy
"Government support in incentivizing internships and apprenticeships will be pivotal in equipping our workforce with practical experience and readiness for employment upon graduation."
Jul 17, 2024, 2:36 pm IST
Budget 2024 Live Updates: Saikat Marik, Founder of Indian PR Distribution (IPRD)
"The upcoming budget is expected to further emphasize digital infrastructure and technology-driven industries. As our economy becomes increasingly digitalized, we foresee a growing need for skilled professionals in IT, data analytics, and digital marketing."
Jul 17, 2024, 2:36 pm IST
Budget 2024 Live Updates: Saikat Marik, Founder of Indian PR Distribution (IPRD)
"We anticipate the 2024-2025 budget to continue its focus on job creation through strategic allocations. Investments in upskilling programs and infrastructure development are likely to boost employment opportunities across sectors."
Jul 17, 2024, 1:17 pm IST
Budget 2024 Live Updates: Krishan Mishra, CEO, FPSB India
"Emphasizing the importance of health and life insurance in the budget, beyond just tax savings, will help people understand the importance of the two investments."
Jul 17, 2024, 1:17 pm IST
Budget 2024 Live Updates: Krishan Mishra, CEO, FPSB India
"With rising incomes, increasing the tax exemption limit from INR 7.5 lakh to INR 10 lakh will be a crucial step to encourage savings and investments among the mid-income group. It will provide much-needed relief to taxpayers and stimulate financial planning."
Jul 17, 2024, 12:35 pm IST
Budget 2024 Live Updates: Sachin Jain, Country Manager, ETS India and South Asia
"We urge the Ministry of Education to broad base acceptance for global admission tests and partner International agencies who can help to bring in international students."
Jul 17, 2024, 12:35 pm IST
Budget 2024 Live Updates: Sachin Jain, Country Manager, ETS India and South Asia
In line with the Government’s focus on the ‘Study in India’ programme – there is a need for showcasing academic standing and rigour of Indian higher education institutions (HEIs). There is also a need to make admissions to these HEIs more accessible and streamlined for foreign nationals."
Jul 17, 2024, 12:15 pm IST
Budget 2024 Live Updates: Suman Bannerjee, CIO, Hedonova
"Key sectors such as infrastructure, manufacturing, and technology are hopeful for incentives and support to drive sustainable development."
Jul 17, 2024, 12:15 pm IST
Budget 2024 Live Updates: Suman Bannerjee, CIO, Hedonova
"We expect that the budget will introduce policies aimed at stimulating investment, fostering innovation, and driving overall economic growth."
Jul 17, 2024, 12:15 pm IST
Budget 2024 Live Updates: Suman Bannerjee, CIO, Hedonova
"The potential reduction in income tax rates and the increase in the income threshold to ₹5 lakh are expected to significantly benefit the middle class by enhancing disposable incomes and boosting consumer spending."
Jul 17, 2024, 11:49 am IST
Budget 2024 Live Updates: Heeralal Doshi, Founder and Chairman at Kinjal Group
"The upcoming budget is also set to focus on smart cities, renewable energy, and high-speed rail, aiming to modernize infrastructure and drive economic growth.”
Jul 17, 2024, 11:49 am IST
Budget 2024 Live Updates: Heeralal Doshi, Founder and Chairman at Kinjal Group
"The introduction of a single window approval system for real estate construction would also streamline processes, reduce delays, and boost efficiency across the sector. The EPC sector in India needs more investments and clearer regulations to thrive."
Jul 17, 2024, 11:48 am IST
Budget 2024 Live Updates: Heeralal Doshi, Founder and Chairman at Kinjal Group
“"With the growing demand for housing, offices, and commercial zones, we hope for tax incentives and infrastructure upgrades to improve urban living and boost growth in emerging areas."
“"With the growing demand for housing, offices, and commercial zones, we hope for tax incentives and infrastructure upgrades to improve urban living and boost growth in emerging areas."
Jul 17, 2024, 10:55 am IST
Budget 2024 Live Updates: Kaushal Agarwal, Chairman, The Guardians Real Estate Advisory
"We look forward to collaborative efforts with the government that will address longstanding challenges and propel urban development across the country"
Jul 17, 2024, 10:54 am IST
Budget 2024 Live Updates: Kaushal Agarwal, Chairman, The Guardians Real Estate Advisory
"Granting 'industry status' to housing and implementing a streamlined single-window approval system will further boost efficiency and attract more investments."
Jul 17, 2024, 10:54 am IST
Budget 2024 Live Updates: Kaushal Agarwal, Chairman, The Guardians Real Estate Advisory
"Key measures such as extending the Credit Linked Subsidy Scheme (CLSS), providing tax holidays, and revising base prices are crucial for enhancing affordability and stimulating investment in housing."
Jul 17, 2024, 9:45 am IST
Budget 2024 Live Updates: Prassann Daphal, CEO, Recyclekaro
"Another crucial expectation is higher funding for research and development of battery recycling infrastructure and technologies. Improving domestic battery recycling capabilities and lab space can help the local industry expand while lowering reliance on imports."
Jul 17, 2024, 9:45 am IST
Budget 2024 Live Updates: Prassann Daphal, CEO, Recyclekaro
"It is anticipated that the budget would include further incentives for renewable energy initiatives, such as battery recycling, which is essential to the clean energy transition and the circular economy."
Jul 17, 2024, 9:45 am IST
Budget 2024 Live Updates: Prassann Daphal, CEO, Recyclekaro
"Production-Linked Incentive (PLI) Scheme: A specialised PLI plan for recycling lithium-ion batteries is being pushed. With the support of this program, the recycling industry would be encouraged to grow and make a substantial contribution to India's sustainability objectives."
Jul 17, 2024, 9:44 am IST
Budget 2024 Live Updates: Prassann Daphal, CEO, Recyclekaro
"Extension of FAME II Scheme: Stakeholders in the industry are pushing for the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) program to be extended and possibly expanded."
Jul 17, 2024, 9:44 am IST
Budget 2024 Live Updates: Prassann Daphal, CEO, Recyclekaro
"The Goods and Services Tax (GST) on waste lithium-ion batteries is expected to be lowered from 18% to 5%, in line with the GST rate on lead-acid batteries. With this adjustment, the inverted duty structure will be corrected and recycling processes will become more economically viable."
Jul 17, 2024, 8:47 am IST
Budget 2024 Live Updates: NP Ramesh, COO and Co-Founder of Orb Energy
"The removal of anti-dumping duties on raw materials for solar modules is crucial to enhancing manufacturing competitiveness and reducing dependency on imports."
Jul 17, 2024, 8:47 am IST
Budget 2024 Live Updates: NP Ramesh, COO and Co-Founder of Orb Energy
"For commercial and industrial (C&I) sectors, increasing depreciation benefits to 60-80% from the current 40% will incentivize substantial investments in solar installations, bolstering sustainability efforts across businesses."
Jul 17, 2024, 8:47 am IST
Budget 2024 Live Updates: NP Ramesh, COO and Co-Founder of Orb Energy
"Key priorities include enhancing residential solar adoption with proposed personal income tax benefits up to 3 lakhs. This can be considered instead of current subsidy of Rs.78,000."
Jul 17, 2024, 8:37 am IST
IMF Hikes India’s FY25 GDP Estimate By 20 bps to 7%
The International Monetary Fund raised India's growth forecast for 2024-25 to 7% from 6.8% on the back of improving private consumption, particularly in rural India.
Jul 17, 2024, 8:31 am IST
FM Kicks Off Budget Preparations With Traditional 'Halwa' Ceremony
On Tuesday, July 16, Finance Minister Nirmala Sitharaman took part in the traditional 'halwa' ceremony at the North Block in New Delhi. This ceremony marks the beginning of the final stages of preparing the Union Budget 2024-25. The longstanding ritual involves preparing and distributing halwa to the finance ministry officials and staff involved in the budget's formulation.
Jul 17, 2024, 8:29 am IST
Kaushal Agarwal, Chairman, Guardians Real Estate Advisory
Granting 'industry status' to housing and implementing a streamlined single-window approval system will further boost efficiency and attract more investments.
Jul 17, 2024, 8:27 am IST
Budget 2024 Live Updates: Anunaya Chaubey, Provost, Anant National University
"We expect the budget to financially aid a teaching approach that encourages creative and critical thinking in school students, fosters an interdisciplinary understanding of community, integrates technology and prepares individuals to become adept problem solvers."
Jul 17, 2024, 8:26 am IST
Budget 2024 Live Updates: Anunaya Chaubey, Provost, Anant National University
"We hope that the final budget continues to focus on this aspect while supporting NEP 2020, which recommends the importance of nurturing critical thinking and creativity in education at an early stage."
Jul 17, 2024, 8:26 am IST
Expectations From The Market Amidst Heightened Volatility?
All eyes will be on how the government plans to harness the current economic momentum while addressing underlying concerns about market valuations and economic fundamentals.
Jul 17, 2024, 8:24 am IST
Govt Likely To Scale Down Fiscal Deficit Target To 5% Or Less In Budget: ICRA
The government is likely to lower fiscal deficit to 4.9-5 percent of the GDP for this financial year in the upcoming Budget aided by revenue buoyancy.
Jul 17, 2024, 8:22 am IST
Rakesh Goyal, Director Probusinsurance.com
Budget holds promise for the insurance sector, potentially ushering in reforms that could make health insurance more accessible and beneficial for millions.
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