Dr. K. Anand Kumar, MD, Indian Immunologicals
“I commend the initiatives outlined in the Interim Budget 2024, particularly those addressing women and children’s health. These measures signify a concerted effort to strengthen India’s healthcare system by prioritizing preventive care, expanding access to essential services, and leveraging innovation for better health outcomes.
The decision to provide and actively encourage cervical cancer vaccines for 9–14-year-olds reflects a proactive approach to preventing a significant health burden among young girls. Cervical cancer is the fourth most common cancer in women globally, with millions of cases reported annually. Investing in this preventive measure is poised to reduce the incidence of cervical cancer and its associated morbidity and mortality rates in the future.
The budget has also allocated INR 1 lakh crore towards establishing a corpus, offering a 50-year interest-free loan to scale up research and innovation significantly in sunrise industries. This allocation presents a promising advancement within the vaccine industry. It allows for the integration of new-age technologies in vaccine development processes, especially for mRNA and Adenoviral vector vaccines.”
Prem Kumar Vislawath, Founder and CEO, of Marut Drones
“It’s reassuring to hear the honorable FM prioritize agriculture as a key area of focus in her budget speech. She stressed the push for widespread adoption of modern farming techniques. The FM also mentioned the empowerment of ‘Annadatas’, our farmers, as an important goal. Agricultural drones can play a crucial role in minimizing risks while maximizing revenue for our farmers. The introduction of the Nano DAP class of fertilizers in all agro-climactic zones FM mentioned is also exciting for us, as Marut drones are specially equipped for that. Farmer-centric policies with the government encouraging embrace of modern technology through start-ups will go a long way in helping rural parts of the country grow to their full potential.”
Chandra Chandragiri, CFO, CriticalRiver Inc.
“I view the Union Budget 2024 with optimism, particularly given the government’s vision of the next five years being years of unprecedented growth. This forecast sets a positive tone for the IT sector, promising expansive opportunities. The budget’s emphasis on the Skill India Mission, with over 1.4 crore youth trained to become job-ready, is especially promising for us. This initiative not only enlarges the talent pool available to the tech industry but also aligns with our need for skilled professionals in emerging technologies. Overall, the budget presents an opportunity to strategically position our company to leverage the anticipated growth and drive innovation.”
Radhika Choudary, Co-Founder, Freyr Energy
“The Budget 2024 has unveiled the Vision for Vikasit Bharat, emphasizing a harmonious relationship with nature. The government is actively promoting inclusive sustainable development through initiatives such as rooftop solar, as outlined in the Finance Minister’s speech. Anticipating new guidelines and incentives under the ‘Pradhan Mantri Suryodaya Yojana,’ the industry is optimistic about India’s rooftop solar energy transition.
The commitment to rooftop solarization and providing free electricity to one crore households is expected to infuse competitiveness and innovation into the solar sector. With the potential to contribute significantly to achieving the government’s target of making India net zero by 2070, this boost is poised to generate employment opportunities for the youth engaged in manufacturing, installation, and maintenance within the solar industry. The interim budget has successfully unlocked the true economic potential of India’s rooftop sector.”
Rev. Daaji (Kamlesh D. Patel) – Guide of Heartfulness and President of Shri Ram Chandra Mission
“It is heartening to see that spiritual and conference tourism has been on the rise since last year and that the focus is very much there on this area in this year’s budget too. The Indian Government is making provisions for spiritual pilgrimage through Pilgrimage Rejuvenation and Spiritual Heritage Augmentation Drive or PRASAD Scheme and I think it is a great milestone. People from around the world are flocking to centers in India like Kanha Shanti Vanam that enable inner transformation. Last year alone Kanha Shanti Vanam had half a million footfalls. There are new airports in the pipeline, better connectivity and accessibility by road, rail, or air, and better infrastructure and technology connecting cities through tier 1, 2, 3, and 4. It can help generate more livelihoods and create an ecosystem as an economic booster. This is a remarkable time for the tourism sector with visitors globally who want to come to India to explore and benefit from spiritual tourism here.”
Satyendra Prasad Narala – Managing Director, Regency Ceramics
“The government’s initiative to facilitate homeownership for the middle class is a commendable step toward inclusive growth. Moreover, the commitment to construct another 2 lakh houses and providing over seventy percent of these houses under PM Awas Yojana to women as sole or joint owners not only enhances their dignity but also promotes gender equality in rural housing development. These two schemes are a big positive for the building materials industry.
Regency has always been a trusted supplier of tiles for most government schemes and with innovative manufacturing practices will provide natural tiles at lower prices with better durability to the beneficiaries of these two schemes. We welcome these transformative measures for a brighter, more equitable future, and a flourishing ceramic tiles sector.”
Karun Tadepalli – CEO and Co-Founder, byteXL
“We commend the government’s efforts in improving the education sector under the National Education Policy. This forward-thinking approach has led to an increase in female enrollment in higher education by 28 percent and in STEM courses by 43 percent. As the government is also aiming to promote medical education with new medical colleges, they might bring in more enrollments from female candidates.
It is encouraging to see that under the Skill India Mission, the government has trained more than 1.4 cr people, and 54 lac more are undergoing the upskilling and reskilling programs. This will not only help in the overall technological knowledge growth of the country but also will lead to key innovations and developments. This will assist in increasing digital literacy and help in reducing the digital divide”
Binu Jacob – MD and CEO, Experion Technologies
“As we assess the Union Budget for 2024, it’s crucial to acknowledge certain aspects that merit attention. While the government’s recognition of the importance of education and skill development in the youth is commendable, sustaining and expanding these efforts is imperative, especially considering the prediction that 20% of the global labor force will be supplied by India by 2047. The continuation of educational investments is a necessary step, and we hope to see tangible outcomes.
The expansion of airports and railway corridors, particularly in tier II and III cities, has potential benefits for accelerating the growth of Global Capacity Centres in states like Kerala. However, the impact of such infrastructure initiatives needs to be monitored closely, considering the challenges associated with execution and long-term sustainability.
The promise of interest-free loans for research and development in sunrise sectors is a positive note. It holds the potential to stimulate innovation and drive the startup ecosystem – I am particularly excited to see how the youth will make use of this opportunity to set up and grow startups in emerging tech like AI. Yet, the execution and accessibility of these opportunities will be critical in determining their actual impact on the ground.
The focus on ensuring the welfare of farmers and the agriculture sector is a step in the right direction. It remains to be seen how effectively these measures will address the complex challenges faced by the agricultural sector and whether they will lead to tangible improvements for farmers – what would make a real difference in bringing about policy changes that will enable the export of our produce. Export controls need to be unblocked and we need to work on an inter-governmental level to have our produce accepted internationally.
In our march to becoming a 7 trillion dollar economy by 2030, we need to focus on continuance in policies for infrastructure development, which will, in turn, improve supply chains and thereby lower costs for global competency”
