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The 2024 budget places an emphasis on small businesses but has received mixed reactions overall.




The Union Budget 2024, presented by Finance Minister Nirmala Sitharaman, has elicited a range of responses from industry leaders and startup founders. While the government's efforts to support India's technology sector and foster innovation have been welcomed, some aspects have been debated.

Bharath Aitha, Vice President of Marketing at eInfochips, commended the budget's emphasis on strengthening public-private partnerships and bridging the gap between academia and industry. He highlighted the focus on job creation and internships in various technological fields as particularly promising. Aitha praised the government's commitment to substantial investments in workforce training and upskilling, viewing it as crucial for maintaining India's momentum and securing its position as a global technology leader. He also noted the budget's funding for AI research grants, which could drive progress in areas like computer vision and natural language processing—fields in which eInfochips excels. Aitha expressed eagerness to collaborate with government bodies and academic institutions to maximize the benefits of these grants.

Divyesh Dalal, Managing Director & Head – Global Transaction Services, SME & Institutional Liability Business at DBS Bank India, remarked that the budget's measures reflect the government's dedication to empowering MSMEs, which are vital to the economy. He called the introduction of the credit guarantee scheme a positive step towards improving capital accessibility. Dalal also highlighted the provision of collateral-free term loans for machinery and equipment purchases, which will significantly enhance MSMEs' operational capabilities by enabling technological upgrades.


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