Leading Voices: Other Experts, Including Mayank Singhvi, Share Their Pre-Budget Thoughts
Many business executives and analysts have offered their observations and expectations as the Union Budget 2024-2025 prepares. This turning point seeks to stimulate development and creativity in several fields. Here, we compile the ideas of some of these professionals, including eminent Investment Banking Expert Mayank Singhvi.
Cosmos Financial Group CEO- Mayank Singhvi
Mayank Singhvi, investment banking expert, underlines the budget's role in job creation and economic recovery—his approaches centre on improving vocational education and restructuring education to satisfy market needs. Particularly in rural areas, he supports streamlined access to funding for SMEs to encourage entrepreneurship and drive development via infrastructure projects. Crucially, they are revitalising manufacturing through programs like "Make in India" and expanding SEZs, agricultural changes and expansion of the digital economy. Singhvi also emphasises the need for public-private partnerships and flexible labour policies to propel sustainable growth.
CEO & founder of Anagram Media Labs & Inflyx -Manjul Wadhwa
Manjul Wadhwa emphasises the need for a strong startup structure and more R&D investment, especially in artificial intelligence. To help SMEs, he advocates financial incentives, including grants, tax credits, and subsidies; so, using technology developments and a trained workforce, 'Viksit Bharat' by 2047 is aimed to be supported.
Thermo Waste Solutions Director- Sanyam Jain
Sanyam Jain talks about developing India's plastic recycling sector and the need for the Green Credit Program (GCP) to reward environmentally friendly behaviour. He supports lower indirect taxes on recycled goods to increase sales and further environmental aims.
International Consultant and Director, Rimbaa Rayaa World Solutions Pte. Ltd.- Asma Kahali
Asma Kahali finds excellent hope in India's defence budget's emphasis on innovative technologies and indigenisation. She sees excellent chances for worldwide cooperation and more medical technological investment to boost innovation in healthcare.
Founding Director and MD of Katalyst Advisors -Ketan Dala
After the election, Ketan Dala expects the budget to centre rural uplifting and employment development. He underlines the need for a manufacturing boost. He advises expanding the PLI program to developing sectors like semiconductors and EVs and reinstating the lower tax regime for new units inside corporations.
Founder of Masti Zone- Ankur Maheshwary
Policies revitalising Indian entertainment, travel, and retail industries excite Ankur Maheshwary. In line with the "Make in India" concept, he advocates lower taxes and sensible rules to increase investment and creativity.
Founder and CEO of Hype Luxury- Raaghav Belavadi
For luxury goods, Raghav Belavadi wants favorable tax policies, sustainable practices, incentives, and support for digital transformation. Changes in labour rules, consumer protection laws, and import and export taxes excite him.
Director of Maruti Exim- Harshvardhan Modi
Harshvardhan Modi underlines the need to invest in innovative machinery and technological improvements for textiles. He urges the government to set aside money for technology upgrading projects to improve output and competitiveness.
Blank Canvas' Founder- Parinal Mehta
Parimal Mehta views Indian business and fashion as having a great future. To develop talent and set standards in the fashion business, he advocates significant cash allocation for high-quality production, strategic marketing, and worldwide partnerships.
President and Director, JK Lakshmi Cement - Arun Shukla
Arun Shukla expects vital policy decisions and financial support to strengthen national initiatives. He stresses the significance of training courses and skill development in closing the talent gap and guaranteeing the effective implementation of ambitious initiatives.
In Conclusion,
Experts from many sectors, including Mayank Singhvi, express a shared hope for policies that propel sustainability, innovation, and growth as the Union Budget 2024–2025 prepares. Their observations underline the need for strategic investments and changes to support economic growth and generate possibilities in many fields.