Time bound and transparent implementation is a key to scheme's success, Says Imaan Javan
One of the heartening features of the Union budget is its provision for the use of renewable energy sector of Rs22,000cr. We welcome the decision which reflects the Union government's commitment and concern for renewable energy generation.
Union Finance Minister Nirmala Sitharaman deserves praise for this innovative measure which will widen the scope of the PM-KUSUM scheme and enable farmers to set up grid-connected solar power generation capacity on barren land and renewable energy sector as a way to address pollution and climate change, poverty and give the farmers their livelihood.
We hope this will give boost to the agriculture sector, and help generate employment as well in rural India. Time-bound and transparent implementation will ensure the scheme's success.
Imaan Javan, the Director of Operations at Suntuity Renewable Energy India
Budget quote from gold industry
Positive Budget for Gold Industry, says Prithviraj Kothari, Director of Riddhi Siddhi Bullions Limited (RSBL)
This is an excellent budget for the gold industry and the government's initiative for gold exchange is also exceptional. Previously, in order to buy gold one had to pay customs duty. Now, with this budget, one can even trade internationally and transact in rupees without paying a penny in tax. It’s also a great budget for bullion stock exchange, bullion bank arena and GIFT City, Ahmadabad. The doors of the Gujarat International Finance Tec (GIFT) City has been opened. The government replicated a Chinese-like model in the GIFT City, which will make trade an easy possibility. In India, now people who are in the business of gold, can trade in GIFT City in dollars as well as rupees. GIFT city has now become a role model as along with international markets, even Indians can participate and this will in turn have positive impact on the gold industry.
Prithviraj Kothari, Director of Riddhi Siddhi Bullions Limited (RSBL)
Quote from Hospitality Sector
Budget increased for hospitality sector, but there could have been a better announcement, says Arjun Raj Kher, Brand Head of Hitchki and Bayroute
There has definitely been an increase in the budget allocation for the Tourism and Hospitality industry, from 1416 cr in FY 19 to 2500 cr this fiscal year, but since this is one of the fastest growing industry, there could have been a better announcement. Some positive changes have also been announced such as concession in corporate tax rate, which will be beneficial, help us to remain competitive in the market and also help create maximum employment. A proper budget has also been set aside for food processing sector, which will boost the rural economy.
Arjun Raj Kher, Brand Head of Hitchki and Bayroute
Quote from Social Sector by Shikha Mittal, Founder Director Be.artsy
It is a welcome step that the govt has once again increased the allocation for women related programs, which is now ₹28,600 crore. There is a lot that can be done to increase awareness among workers, labour and office staff to sensitise them to women's safety in the workplace. A good start has been made with the guidelines laid down by the Ministry of Women and Child Development on training programs to prevent and redress issues of sexual harassment at the workplace. Now, this needs to be carried to the grassroots by impactful programs. There is a lot of scope, since the budget has not been fully utilised in earlier years. Be.artsy has had great success with its IT'S NOT OK campaign to prevent sexual harassment by educating and sensitising the workforce. We have executed this campaign in 9 languages, covering 25,000+ people in five States all over India. We look forward to working with the government on this important aspect of women's safety.
Quote from Global Charity Sector
Grassroot level transformation in implementation and impact reporting is crucial for the largely positive and progressive budget, says Mr. Shravan Charya, Founder, SocioLadder
Out of the many topics in the division of three prominent themes laid down by the Government, it is praiseworthy that sectors such as Agriculture, Irrigation and Rural Development; Wellness, Water and Sanitation; Women & Child Social Welfare and Environment and Climate Change also form a crucial part of the Union Budget, 2020. There is an emphasis on climate change and women, child and social welfare. Grassroot level implementation and its effective reporting is imperative to realize the ambitious budgetary allocation into viable developmental impact.
Shravan Charya, Founder, SocioLadder