Union Budget 2020 Expectations from brands in India
1. Acuver Quote:
Sunny Nandwani, Founder, Managing Partner- Acuver
The Budget 2019, was a power booster for the supply chain industry, that was inspired by the ambition of making India a $ 5 Trillion Economy by the year 2025. The cost of transportation was reduced, new-age technologies were given a green-flag, and a massive investment of 100 crores for infrastructure development was announced. So the expectations from the 2020 budget increased, as it is expected to act as a recalibration considering the new economic environment in India.
Many Retailers, E-commerce companies plan to create deep-rooted capabilities within their supply chains, which can be later leveraged to adapt to the new budget. Investments for resolving impending issues in the supply chain sector like countering any threats of supplier disruptions, volatility in foreign exchange markets and commodity prices will strengthen the ground of India’s stand in the global market.
Acuver, as an IT service provider to its clients, especially in the supply chain dominion, expects that the new budget will act as an enabler of technological progress in the industry and create a striking balance in between cost competitiveness and economic foresight. We look forward for policies that enhances consumption power of consumers, addresses infrastructure improvement that improves reachability.
Aditya Agarwal, Co-Founder - Wealthy:
"All eyes are on the Union Budget 2020. Given the current status of the economy, reviving investments and consumption demand is key to restore the confidence of both the common man and market entities. This would help investments to flow in and provide a much-needed boost to the economy.
It would be in the country’s best interest to focus on investment options for big budgets. We are hoping for the government to accord Cat 3 AIFs with a tax pass-through status and simplify NRI participation in our financial market via Equity Mutual Funds, Debentures and other market-linked instruments. The under penetration of the insurance industry is also an opportunity that can be leveraged. Creating a central repository of insurance policy data through PAN would be beneficial in taking insurance to the nooks and crannies of India where it is required the most. A reduction of GST on Health Insurance would also prove to be a positive enabler in this regard."
3. Zeva Astras:
Basavaraj Puttappa, Founder and CEO - Zeva Astras:
“In the wake of recent developments, it is apparent that the economy is showing signs of a slowdown. The government is on the ‘disaster management’ mode to get the economy back on track. Given the situation, the Budget is expected to focus on immediate measures to propel the economy towards growth. The government has already reduced corporate taxes and might also consider cutting down personal taxes. Such a move will increase consumption levels and stabilize the economic slowdown. However, this would increase the fiscal deficit and might put inflationary pressures on the economy. Thus, along with the tax relaxations, the government can push-up the tax exemption levels on long-term capital gains. Formulating such a strategy would increase investment and boost the capital market.”