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Sunday , 21 April 2024

Budget Reaction

Udaya Bhaskar Rao Abburu, CEO & Managing Director, iRam Technologies

We welcome the budget. Finance Minister Nirmala Sitharaman has announced a series of measures to promote the power and Infrastructure sector, and we as a company are looking forward to its future scope.

iRAM would be standing with finance minister’s initiative to make the industry and commerce sector more technologically enabled with an emphasis on building Smart Cities, as well as the reforms that will be added in the development and infrastructure policies. We will be working with the government to drive the Smart City growth initiative through deployment of our various IoT based smart systems.

Furthermore, the budget allotted for the Infrastructure and renewable sector will aim at creating a more holistically developed, technologically driven future of the country, and iRAM Technologies, as an IoT based company, hopes to keep up to par and additionally support the government in creating a new, smart India.


Rajeev Chaba, President & Managing, MG Motor India 

We welcome the budget announcements aiming to lift the overall consumer sentiment and bring the economy back into the growth trajectory. The tax reforms being undertaken to boost income levels and the steps taken towards Make in India are also encouraging. Furthermore, we also applaud the proposal to encourage and incentivise States that are formulating plans for ensuring cleaner air. However, we feel that the customs duty hike on EVs assembled in India from 10% to 15% is a bit harsh, as this may impact the nascent category which was beginning to expand off late.



Alain Spohr, Managing Director of Alstom India and South Asia

First budget of the decade had tremendous expectations and the finance minister has presented a well-laid roadmap to meet them. The focus on leveraging technology and boosting transport infrastructure coupled with worthy goals of reducing emissions are laudable. However, the government could have done more to promote localisation and Make in India.

Creation of five smart cities and modernizing transport infrastructure with a Rs 1.7 lakh crore allocation are commendable. Plus, the progressive initiatives by the Railways of promoting solar energy, upgradation of railway stations, electrification of tracks and operating 150 Tejas-like trains through the PPP model are welcome steps. The Bengaluru suburban transport project and the high-speed train between Mumbai and Ahmedabad will improve connectivity between important commercial hubs. All these initiatives taken together will improve opportunities for all.


Himanshu Chaturvedi, Chief Strategy Officer, Tata Projects Limited

Accelerating India’s Progress is the common intent of the Government and Tata Projects Ltd. The Union Budget 2020 is positive since it has taken serious and concerted efforts towards creating an enabling environment that brings together public and private players thereby creating mutual synergies geared towards achieving national developmental objectives. More such initiatives towards ensuring better-tendering processes, quicker payment mechanism and lower-cost funds are needed to spur the infrastructure and construction sector but this is a good beginning. We are certain that the government will chalk-out more such positive initiatives in near future after consultation with all industry stakeholders.



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