Sudhanshu Vats, Group CEO, Viacom18, and Chairman, National Media and Entertainment Committee, CII,


“Kudos to the government for presenting a disciplined and inclusive budget. The emphasis on rural development and commitment to the fiscal deficit target augur well for the economy in the long-run. The proposal for a more conducive excise duty regime for STBs and other ‘entertainment-access devices’ is welcome. While many of us from the industry were anticipating more sector-specific announcements, I’m sure that this budget will benefit the larger economy and therefore, by extension, have a positive impact on our industry as well.”

Ashish Agarwal, Director – Infrastructure, Equirus Capital

“The Modi government’s commitment to accelerate the pace of investment in the infrastructure sector has been affirmed in this budget with a massive budgetary allocation of Rs.218,000 cr. Exempting SPVs from dividend distribution tax on income to infrastructure investment trusts will massively boost foreign investments through InvIT structure for road, renewable and power platforms and provide the much-needed impetus to M&A transactions in the infra domain. Institutional framework to renegotiate concession agreements and standardization of asset risk evaluation through formulation of a new credit rating system will usher in financial transparency in the sector. Focus on improving last mile connectivity in rural areas in the roads as well as electricity sector will result in improving long term demand.”

 RaviKant Banka, Founder & CMD at Eggfirst Advertising

“The budget is a budget with a rural tilt. It has re-allocation of the budget monies to focus on those in agriculture and those who are relatively underprivileged. The direction of the budget (of appropriate reallocation), while keeping a close check on the fiscal deficit is worth applauding. It will help make robust the foundation of the economy. Increase in Service Tax is a step in the right direction. It’s only a marginal increase and this increased There is a promise of the digital united India which i believe will pave the path for a speedy growth for India. Low inflationary trends are very encouraging too.”

Himanshu Meena, Founder & CEO, Parsel

“Finance Minister’s announcement of 100 per cent tax deduction on profits made by startups in the first 3 years and new laws for ease of doing business will definitely help in promoting the start up culture in the country . The move will not only serve government’s motive to generate employment but it will also act as a catalyst in boosting the morale’s of entrepreneurs. It is also very encouraging to see the governments emphasis to encourage digital literacy to derive benefits from our demographic advantage. Initiatives to  revive the transportation sector will also help hyper local delivery startups like Parsel to provide quality driven service. Overall a progressive budget.”

Manish Kumar, Co-founder & CEO  GREX

“We believe the Union Budget 2016-17 is well aligned with Prime Minister’s ‘Make in India’ and ‘Startup India’ campaign. The budget focuses clearly on growth, development, job creation and creating a better environment for doing business in India. Besides a particular focus on startups by giving them exemption on their profits for the first three years is a welcome move. The relaxation in capital gain tax for investment in Funds of Funds and reducing the time frame to two years from three for availing long term capital gain tax benefit in the unlisted space will further boost the investment in startups. Also keeping the ‘Digital India’ momentum rolling during the budget, introduction of electronic auction platform for the private placement market in corporate bonds is a welcome move.”

Sanjiv Agarwal, Founder & MD, Diabetacare

“As a medical tech startup, we are quite happy with the budget announcement of 3 year tax exemption for startups as well as the overall policy focus on encouraging the start-up environment and improving ease of doing business. On the health front, the National Dialysis Program is very important, and it needs to be implemented properly. Lack of affordable and accessible dialysis centres is a major problem that makes life very difficult for patients of end-stage kidney failure. A large number of patients have to travel long distances for dialysis and it can be very difficult. It is estimated that as many as 2.2 lakh renal patients are added every year in India, and ensuring dialysis centres in every district hospital will be a major relief. There is a direct link between diabetes and renal failure as the insulin disorder makes patients more vulnerable to kidney failure. With a whopping rise in prevalence of diabetes in India, we estimate a subsequent increase in renal failure patients as well. This program is relevant in this light as well. Also encouraging is the health protection scheme of Rs 1 lakh per family.” (Also Read- Budget 2016: Auto sector wants excise on large cars to be reduced to 20 percent)

Kajal Jain (Founder – Ahilya Jewels) 

“While an excise duty of 1% has been levied on gold, diamonds and platinum jewellery, I am relieved that silver has been exempted from this. Since our silver jewellery is largely hand crafted by small scale artisans, they would find it difficult to comply with the same. Being a start up myself, we are glad that ceiling for income has been raised from Rs 1 crore to Rs 2 crore which will facilitate our growth. In addition to this, with the digital literacy scheme to be launched to cover 6 crore additional rural households, in the long term, it is indeed a positive sign for us that will help us increase our potential target audience as an online silver store.”