Union Budget 2021: How Heads of Technology Companies in India Rate it
2021–2022 finance budget has been presented by Finance Minister, Ms. Nirmala Sitharaman on 1st February 2021in the midst of the COVID-19 pandemic. The previous year was a non-standard year concerning the activities of the government finances and economy. In this regard, the finance budget evaluates for the years 2021–2022 has been analyzed by India’s well-reputed technology organizations.
All the multinational business tycoons and renowned tech experts of India have joined into a single platform to share their thoughts and ideas to critically evaluate this coming financial budget.
1. Managing Director and Vice President of Intel India, Prakash Mallya:
The first-ever virtual Union Budget 2021 emerged for its determining objective on financial recovery through broader spending and comprehensive development opportunities. In particular, the allocation of Rs. 50,000 crores for the upcoming five years on the National Research Foundation to motivate the country’s potential research activities as a worldwide innovation hub is the most interesting factor. It will work as a driving force to the Indian innovation sector and will help us to concrete our position as a leading economy on the world map. Intel Corporation of India sticks to its promise to associate with the Indian Government throughout the upcoming journey of technology advancement and innovational growth.
This financial budget intricately focused on healthcare infrastructural development is also very engrossing. Configuring a strong healthcare system, technology plays a crucial role to spread medical resources and universal medical access to all corners of the country. Following the past financial year, this year also refocused on the development of digital media learning and incorporating more digital platforms in teaching, educational planning. Ensuring high-quality education, National Digital Educational Architecture (NDEAR) focuses on online learning modules and the digital training process. Apart from the educational sector, the growth of MSME sectors has been highly struck out in this financial budget.
2. Managing Director of HP India Market, Ketan Patel:
This financial year’s budget confirms Government’s determination on enhancing technological skills and infrastructure that will help to prosper India’s economy in both short and long-term aspects. The primary initiatives to create a virtual education system and digital infrastructure that announced by the Government’s budget proving to be a stepping stone towards the increment of human capital. Collaboration with International businesses and organizations will become a robust decision to adopt new skills for youth in terms of international job requirements. It will also help the young generation to be ready in global aspect. Expression of the National Digital Educational Architecture (NDEAR) is the first pace to develop a Digital mindset throughout the education sector. It will support teachers to pursue new skills to teach students with the all-new pattern.
3. Managing Director & CEO of Lenovo India, Rahul Agarwal:
In the post-covid-19 pandemic, the six pillars of the Financial Budget 2021 offer extensive importance to economic development and demonstrate a futuristic view for this coming year. It has enabled to address various key factors of Indin educational system, Atmanirbhar Bharat, Make in India project that paved multiple business opportunities for International corporate sectors. The PLI scheme announced by the Government and giving immense importance to ‘Make in India’ inspires thousands of local production companies and supports the PC manufacturer to build up their market.
4. General Manager of TCL India, Mike Chen:
THE latest PLI scheme announced by the Central Government is immensely important for all technological growth. It helps to swift the duty that implemented on raw materials is for the benefit of the companies. In terms of taking Transformative measures, an organization should be involved in incentive policies. 25% of the country’s GDP is contributed by different kinds of industries.
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5. Managing Director of BenQ India, Rajeev Singh:
After the sheer havoc of COVID 19, Government has presented a well significant financial budget to overcome the disastrous situation of the economy and infrastructure. This year’s budget has been solely made to encourage the economy of the country by pushing forward the symbolic ‘Atmanirbhar Bharat’ scheme. Subsequently, the no changing plan of direct taxes on companies is also appreciable and a moderate decision have taken. This budget resembles spending more money in the market to eliminate financial crisis and to lead our economic growth faster. This time Government has also taken extra care in the development of the education system by incorporating new skills development schemes along with the rampant use of digital media platforms for the advancement of the education system. Infusion of technology in the education sector will create a boosting effect through the virtual classroom process and proceed for Hybrid learning.
In the end, it can be said that the Financial Budget of 2020–2021 is a ray of hope for all kinds of people to recover their situation from the worst. Infrastructural development and skills improvement in the education sector with the help of a digital classroom system makes our students and job seekers global-ready. On the other hand, taking intensive care in the health and medical industry will help to build up new hospitals and infrastructure. Incorporation of technology in every single corner of the fundamental development has been judged a wise decision by the Government and it got appreciation from all technology heads of different organizations in our country.
