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Industry experts reaction on post budget 2024 || Fintech | Real Estate |E-com |Tech

Quote by Mr. Rayan Malhotra who is the founder and CEO of NeoFinity, a Fintech Business. He is a reputable businessman, a successful serial entrepreneur, and a charismatic influencer renowned for his talent in growing startups and developing original products

“In this transformative budget, the strengthening of the economic sector emerges as a linchpin, propelling savings, credit score, and investments into newfound efficiency. The resilience of GIFT IFSC and the unified regulatory authority, IFSCA, fortifies our economy’s gateway to global capital and financial services. Despite there being no changes announced on the tax slabs for each old and new regime, the declaration of the withdrawal of outstanding disputed tax demands brings relaxation to 1 crore taxpayers. The surge in FDI inflow in 2014-23, totaling USD 596 billion, underscores a golden era, doubling the inflow of the preceding decade. To sustain this momentum, we are actively engaging in negotiating bilateral investment treaties with overseas partners, prioritizing India’s developmental agenda. While disappointingly retaining unchanged tax rates in the Interim Financial Budget 2024, inclusive of import duties, we extend potential benefits to start-ups and tax exemptions for specific IFSC units until March 2025. This strategic decision guarantees a balanced approach to taxation, fostering surroundings conducive to sustained foreign investment and economic growth.”

Quote by Mr. Mohit Jajoo who is the CEO and Director of Shubhashish Homes, an innovative real estate expert, pioneering sustainable construction processes for a greener future.

“The Finance Minister, Smt. Nirmala Sitharaman spoke about the awareness of housing for everyone and it’s not just about real estate but about empowering goals and fostering inclusive growth. The thriving economic system has undoubtedly placed us as a “hub for business and conference tourism” where opportunities like demand for hospitality infrastructure and allied services can be a huge development but has also elevated the aspirations of our middle-income class to discover the sector. Recognizing the symbiotic interconnection between tourism and local entrepreneurship, we intend to unlock the opportunities for our citizens. Moreover, our commitment to offering dignified living spaces takes center stage with the release of a groundbreaking scheme. Targeting deserving sections of the middle-income class dwelling in rented houses, slums, chawls, and unauthorized colonies, we empower them to turn the key to their dream houses. This initiative not only addresses housing challenges but propels economic increase through growing a ripple effect inside the real estate sector. It’s no longer about building homes; it is about constructing a foundation for a brighter and more inclusive community for all.”

Quote by Mr Prateek Sachdev who is the managing partner of Mobikasa, a leading e-commerce, web and apps development company. Their portfolio now includes Fortune 500 companies, startups, and businesses of all sizes seeking cutting-edge digital solutions.

In the 2024 budget, our country’s dedication to fostering a thriving start-up ecosystem stays unwavering. Recognizing the pivotal role of entrepreneurs in driving economic growth, maintaining the current tax benefits for both direct and indirect taxes, and preserving stability for enterprises. However, acknowledging the impending expiration of tax advantages for start-up investments utilizing sovereign wealth or pension budget, and tax exemptions for particular IFSC units, a pragmatic extension till 31.03.2025 is being recommended, ensuring continued support for innovation. The achievement of PM Mudra Yojana, sanctioning 43 crore loans totaling 22.5 lakh crore, exemplifies the nation’s dedication to nurturing the entrepreneurial spirit of the youths. Complemented by initiatives like Fund of Funds, Start Up India, and Start Up Credit Guarantee schemes that empowers the youth to become ‘rozgardata’—contributors to employment and economical prosperity. This budget reaffirms India’s dedication to catalyzing the growth of start-ups, making sure they remain the pushing force behind India’s financial resurgence.”

Quote by Mr. Piyush Goel who is the founder and CEO of Beyond Key, an end to end digital transformation and global IT consulting company, providing scalable digital solution to 500+ clients.

In 2024, a transformative surge in technology is predicted, propelled by India’s unwavering commitment to skill development and innovation, as articulated by Finance Minister Nirmala Sitharaman. The Skill India Mission has actively educated 1.4 crore youths, imparting essential skills and upskilling 54 lakh youths, alongside establishing 3,000 new ITIs. The academic arena has witnessed remarkable growth with the establishment of 7 IITs, sixteen IITs, 7 IIMs, 15 AIIMSs, and 390 universities, fostering a strong atmosphere for technological advancement. Furthermore, the fiscal budget 2024 allocates resources to increase the number of airports, rail infrastructure, and other infrastructure, undoubtedly impacting mass lives. Artificial Intelligence (AI) would become a pivotal force, and stronger funding to harness its benefits is poised to elevate the technological landscape. Corporate sectors also stand to benefit from the decreased corporate tax of 22%, fostering a greater favorable commercial enterprise environment and selling economic growth through accelerated investments and expansion opportunities. The budget’s strategic investments underscore India’s steadfast determination to a dynamic and tech-driven future.”

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