Siliconindia

"A well-balanced budget in a challenging environment, a good balance between a strong capex push and maintaining macroeconomic stability. Increase in the import duty of compounded rubber augurs well for domestic sourcing of rubber and the domestic supplier eco-system for rubber compounding."

"The budget has been focused on developing infrastructure entailing road, rail, coastal shipping, and airports, making logistics much simpler, quicker, and cost-effective. Multimodal logistics will be the future and this budget covers all those aspects. This will also help in an increase in job creation in the logistics sector."

"This year’s budget is a strong effort to consolidate the Indian economy in post-pandemic dynamics, raising the personal tax exemption limit will certainly boost consumption and the electronics industry will surely benefit from it."

"The infra and capex push of the budget combined with a focus on creating a tech and knowledge-driven ecosystem will accelerate India’s journey to becoming a $ 5 trillion economy. This will also generate tremendous opportunities for the tech industry in multiple advanced domains like 5G, AI, digital, agri-tech & fintech."

"The mission of Amrit Kaal has put us in a strong position to truly call this a digital budget, given its large focus on technology and digital. From the government’s announcement of setting up of 100 5G labs and the development of 3 Centers of Excellence for AI, all of these will go a long way in unleashing the digital potential of the country."

"The focus on energy transition is heartening and in line with the Prime Minister's stated views. Viability Gap Funding for BESS will certainly make renewable energy storage a reality. We congratulate the Finance Minister on her progressive Budget."

"The Focus on AI is a step in the right direction. It'll accelerate the digitalization of the Indian economy. Indian companies in sectors like health tech, HR tech, fintech, etc will compete globally if our human capital is skilled in AI."

"The budget's focus on AI clearly shows that the government wants to develop our human capital in terms of expertise in technology. Our students will benefit from it in the long run to gain new skills that are more relevant in the current digital and technology space."

"The government should focus on firming the public healthcare organization, promoting R&D which should include both development of new drugs/treatments and research on diseases. Resources should also be allocated towards branches like infrastructure, insurance scheme, education and human resource."

"This fiscal year we would like the budget to enhance food sector competitiveness in the International market. The Government should provide a budget for export incentive schemes to the food sector and a subsidy for overseas participation in major food shows."

"To increase global competitive advantage, our SEZs which enhance ease of doing business and have proven to do so should be complemented with policies that attract investment. GoI must look at policies that regulate WFH rules, increase incentives for enterprises in SEZs, and procedural relaxations to improve operational and exit issues."

"Programs like FutureSkills PRIME and Responsible AI for Youth conceptualized by the Ministry of Electronics & IT, GoI are a welcome move. But to keep up with the pace of rapid technological advancements, and the growing relevance of AI in everyday applications, the government must prioritize funding for upskilling."

"To increase job creation, the union budget can increase investments to develop the ecosystem to encourage start-ups and small firms. The upliftment of the entire ecosystem and the acceleration of exceptional growth are both made possible by SMEs' digitization."

"National Logistics Policy has been a landmark development in mobilizing the power of digitization to improve the state of logistics in the country. The budget will most likely be aligned to augment it through concerted efforts."

"Budget 2023-24 would probably be the most challenging one that Finance Minister Nirmala Sitharaman would be tabling on February 1, 2023. I think that this year's budget should give digital infrastructure and skills a high priority."

"Electric Vehicle adoption is at an inflection point in India. While the commercial/logistics sector has seen a good adoption, the individual vehicle owner is still on the fence. If the budget addresses issues such as the high initial cost of ownership through incentivizing individual vehicle owners EV adoption will see a boost."

"In addition to calling for a #MakeinIndia circular economy, the prime minister correctly highlighted that India needs to create energy security self-reliance. The circular economy of battery raw materials will improve India's manufacturing and energy security by leaps and bounds."

"The Prime Minister has rightly acknowledged that India needs to develop self-reliance in energy security and called for a #MakeinIndia circular economy. A circular economy of battery raw materials will boost India’s energy security and uplift domestic manufacturing."

"In 2023, we expect the government to extend the scope of several incentive schemes; such as, Specs, PLI, and DLI schemes or introduce new schemes to boost IP and product design, manufacturing and generate new employment opportunities for the semiconductor industry in India."

"The government has taken some extensive initiative in skill development and has catered to STEM education macros. However, I would recommend focusing on micro factors as well, like reducing excise duty on lab equipment used in education, and also focusing on reducing GST on kits that are made in India."

"I am advocating for a budget dedicated towards programmes and resources that will help our students & teachers receive extra support and opportunities to succeed."

"The Indian government is committed to promoting economic growth and development, and this focus has continued since the pandemic. We hope to see a budget that outlines a plan for increasing economic growth along with more investment in infrastructure and incentives for corporate capital expenditure."

"In line with the government’s view for sustainable mobility, India’s EV ecosystem is growing rapidly. The EV market is expected to grow at a CAGR of 49 percent during 2022-2030 and hit 10 million-unit annual sales by 2030."

"With the impetus on Atmanirbhar Bharat and the chemical industry stepping up to this clarion call, the upcoming budget is a good opportunity to iron out inverted duty structures that hinder the competitiveness of the Indian chemical industry."

"Housing is a basic need for every citizen of the country and appropriate measures in the right direction can help us address this sooner than later."

"Despite recent global headwinds, we have seen consistent growth in the technology sector. "

"With the rise of new-age technologies such as artificial intelligence and the proliferation of internet access all across India, it is an opportune time for "

"Real estate, especially the residential segment, has bounced and is playing a significant role in bringing momentum to the economy. Government should reconsider the loss set-off limit under the income tax head house property. "