Manas Pal, Co-Founder, PedalStart (Venture Capital)

“Being a founder of a startup that itself is working to upscale and enable a startup founder’s journey, the pre-budget expectations come from the perspective of the whole founder’s community that we are building, and revolve around fostering an environment that nurtures innovation and entrepreneurial spirit. I hope the government focuses on simplifying regulatory processes, offering tax incentives, and providing access to affordable capital for early-stage ventures. A conducive ecosystem for research and development, along with support for emerging technologies, can propel our nation towards global leadership in the Digital economy. Furthermore, initiatives to enhance skill development and promote collaboration between academia and industry would greatly benefit the start-up ecosystem. A forward-looking budget that encourages risk-taking, embraces technological advancements, and addresses the unique challenges faced by start-ups will not only stimulate economic growth but also solidify our position as a hub for innovation on the global stage”.

Ashish Pradhan, President, Siegwerk Asia (FMCG)

“The current Union Budget necessitates a mindful approach to taxation within the FMCG industry. Despite the current GST rates of 18% or 12% on FMCG items, I hope for a streamlined reduction of all FMCG commodities to 5%, designating them as essential commodities. Such a measure opens up new potential for the whole FMCG value chain and promises a much-needed impetus for industry stakeholders.

Furthermore, there is a need for tax exemptions for companies engaged in Research and Development (R&D) specifically focused on enhancing customer health and safety. This strategic incentive has the potential to significantly bolster advancements in these vital domains. Finally, I hope the Union Budget is well-aligned with the hues of sustainability and green growth”.