CSR: Interim Budget 2019 Reactions from Leaders of India Inc.
Union Finance Minister Piyush Goyal presented the interim budget of 2019, last Friday. The middle-class segment of India had a lot of expectations from this budget since it was the last budget before elections. The middle-class segment was surely happy with the tax rebate on an income of 5 lakhs. However, India Inc is also viewing a lot of positive potential in it.
Here are some of the reactions from industry leaders for the Interim budget, 2019.
A congratulatory Tweet from Mr Anand Mahindra, Chairman, Mahindra Group said,
I was bracing for a populist,profligate budget driven by ‘election panic.’ I’m just grateful that the reliefs to the key middle class & farmer segments were delivered in a measured way without risking bankruptcy of the economy. This was a controlled, pump-priming exercise…
— anand mahindra (@anandmahindra) February 1, 2019
Anuja Bansal, Secretary General, SOS Children’s Villages of India, said, “Child care needs government’s support to build a robust India. As the allocation for Integrated Child Development Scheme (ICDS) is being increased from 23,357 crore in RE 2018-19 to 27,584 crore in BE 2019-20, I am happy that the government has sustained its focus on the social development of the country, while balancing it with economic empowerment and growth”.
“We as a child care institution working for the abandoned and parentless children request the finance minister to consider a separate care programme extended to children who do not receive adequate parental care in India, post-budget while doing the revision,” she demanded.
Further, she added, “We request the government to consider an additional tax rebate of 25% over and above the available income tax rebate for individuals and CSR benefits. This will lead to reaping rich demographic dividend by the nation.”
Nadir Godrej, Managing Director, Godrej Industries and Chairman, Godrej Agrovet said, “Acting Finance Minister Piyush Goyal was very articulate. He presented more of a manifesto than a budget. Relief for middle-class homeowners and for farmers would be a boost to agriculture, animal husbandry and the realty sector!”
Siddharth Roy Kapur, President, Producers Guild of India said, “We are delighted that the immense contribution of Indian cinema towards employment generation in the country has been acknowledged and applauded in Parliament during the presentation of the Union Budget. The announcement of a single-window clearance mechanism for Indian filmmakers filming within India is a significant step and has the potential to play a huge role in boosting tourism in the country. The amendments in the Anti Camcording provisions will support the industry’s growth by curtailing illegal recordings of films in cinema halls and will go a long way towards reducing piracy.”
Mr Parag Agarwal, Founder & CMD, Janajal said, “As expected, this is a positive Budget with several announcements for the social and economic welfare of the country in the long term, much in line with the Government’s intention of a “New India” by 2022. It is heartening to see safe drinking water to all Indians as part of the Government’s plan by 2030. Water ATMs have a big role to play and can help achieve this vision much sooner. Safe water made accessible to people in a decentralised format such as water ATMs can have a force multiplier effect on the Government’s intentions through good health and wellness besides job creation and social entrepreneurship.”
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