Budget 2021 will streamline gig economy, create inclusive workforce
Founder, Director of Avaali Solutions Pvt Ltd, Ms. Srividya Kannan’s interview published in HR.com on the future of the IT Industry.
Varun Babbar, Managing Director, Qlik India, said, “The Union Budget 2021 is truly a balanced and reformative framework that looks forward to bolstering an economy towards faster recovery and growth which was otherwise ravaged by the pandemic.”
Union Finance Minister Nirmala Sitharaman presented the annual budget 2021 in the parliament which rests on six pillars of health and wellbeing; physical, financial capital and infrastructure; inclusive development for aspirational India; reinvigorating human capital; innovation and R&D; and minimum government and maximum governance.
The capital expenditure for the Budget 2021-2022 has increased by 34.5 per cent to Rs 5.54 lakh crore. Rohan Mittal, Chief Financial and Transformation Officer, Gati, said, “The sharp increase in capital expenditure, if incurred under right heads, will boost domestic consumption.”
Startup India
Union Budget 2021 cherished the startup’s sector in India with a number of announcements made in their favor. Incorporation of One Person Company, reduction in residency limit to 120 days, tax incentives and extensions on tax holidays, and capital gains exemption, are all being seen as good news for the startups in India.
Srividya Kannan, Founder and Director – Avaali Solutions, said, “Overall, this budget has brought in the much-needed boost across several sectors to accelerate the pace to recovery and growth.”
Referring to the announcements of setting up of Rs 10,000 crore fund by SIDBI and seed fund scheme with a corpus of Rs 945 crore to boost the startup sector, Abhishek Joshi, Founder and Practice Head, Strengths Masters, called it an encouraging move by the government.
Mishu Ahluwalia, COO and Investor Relations, KIWI, said, “The pandemic, coupled with some schemes rolled out by the Indian Government, has given a push to entrepreneurship in the last 12 months. More and more people are now looking at starting up, and turning their dreams into reality, while solving real-world problems.”
Vishwanathan Iyer, Professor – Accounting, Economics & Finance and Dean – Academics, T A Pai Management Institute, Manipal, described the Budget 2021 in one word and called it, “Consistent”.
He further said, “The budget instills a sense of security, continuity, and courage in its choice of sector support (both short term and medium) and therefore gives people a positive outlook.”