FM Nirmala Sitharaman has announced the Interim Budget or the ‘Vote of Account’ for 2024 today. The Lok Sabha elections, which will be held between April and May, will see the newly elected government present the full budget for FY25. Here’s what leaders in advertising and marketing thought about the inclusions in the Interim Budget.
Rohan Bhansali, Chairman and Co-founder, GOZOOP Group said, “India’s Union Budget 2024 heralds a golden era for our tech-savvy youth, epitomizing our nation’s high aspirations and the transformative journey our economy has undertaken over the last decade. The announcement of a 50-year interest-free loan represents not only a visionary step but also a testament to the government’s unwavering commitment to fostering entrepreneurship and innovation amongst the youth. Furthermore, the budget’s focus on empowering the youth with access to affordable capital is a testament to the government’s proactive approach towards addressing the evolving needs of our dynamic workforce. By providing avenues for skill development, training, and access to capital, we are not only nurturing talent but also creating a conducive environment for inclusive growth and prosperity. At GOZOOP Group, we are committed to partnering with the government and other stakeholders to leverage our expertise, resources, and technology-driven solutions to support the realization of India’s vision for inclusive growth and sustainable development.”
Gautam Madhavan, CEO and Founder, Mad Influence said, “Mad Influence welcomes the government’s commitment to maintaining stability in taxation, ensuring continuity for startups and IFSC units by extending tax exemptions till March 31, 2025. The Finance Minister’s decision to withdraw outstanding direct tax demands up to Rs. 25,000 and provide relief to 1 crore taxpayers is a positive step towards improving taxpayer services. As the economy strides towards sustained growth, Mad Influence acknowledges the government’s prudent approach in maintaining existing tax rates and embracing the positive impact of GST on trade and industry. However, Mad Influence looks forward to more targeted initiatives for startups in the upcoming full Budget in July. The overall budgetary estimates, with a focus on interest-free loans, reflect a balanced approach towards economic growth. Mad Influence anticipates further details in the detailed roadmap for ‘Viksit Bharat’ promised in the full Budget, paving the way for a more prosperous and inclusive India.”