India Inc leaders chuffed with Budget 2021 announcements

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The leaders of India Inc welcomed the announcements made by Finance Minister Nirmala Sitharaman on February 1. Uday Kotak, Anand Mahindra, Kiran Mazumdar-Shaw, Vipin Sondhi and Harsh Goenka showered praises on Sitharaman for delivering a growth-oriented Budget.

Here’s what they had to say about the Budget:

Uday Kotak, President, CII and CEO of Kotak Mahindra Bank — 

“A Budget for growth with next-gen reforms. Focus on healthcare, infra, financial sector. A stable tax regime, higher borrowings for capex. Specific reforms: disinvestment & monetization, opening up of insurance, cleanup plan for stressed assets. Sign of a self confident India,” Kotak tweeted.

Anand Mahindra, Chairman of Mahindra Group —

“In a time of unprecedented economic stress, the Govt’s responsibility was to spend enough to revive the economy or else face enormous human suffering. So I had one expectation from this budget: that we should be very liberal in terms of the targeted fiscal deficit. Box ticked,” tweeted Mahindra.

Harsh Goenka, Chairman, RPG Enterprises —

“Every year I refrain from giving marks to the budget thanks to my yearly check-up with my spinal doctor. This year for the first time I will give marks – 9/10. Why not 10? I probably should but if I do, I will be criticised and given names,” tweeted Goenka.

Kiran Mazumdar-Shaw, Chairperson, Biocon —

“The Budget has made important allocation for the healthcare sector to support the needs and I am glad to see focus being given on primary, secondary and tertiary,” said Kiran Mazumdar-Shaw

Vipin Sondhi – MD & CEO, Ashok Leyland —

The Finance Minister has unveiled a well thought out budget anchored by six key pillars. This could set out a virtuous cycle for Growth and Job creation spearheaded with a thrust on Public investment in Infrastructure and Health. The key will be in effective implementation. The Union Budget 2021 has several positive signals for the Manufacturing Sector and the Commercial Vehicles (CV) sector, which are core to the economy.