Union Budget 2022-23 quote from Mr. Ram Iyer, Founder and CEO, Vayana Network
“The finance minister reiterated Govt.’s commitment to the policy of stable and predictable tax regime. The announcements continued to build on the themes of the previous year, such as infrastructure, education, health, housing and ease of doing business. The substantial increase in capex is expected to have a multiplier effect and a tightrope to manage between growth and inflation.
The extension to Emergency Credit Line Guarantee Scheme (ECLGS) was expected and needed to ensure the growth and survival of MSMEs. Linking of various MSME portals, and initiatives announced towards skill development, credit and market access reflect Govt.’s commitment towards the growth of the critical sector.
The other interesting announcement of bringing post office accounts onto a Core Banking System will make interoperability possible, resulting in the next phase of growth for UPI and other digital infrastructure. This will also bolster the public welfare and delivery contributing towards financial inclusion of the country.
The budget also had something for the sunrise sectors like EVs and Solar, along with capping on the LTCG which will help the start-up employees. Introduction of Digital Rupee will be a very interesting area to look out for.
It will be important to look at the finer details as they emerge and the execution, on which the success of all the policy announcements will depend.”
