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Industry Reactions on Budget 2021


Today, the Finance Minister - Nirmala Sitharaman presented the budget for the fiscal year 2021 - 2022 in the parliament. The stock markets have liked this budget as they zoomed with Sensex ending at 48,600 up by 2,315 points and Nifty jumped by 646 points to settle at 14,281 at the end of the trading session.


The following are the industry reactions on the budget for 2021.

Industry Reactions on Budget 2021

Anand Mahindra, Chairman of Mahindra Group took to the Twitter platform and said that "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".

Anil Agarwal, Chairman of Vedanta Resources tweeted: "Congratulations to @narendramodi and FM @nsitharaman for a very reformist #Budget2021 with many big ideas including strategic disinvestment of two public sector banks & one insurance company. Thrust on infrastructure will boost growth."

Biocon's Executive Chairperson, Kiran Mazumdar Shaw, said that the "Overall, a reassuring Budget with no negative surprises that has buoyed overall sentiment".


Harsh Goenka of RPG Enterprises tweeted "Combination of Pujara & Pant innings - consistency and flamboyant. A steady focus on infra, commercial laws, ease of business with big shots of monetising PSU assets, new divestments, insurance FDI. India won in Australia. Now India shall rise above in new world order!".

Rajiv Kumar, Vice Chairman of NITI Aayog said that "In my opinion, the Finance Minister had raised a lot of expectations regarding Budget 2021 and she has fulfilled all of them. Given the current times, the budget is focussed on India's growth and is tailored to accelerate the growth rate".

Sandeep Ghosh, Partner and National Leader of Insurance, EY says, "Achieving the objectives of LIC IPO and privatization of the one public sector general insurance company in FY 2021-22 is doable but will require considerable spadework and heavy lifting".

Meanwhile, Mohandas Pai notes that it is a transformational budget, focused on the creation of jobs.

Story first published: Monday, February 1, 2021, 17:04 [IST]
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