Industry Voices on Budget 2020

Today's budget announcement by the Union Minister Nirmala Sitharaman, the Sensex lost close to 1,000 points, making it the highest loss so far. Most industry heads have expressed a mixed reaction on the slew of reforms proposed in the current budget for 2020.

Let's have a look at who said what on Budget 2020:

Prathap C. Reddy, Group Chairman of Apollo Hospitals said that it is "A farsighted budget, it is commendable that the FM has announced innovative initiatives that will enhance ease of living, improve the health quotient and boost opportunities for education & job creation, for all sections of our society and meet the expectations of an aspirational India."

"Directionally, it is a sound Budget and I am happy to see the government's focus on reviving economic growth," said Biocon CMD Kiran Mazumdar Shaw. The proposed amendments to the Companies Act for removing criminal action in case of tax disputes is a step towards infusing trust among India Inc, She added.

RPG Enterprises Chairman, Harsh Goenka said that "Amidst global turbulence and nations dealing with bushfires & the coronavirus, Ms Sitharaman has looked to craft a granular long term strategy to focus on vital issues."

Pawan Goenka, MD of Mahindra & Mahindra said that "Right areas of thrust for manufacturing - to be part of GVC, attract investment in electronics, focus on quality and facilitate export. Urgent implementation will be key."

"Optimistic about the government's support to rural economy towards increasing investment & consumption", noted Nissan India Managing Director Rakesh Srivastava.