Experts highlight Union budget impact on pvt sector investments

Visakhapatnam : From highlighting infrastructure to technology and the income tax reforms, the recent Union Budget has sparked discussions among industry leaders and experts.

Focusing on the implications for private sector investment and inclusive growth, speakers at GITAM School of Business spoke about the budget’s focus on long-term industrial growth, support for MSMEs, research and development, and capital goods that provide a significant boost to the economy.

Addressing the gathering, Symbiosys Technologies CEO O. Naresh Kumar observed that the guarantee limit for MSMEs will increase from Rs 5 crore to Rs 10 crore, unlocking an additional Rs 1.5 lakh crore in credit over the next five years.

Sharing his views, Steel City Managing Director Satish Kumar Arya said that giving exemptions and raising the limit of the income tax would encourage domestic demand of the country and spending on the infrastructure would attract investments.

IIM-V Professor Kalyan Kolukuluri mentioned that welcomed the decision of 50 lakh Atal Tinkering Labs in government schools and the establishment of a second gene bank will provide conservation support for genetic resources.

Saragadam Siva Kumar from Visakhapatnam Port said that the government has taken steps to correct duty inversions, protecting domestic manufacturers and reducing dependence on imported raw materials.

FCA Srikanth Tangudu, GVK Kasthuri, area chair - department of accounting and finance, GITAM, international business senior faculty Dr.Radha Raghurama Patruni highlighted how the union budget focused on accelerating development, pivoting private sector investment, and securing inclusive growth.

The platform provided students, scholars and faculty members to share their perspectives about the budget’s impact on the economy.