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  • Choices: The Bhishma Way vs. The Jatayu Way

    An authored article by Niranjan Gidwani – Consultant Director | Board Member SSGMUAE | Member UAE Superbrands Council | HBR Advisory Council | Charter Member TiE Dubai

    Choices often shape our destinies and are the touchstones of our moral compasses. This comparative study between Bhishma and Jatayu delves into how their contrasting choices during critical moments in the Mahabharata and Ramayana reflect broader themes of power, conscience, and integrity.

    1. Powerful or Powerless: Bhishma, a formidable warrior, chose to be a silent witness during Draupadi’s disrobing, a grave injustice. Despite his power, he remained powerless. Conversely, Jatayu, old and weak, valiantly attempted to protect Sita from Ravana, even though it cost him his life. His powerlessness was transformed into true strength by his unwavering resolve to help. Real power is not about physical strength but about the deep desire to help.

    2. Alive or Dead: Bhishma lived on physically but died every day to his conscience. Jatayu, on the other hand, died once but remained eternally true to his conscience, living on in history as a symbol of bravery and integrity. Our only constant companion is our conscience – better to be true to it.

    3. Fame or Infamy: Bhishma’s legacy is marred by his inaction during Draupadi’s ordeal, while Jatayu’s fame soared due to his selfless attempt to save Sita. Their stories remind us that our actions determine how history remembers us. Sooner or later, we are all going to be mere names in history. Will we be equated with the bad or the good – the choice is ours.

    4. Culture or Vulture: Bhishma, despite his cultured status, stooped to low moral standards by his inaction, resembling a vulture. Jatayu, a vulture by birth, soared to human heights by his noble actions. One doesn’t become a human being by choices or being born as a human – one becomes a human being by being a human.

    5. Spoken or Unspoken Words: Draupadi’s pleas fell on Bhishma’s deaf ears, while Jatayu understood Sita’s unspoken distress and acted. This highlights the power of empathy and understanding beyond words choices. The language of the heart is more powerful than the language of words.

    6. Clarity or Confusion: Bhishma was entangled in his royal duties, forgetting his higher moral duty. Jatayu, however, had crystal-clear clarity about his moral responsibilities, which guided his actions. When caught up in dilemmas, best is to follow the higher principles – to follow our heart because it always knows the truth.

    7. Good or Bad Example: Bhishma’s actions set a regrettable precedent, while Jatayu’s selflessness remains an ideal example for generations. If we can’t be a great example, at least, let us not be a bad one.
    8. Relative or Stranger: Bhishma, a relative to Draupadi, acted like a stranger, while Jatayu, a stranger to Sita, acted as her closest kin. True relationships are built on empathy and action. True relationships are based on connections of the heart, not just bodily connections.
    9. The Saintly or the Wicked: Bhishma’s association with the wicked Kauravas clouded his judgment, while Jatayu’s connection with the virtuous Lord Rama and Lakshman clarified his conscience. After all, who we are solely depends on whom we associate with.
    10. Embrace or Neglect: Lord Krishna’s disapproval of Bhishma contrasts sharply with Lord Rama’s embrace of Jatayu, even performing his final rites—a rare honor. The ultimate test of any activity is if the Supreme Lord is pleased with us.
    Conclusion: This recount is not meant to criticize Bhishma, a great warrior and an amazing personality, but to highlight the consequences of inaction. When faced with injustice, we have two choices: to act or to remain passive. The choices we make define our legacy—will we follow “the Bhishma way” or “the Jatayu way”? The consequences of our choices will be ours to bear.
    This article was shared with Prittle Prattle News as an authored article.
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  • Driving Innovation and Growth in the Technology and Startup Ecosystem in Union Budget 2024-2025

    The Union Budget 2024 has introduced several measures aimed at bolstering the technology and startup ecosystem in India. With a focus on innovation, research, and support for startups, the budget sets the stage for significant advancements in this dynamic sector.

    Sourabh Deorah, CEO & Co-founder, AdvantageClub.ai, highlighted the budget’s impact on startups and innovation, “Today’s Budget announcement about abolishing the angel tax for all classes of investors will significantly boost growth and create a more supportive environment for angel investments in startups. This should help reduce the stress in the market for early stage startups. With increased R&D investments, there will be creation of newer industries and more job opportunities that will ultimately benefit the entire startup ecosystem and position India as a global innovation hub. Also, the changes in tax slabs along with increased standard deduction brings much-needed relief to salaried individuals, enhancing their disposable income and overall economic well-being. Additionally, it’s encouraging to see a strong focus on youth empowerment with internship opportunities for 1 crore young people across 500 companies and one-month wage support for all first-time formal job entrants. At AdvantageClub.ai, I have Innovation always advocated for hiring fresh talent. Modi 3.0’s top nine priorities will generate ample opportunities for Indians and transform India for a brighter future.”

    Mr. Sumit Gupta, Co-founder, CoinDCX, expressed optimism Innovation about the budget’s support for the tech startup ecosystem, “CoinDCX welcomes the Finance Minister’s announcement in today’s budget regarding the abolition of the Angel tax for all classes of investors. We are confident that this will significantly bolster the Indian tech start-up ecosystem, especially in the Web3 sector. India stands at the forefront of the global Web3 ecosystem with a network of over 1,000 startups spanning diverse sectors. Collectively, these Indian Web3 startups have secured funding exceeding $2.5 billion, reflecting the landscape’s robust growth and investment potential. In 2023, Indian Web3 projects secured approximately $270 million in funding. These figures indicate investors’ interest in the region’s early-stage Web3 innovation. As Web3 becomes more mainstream, investment in Web3 startups is expected to increase. The abolition of the Angel tax will definitely benefit Indian founders, especially those leading early-stage Web3 companies in India. For investors, we had anticipated some relaxation to the taxation framework in this budget. We will continue to push for rationalization of the taxation framework which includes reducing the TDS to 0.01%, allowing setoff of losses on VDA transactions and modifying the 30% tax on capital gains. We have submitted data-backed quantitative analyses on the flight of capital and users, and the potential increase in government revenue should the taxation structure be revised. We are hopeful that the government will consider our requests and that we will see changes in the future.”

    Mr. Navneet Ahluwalia, Head of Division, Human Resources & Administration, FUJIFILM India, praised the budget’s emphasis on skilling and innovation, “We applaud the 2024-25 Union Budget for its forward-thinking approach to education, skill development, and promoting women-led development. The introduction of the internship opportunity scheme is commendable, significantly enhancing youth skills and motivation, and bridging the gap between academic learning and real-world application. The substantial allocation for AI-enabled learning demonstrates a strong commitment to innovation, transforming traditional methods and ensuring students are prepared for a tech-driven future. Additionally, several employment schemes are set to boost skill development. Scheme A offers one month’s wage to new workforce entrants across all sectors. Scheme B incentivizes additional employment in manufacturing, directly benefiting employees and employers with EPFO contributions, expected to aid 30 lakh youth. Scheme C covers additional employment in all sectors, with the government reimbursing employers up to Rs 3,000 monthly for two years per additional employee, aiming to create 50 lakh jobs. The Budget’s allocation of over Rs 3 lakh crore for schemes benefiting women and girls underscores the government’s commitment to enhancing women’s roles in economic development. The establishment of working women hostels, collaboration with industries for creches, and women-specific skilling programs promote higher workforce participation. These initiatives ensure a supportive environment for women, fostering empowerment and economic independence. With Rs 1.48 lakh crore dedicated to education, employment, and skilling, the budget reflects a comprehensive approach to building a robust educational infrastructure. This investment will improve education quality, expand learning access, and foster skill development nationwide. By prioritizing skilling and promoting women’s participation, the government is equipping youth and women with the tools needed to succeed in a rapidly evolving job market. Overall, the 2024-25 Union Budget paves the way for a brighter, more skilled future for our youth and a more inclusive, empowered future for women, ensuring they are well-prepared to meet the demands of a dynamic and competitive world.”
    The article was curated by Prittle Prattle News as an industry story.
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  • Catalyzing Growth in Manufacturing and MSMEs in Union Budget 2024-2025

    The Union Budget 2024 has introduced a series of impactful measures aimed at propelling the manufacturing and MSME sectors to new heights. With a focus on credit support, infrastructure development, and technological advancement, the budget lays a solid foundation for sustainable growth and competitiveness.

    Sunil Agarwal, Director, Vinod Cookware, highlighted the strategic focus on MSMEs, “The Union Budget 2024 is commendable for its strategic focus on strengthening Micro, Small, and Medium Enterprises (MSMEs), which form the backbone of our economy. The allocation of INR 100 crore to the Credit Guarantee Scheme and the enhancement of the Mudra Loan limit to INR 20 lakh are decisive steps toward empowering small businesses. As for the manufacturing industry, the provision allowing MSMEs to acquire machinery without collateral is particularly noteworthy, as it paves the way for enhanced productivity and growth.

    Moreover, the reduction in Goods and Services Tax (GST) rates and the simplification of compliance procedures underscore the government’s commitment to fostering a cohesive business environment. The planned expansion of the Small Industries Development Bank of India (SIDBI) with 24 new branches by 2025 is guaranteed to further support MSME clusters across the country. These measures collectively enhance the ease of doing business and provide a strong foundation for economic development. From the consumer’s standpoint, the new tax regime is expected to result in a reduction in income tax for salaried employees, offering significant relief to the middle class. This reduction in the tax burden is anticipated to increase savings and lead to a rise in consumer retail demand. We see these initiatives as a positive catalyst for growth and innovation. The expansion of Vinod Cookware is poised to benefit from these developments, further elevating our commitment to quality and customer satisfaction.”

    Mr. Kushal Patel, Managing Director, Axita Cotton, commended the budget’s focus on industrial growth, “The Finance Minister announced the development of twelve new industrial parks under the National Industrial Corridor Development programme. These Manufacturing parks will be equipped with complete infrastructure, and ‘plug and play’ parks will be established in or near 100 cities. These provisions will significantly boost industries across the spectrum, and we commend the budget for its strong focus on industrial growth.”

    Dhiren Jatakia, Head of Finance and Accounts, Covestro India, appreciated the progressive measures for MSMEs, “The Union Budget 2024 is a progressive step towards fostering economic growth and sustainability. Revamping the Tax structure & custom duty will bolster business confidence and investment in India. The focus on skill development, energy transition and the development of small modular nuclear reactors aligns well with our commitment to sustainability. Additionally, the enhanced support to MSMEs and the introduction of employment-linked incentives will significantly benefit our workforce and supply chain. Overall, the budget’s emphasis on innovation, infrastructure, and inclusive growth presents promising opportunities for Covestro India.”

    Mr. Sagar Gupta, Director, Ekkaa Electronics, lauded the focus on job creation and manufacturing, “Speaking on Union Budget 2024-25 for the Consumer Electronics System Design and Manufacturing (ESDM) Sector, Director of Ekkaa Electronics, Mr. Sagar Gupta, said, ‘As our FM Nirmala Sitharaman outlaid the Modi 3.0’s first budget, and the 13th Budget of the Modi government, the FM brought the focus on job creation in manufacturing and additional employment is a significant step forward.

    By providing incentives to both employers and youth, these schemes are poised to benefit 30 lakh young individuals, fostering a skilled and productive workforce. This approach by our government will drive economic growth, enhance global competitiveness, and ensure a brighter future for India’s youth and manufacturing sector. We are particularly encouraged by the special attention given to MSMEs and manufacturing, especially labour-intensive sectors. The emphasis on labour-intensive manufacturing and technology support will not only help these sectors grow globally but also generate substantial employment opportunities across various industries. The new formulated package covering financing, regulatory changes and technology support for MSMEs will help them grow and also compete globally. The introduction to facilitate term loans to MSMEs for purchase of machinery and equipment without collateral or third-party guarantee, a credit guarantee scheme, was great move by our FM.

    We welcome the new scheme to skill 20 lakh youth through enhanced training institutes and industry-aligned curricula. The substantial ₹3 lakh crore allocation for women-centric initiatives demonstrates the government’s commitment to boosting women’s economic participation and supporting women-led enterprises, paving the way for inclusive growth. This support is crucial for sustaining high growth with next-generation reforms that cover all factors of production, including land, labour, and capital. We believe that collaboration between the Centre and States will be essential in implementing these reforms and achieving sustained economic growth. Additionally, the launch of a comprehensive scheme providing internship opportunities in 500 top companies to 1 crore youth over five years is a commendable initiative. At Ekkaa Electronics, we fully support these initiatives and are committed to leveraging these opportunities to foster innovation, growth, and employment within the industry.’”
    The article was curated by Prittle Prattle News as an industry story.
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  • Paving the Way for Agricultural Transformation in Union Budget 2024-2025

    The Union Budget 2024 has brought forth substantial measures to revolutionize the agriculture sector, focusing on sustainable practices, infrastructure development, and farmer welfare. The budget has allocated ₹1.52 lakh crore to enhance agricultural productivity and rural demand.

    Abhay Parnerkar, CEO, Godrej Tyson Foods Ltd, expressed his optimism, stating, “The Union Budget’s emphasis on agricultural development, particularly the creation of large-scale vegetable production clusters, is a significant step forward in strengthening the country’s food value chain. This initiative aligns perfectly with our vision of a robust and sustainable food ecosystem. Additionally, the focus on natural farming is commendable and will undoubtedly contribute to the overall health and well-being of our nation with enriched farm to table experiences for consumers. We are optimistic about the potential of these initiatives to enhance food security, improve farmers’ livelihoods, and drive economic growth. I also firmly believe the growth in frozen food category will reduce wastage and nutrition loss in the food value chain.”

    Prem Kumar Vislawath, CEO and Founder, Marut Drones, highlighted the budget’s commitment to innovation in agriculture, “The allocation of ₹1.52 lakh crore for agriculture and allied sectors by the finance minister underscores a pivotal commitment to bolstering India’s agricultural resilience.

    The emphasis on developing climate-resistant varieties and introducing 109 new high-yielding varieties is a forward-looking stride towards sustainable agriculture. Additionally, the promotion of farmer producer organizations, cooperatives, and startups heralds a new era of inclusive growth and innovation in the agricultural sector. Exempting lithium imports from customs is a bold step demonstrating India’s commitment to strengthening the drone manufacturing sector. Lithium, crucial for drone battery production, will now bolster domestic drone manufacturing, underlining the government’s support for this industry. The abolition of the Angel Tax for investor classes is a significant boost for startups, affirming the government’s unwavering support for entrepreneurship and fostering a conducive investment environment. However, we look forward to enhanced subsidies on agricultural machinery, including drones, as a critical step towards modernizing our farming practices.”

    Prateek Rastogi, Co-Founder & CEO of Greenday, underscored the budget’s impact on climate-resilient agriculture, “The 2024 budget further strengthens the government’s commitment to agriculture and startups, with a significant focus on climate-resilient agriculture. This is a tremendous boost for biofortified varieties, which are the beacon of hope for climate resilient farming. The emphasis on agricultural research is particularly exciting for us at Greenday. Our mission to enhance the nutritional value of food while supporting farmers is closely aligned with these initiatives. This will help us create nutrion dense and climate resilient farms that meet the growing demand for sustainable and nutritious food.
    The removal of the angel tax and the major push for agri startups make this an ideal time for investors to dive into this sector. The budget’s increased allocation for agricultural infrastructure and support for innovation will drive remarkable growth over the next five years. For Greenday and our Better Nutrition brand, this budget provides the perfect environment to scale operations and bring more innovative products to market. We are helping farmers create and market differentiated varieties, which is essential for improving food security and nutrition. The focus on digital infrastructure and ease of doing business is another significant win for startups. Streamlined processes and better connectivity will enable us to reach more people, faster. It’s an exciting time to be in the agri-tech space, and we’re eager to leverage these new opportunities to drive growth and create lasting change. Overall, the 2024 budget lays a strong foundation for innovation and growth in agriculture and startups. It’s a pivotal moment, and I’m optimistic about the future it promises for companies like Greenday.”
    The article was curated by Prittle Prattle News as an industry story.
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  • A Boost for the Education and Skill Development Sector in Union Budget 2024-2025

    The Union Budget 2024 has made significant strides towards advancing the education and skill development sectors in India. With a substantial allocation of ₹1.48 lakh crore for education, employment, and skilling, the government has demonstrated a robust commitment to nurturing the future of the nation.

    Rohit Gupta, COO & Co-founder, College Vidya, praised the budget, stating, “Budget 2024’s allocation of ₹1.48 lakh crores for education, employment, and skilling demonstrates a robust commitment to India’s educational future. At College Vidya, we’re particularly excited about the government’s decision to provide financial support for education loans up to ₹10 lakhs for higher education in domestic institutions. This aligns perfectly with our mission to increase access to quality education. The Prime Minister’s package of five schemes, with a ₹2 lakh crore outlay over five years, is a game-changer for youth empowerment. The goal to skill 20 lakh youth through employment-linked initiatives addresses a critical gap between academic learning and industry requirements. We see tremendous potential in integrating these initiatives with digital learning solutions. This budget sets a positive tone for collaboration between the government and ed-tech companies to deliver quality education at scale. With these bold steps, India is poised to create an educated, skilled, and employable youth force that will drive our nation’s growth.”

    Pratham Barot, CEO & Co-Founder of Zell Education, echoed similar sentiments, “We are pleased with the government’s emphasis on providing opportunities for skill development and employability in the budget. The Prime Minister’s package of 5 schemes and initiatives to facilitate employment, skilling and other opportunities for 4.1 crore youth over 5 years with a central outlay of ₹2 lakh crores is really inspiring. The Govt has made a provision of ₹1.48 lakh crores for education, employment and skilling taking one more step towards development and success. The emphasis on vocational training and apprenticeships is particularly noteworthy, as it will enable practical, hands-on experience that aligns with industry demands. Furthermore, the allocation of resources for digital skill training will ensure that our workforce remains competitive in an increasingly digital global economy. Overall, this budget reflects a forward-thinking approach to building a resilient and skilled workforce, which is essential for the sustained growth and prosperity of our country. We are optimistic that these measures will yield significant benefits and look forward to their successful implementation.”

    Prof. (Dr) Preeti Bajaj, Director General, KIET Group of Institutions, emphasized the holistic development focus, “Budget 2024’s focus on holistic development, particularly in education and skill development, is a watershed moment for India’s future. The government’s commitment of ₹2 lakh crores over five years for youth empowerment, coupled with this year’s allocation of ₹1.48 lakh crores for education, employment, and skilling, demonstrates a clear vision for building a knowledge-based economy. The emphasis on employment-linked skilling schemes is a game-changer.

    With the goal to skill 20 lakh youth, this initiative addresses the critical need to bridge the gap between academic learning and industry requirements – a challenge we’ve long recognized at KIET. As a leading educational institution, we’re excited to leverage our expertise in technical and professional education to support these government initiatives. We see immense potential for collaboration between academia and industry to create curricula that are responsive to market needs and to provide hands-on, practical training to our students. This budget sets a strong foundation for transforming India’s youth into a skilled, employable workforce ready for taking our country to become Viksit Bharat.”
    The article was curated by Prittle Prattle News as an industry story.
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  • Child Welfare and Social Development in Union Budget 2024-2025

    The Union Budget 2024-2025 has demonstrated a significant commitment to improving the lives of children, child welfare, and promoting social development. With substantial allocations in education, health, and welfare schemes, the government aims to create a supportive environment for the holistic development of children and marginalized communities.

    Mr. Shridhar Venkat, CEO, The Akshaya Patra Foundation:

    “The 2024-2025 budget brings positive direction for education and nutrition in India. Two aspects particularly excite us at Akshaya Patra: The National Means cum Merit Scholarship Scheme has received a significant boost, with ₹377 crore allocated for 2024-25. This increase aligns beautifully with our own Akshaya Patra Scholarship Program. Together, these initiatives will help talented students from economically weaker sections continue their education beyond schooling, reducing dropouts and nurturing potential. The PM POSHAN (formerly Mid-Day Meal) scheme has been allocated ₹12,467.39 crore for 2024-25. This represents a significant 24.67% increase from the revised estimate of ₹10,000 crore in 2023-24. This substantial investment in our children’s nutrition is heartening. As key implementers of the mid-day meal program, we at Akshaya Patra are energized by this commitment. These strategic allocations, coupled with the five-year extension of the Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY), form a comprehensive approach that directly addresses multiple Sustainable Development Goals. By combating hunger and promoting education, we’re making significant strides towards SDG 2 (Zero Hunger), SDG 4 (Quality Education), and SDG 10 (Reduced Inequalities). At Akshaya Patra, we’re more motivated than ever to collaborate with the government in these crucial areas. This budget takes us another step closer to achieving the Zero Hunger SDG and ensuring quality education for all.”

    Mr. Dhruv Sarin, Co-founder, PB Partners (A brand under Policybazaar):

    “We applaud the Indian government’s Union Budget 2024 for its forward-thinking approach that will foster economic growth, innovation, and social inclusion across all segments of society. The reduction of TDS (Tax Deducted at Source) rates from 5% to 2% for individual agents selling insurance policies is a particularly commendable initiative, as it will directly increase their disposable income. Empowerment of India’s young workforce was also one of the central focus areas. With five targeted schemes aiming to benefit 41 million youth over five years and supported by a central outlay of ₹2 lakh crore, this move will result in more employment opportunities and significantly uplift India’s youth. The women-specific skilling programs and initiatives to boost workforce participation are also laudable steps towards inclusive growth. These initiatives will lay a solid foundation for sustained economic growth by financially strengthening India’s lower middle segment and youth.”

    Mr. Rohan Rai, CEO and Co-Founder, Edupull:

    “India is poised to achieve remarkable growth in the rapidly evolving digital era, outpacing the economies of its neighboring nations. With this in mind, we are thrilled about the new measures announced in the 2024–25 interim budget to support education, employment, and skill development. The government has allocated Rs 1.48 lakh crore for these important areas, showing a strong commitment to improving opportunities for our youth. One highlight is the plan to provide internships for one crore young people in 500 top companies. Each intern will receive a stipend of Rs 5,000 and a one-time assistance of Rs 6,000. This is a fantastic opportunity for young people to gain valuable work experience. Companies will fund these internships through their CSR funds, creating a great partnership between the public and private sectors. A new centrally funded scheme will also be launched in partnership with state governments and companies to train around 20 lakh youth over a five-year period. As part of this initiative, 1,000 ITIs will be updated, with training content and design linked to industry skill requirements. The Education Ministry’s budget has increased by 6.8%, now totaling Rs 1,20,627.87 crore, up from Rs 1,12,899.47 crore last year. This extra funding will help improve schools, colleges, and educational programs across the country. Another important announcement is the support for loans up to Rs 10 lakh for higher education in domestic institutions. This will make it easier for students to afford college and university, opening doors to better careers. At Edupull, we know how crucial these measures are. For example, many young people struggle to find internships through campus placements that provide real-world experience. This new internship program will help bridge that gap. Additionally, the increased budget for education means more resources and better learning environments for students. The loan support will help students from all backgrounds access higher education, giving them the chance to succeed. We believe these initiatives will make a big difference in the lives of young people across the country, helping them take informed decisions about their career path.”

    Sudarshan Suchi, CEO, Bal Raksha Bharat, expressed his appreciation, “The recently presented Budget 2024-2025 demonstrates a significant commitment to improving the lives of children through comprehensive allocations in education, health, and child welfare. Over ₹3 lakh crore allocated for schemes benefiting women and girls ensures that these crucial segments of the population receive support for education, healthcare, and economic participation.

    Additionally, the launch of the Pradhan Mantri Janjatiya Unnat Gram Abhiyan is set to benefit 5 crore tribal people, which includes a significant number of children, by improving their socio-economic conditions. Additionally, the allocation of ₹1.48 lakh crore for education ensures significant investment in infrastructure, quality of education, and skill development. The budget speech also mentioned a centrally sponsored scheme that aims to skill 20 lakh youth over five years by upgrading 1000 Industrial Training Institutes (ITIs). Upgrading ITIs and skilling initiatives prepare youth for employment, reducing unemployment and driving economic progress. This skilled workforce can attract global businesses and enhance India’s competitiveness.

    Although specific child health allocations are not detailed, the focus on inclusive healthcare ensures that children and adults receive necessary medical services. Healthy children grow into productive adults, reducing future healthcare burdens and increasing societal productivity. The Budget 2024-2025 reflects a robust commitment to fostering the well-being and development of children through targeted investments. Strategic allocations in child welfare will lay a solid foundation for achieving a Viksit Bharat. These investments are not just expenditures but critical enablers of a developed, equitable, and prosperous India.”

    Regarding the introduction of the National Pension Scheme for Minors (NPS Vatsalya), he added, “The introduction of the National Pension Scheme for Minors (NPS Vatsalya) in the Indian Budget 2024 represents a significant development in the domain of child welfare and financial security. NPS Vatsalya aims to provide a structured and secure financial instrument for the long-term welfare of children and is designed to cater to the needs of minors, offering a way for parents or guardians to plan for the future financial security of their children.

    Unlike SSY or PPF, NPS Vatsalya is focused on creating a pension corpus rather than just savings, which aligns well with long-term financial security goals. The automatic transition from a minor’s scheme to an adult NPS plan offers a seamless process for continued savings and investment. This scheme integrates child welfare into broader financial and social security frameworks, reflecting a more holistic approach to child welfare beyond immediate needs. It represents a shift towards future-oriented policy measures aimed at ensuring long-term benefits for children as they grow into adulthood. By targeting minors, the scheme can be inclusive of a wide demographic, including those from economically weaker sections who might not otherwise consider long-term savings for their children. However, the challenge lies in amplifying its awareness and reach, ensuring that all parents, especially in remote or underprivileged areas, are aware of and can access NPS Vatsalya. Similarly, some parents might find pension schemes complex and might require additional support to understand the benefits and operation of the scheme.
    The effectiveness of the scheme will depend on the returns generated by the investments made under NPS Vatsalya. Parents will need assurance of adequate returns to meet future needs. NPS Vatsalya is a forward-thinking initiative that aligns well with the goals of child welfare by promoting early financial planning and ensuring future stability for minors. Its focus on long-term pension benefits represents a significant step towards comprehensive child welfare, integrating financial security into the broader social safety net.
    However, its success will depend on effective implementation, accessibility, and the ability to address the challenges faced by different segments of the population. The scheme reflects a commitment to the future well-being of children and presents an opportunity to cultivate a culture of long-term financial responsibility among Indian families.”
    The article was curated by Prittle Prattle News as an industry story.
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  • Enhancing Healthcare Infrastructure and Access in Union Budget 2024-2025

    The Union Budget 2024 has introduced key measures aimed at improving the healthcare sector in India. With increased allocations for Healthcare infrastructure, research, and disease prevention, the government aims to strengthen the country’s healthcare system and ensure better access to medical services.

    Saransh Chaudhary, President, Global Critical Care, Venus Remedies Ltd and CEO, Venus Medicine Research Centre:

    The Central government’s decision to exempt three more cancer medicines from customs duty is a commendable step towards making cancer drugs more affordable and incentivising manufacturers by reducing their costs. We also welcome the Finance Minister’s announcement to include manufacturing & services and innovation, research & development among the nine priority areas identified by the government to ensure fast-paced growth in line with its vision of “Viksit Bharat”. Pharma manufacturing being India’s Healthcare strength, we expect the government to build on it with its incentive-based approach. A renewed focus on innovation and R&D, on the other hand, will transform India into a value-driven economy, unleashing its immense potential wealth creation potential.

    Dr. Ashutosh Niranjan, Dean of Noida International Institute of Medical Sciences(NIIMS) & Hospital, expressed his enthusiasm, “I am thrilled to see the government’s concern for the health sector through the FY2024 budget which was released on Tuesday by Union Finance Minister Nirmala Sitharaman, all eyes lie on the health sector with high expectations from the healthcare and pharma sector. The Finance Minister Nirmala Sitharaman earlier this year in the interim budget outlined some significant plans for India’s healthcare sector. For 2024–25, the sector was allocated ₹90,171 crore from the budget, additionally, the Interim Budget 2024–2025 included a number of noteworthy healthcare initiatives. A large rise over the ₹79,221 crore allocated for 2023–2024. A new program to Enhancing encourage immunization against cervical cancer in girls aged 9 to 14 was launched in an attempt to reduce the occurrence of this chronic and preventable illness.”
    The article was curated by Prittle Prattle News as an industry story.
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  • Advancing Infrastructure Development and Sustainability in Union Budget 2024-2025

    The Union Budget 2024 has placed a strong emphasis on infrastructure development and sustainability, aiming to boost economic growth while ensuring environmental responsibility. Key measures include significant investments in Infrastructure Infrastructure projects and initiatives to promote green energy and sustainable practices.

    Devndra Chawla, MD & CEO, GreenCell Mobility, expressed his optimism, “We appreciate the significant steps taken towards infrastructure development & sustainable transportation by the hon. finance minister in the first union budget under Modi 3.0 government. GreenCell Mobility remains committed to contributing to India’s sustainable development goals by promoting green mobility solutions and supporting the government’s efforts towards a greener and more connected future. The proposal of industrial parks and road connectivity projects, including the Rs 26,000 crore investment in road infrastructure, will go a long way towards achieving the vision of Viksit Bharat. GreenCell Mobility is optimistic about the positive ripple effect these initiatives will have on the economy. Improved road infrastructure will not only boost economic growth but also enhance the quality of life for millions of Indians.

    These measures will facilitate easier commutes, reduce travel times, and support the growth of urban and semi-urban areas. The creation of a climate finance taxonomy will boost capital availability for climate adaptation and mitigation. This initiative will help India to meet its climate commitments and fast track green transition, paving the way for a more sustainable future. The government’s initiative to transform iconic tourist hubs is truly praiseworthy.

    With robust state-level marketing and branding, these efforts are set to make a big impact. The launch of a new rating system for tourist centers, focusing on the quality of facilities, marks a significant move towards boosting India’s tourism infrastructure. This innovative framework promises to elevate visitor experiences and position India as a top travel destination. The reduction in tax slabs under the New Tax Regime is a game-changer. With more disposable income, people will find it easier to travel and explore new destinations. At GreenCell Mobility, we applaud this move as it will encourage more people to choose eco-friendly transportation options like our NueGo service.”

    Subahoo Chordia, Head – Real Assets Strategy, Edelweiss Alternatives, added, “The government has maintained its allocation towards infrastructure sector at INR 11+ lakh crores (i.e. 3.4% of GDP) and additional interest-free loan of INR 1.5 lakh crores to States will be a booster for the infrastructure segment. The budget has lent further emphasis to multiple infrastructure segments towards development of roads, airports, etc. Further, industrial parks, to service 100+ cities and development of 12 specific industrial parks under national schemes is envisaged. The Government has lent further weight in its fight against climate change.
    The fiscal incentives for rooftop solar and pumped storage will enhance energy security and availability. Further indirect tax incentives towards renewable energy items and critical minerals such as lithium, copper bodes well for the segment. Overall the budget maintains its focus on long-term growth and sustainability and is positive towards infrastructure segments.”
    The article was curated by Prittle Prattle News as an industry story.
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  • Promoting Green Mobility and Sustainable Transportation in Union Budget 2024-2025

    The Union Budget 2024 highlights a renewed focus on promoting green mobility and sustainable transportation solutions. With significant investments in electric vehicles Transportation and supporting infrastructure, the government aims to drive the adoption of eco-friendly transportation options across the country.

    Mr. Naveen Garg, Cybersecurity Reliability Engineer at Akamai Technologies, emphasized the budget’s impact on the tech sector, “India’s commitment to using technology to increase productivity and investment in public infrastructure is demonstrated by the recent budget declaration, which will further India’s digitalization. The government is creating a more technologically advanced and linked educational ecosystem by allocating a substantial Rs100 crores to enhance digital infrastructure in schools and higher education institutions. By guaranteeing digital gadgets, smart classrooms, and high-speed internet connection, this investment will close the digital gap and facilitate seamless online learning. Furthermore, the Finance would be used to create and improve digital content, including e-books, interactive lesson plans, and AI-powered individualized education programs. This action will improve education while also giving young students the tools they need for the future. The initiative is called Vikasit Bharat.”

    Mr. Bantwal Ramesh Baliga, Group CEO of Acquaviva, applauded the budget’s employment incentives, “The scheme introduced in the budget to incentivize the hiring of first-time employees is a game-changer for the manufacturing sector. By benefiting 3 million youths and their employers through direct incentives based on EPA contributions over four years, the government is not only encouraging job creation but also nurturing a skilled workforce. This initiative reflects the Modi-led NDA Government’s commitment to boosting economic growth and employment opportunities. The budget’s announcement to prioritize the participation of women in the workforce is welcomed in sectors like hospitality and retail. This initiative aims to diversify the workforce and recognizes the contributions that women can bring to these sectors. The budget is paving the way for greater gender equality and economic empowerment within these industries.

    Furthermore, the announcement to promote water supply, sewage treatment, and solid waste management projects for 100 large cities reflects an approach to transportation infrastructure development. These initiatives will not only enhance urban living standards but also increase demand across various industries involved in construction, engineering, and environmental technologies. Overall, the budget’s focus on incentivizing employment, supporting women’s participation in key sectors, and advancing urban infrastructure projects is set to catalyze industrial growth, create new job opportunities, and drive sustainable economic development. This forward-looking strategy positions India for long-term resilience and prosperity.”
    Mr. Sanchit Sekhwal Goyal, Director, Su-Kam Power Systems Limited:
    “SuKam welcomes the Ministry of Finance’s decision to fully exempt the custom duty on critical minerals which will reduce the price of lithium-ion batteries and consequently making electric vehicles more affordable. This move will significantly boost the adoption of electric vehicles across the country. Additionally, the budget’s focus on expanding charging infrastructure and promoting research and development in battery technology will drive innovation and support the growth of the green mobility sector. By making electric vehicles more accessible and promoting sustainable transportation, India is taking a significant step towards achieving its climate goals and reducing its carbon footprint.”
    The article was curated by Prittle Prattle News as an industry story.
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  • Technological and Startup Ecosystem in Budget 2024-2025

    How Budget 2024-2025 Supports Innovation and Growth

    The Union Budget 2024-2025, presented by Finance Minister Nirmala Sitharaman, has laid out a comprehensive framework to bolster technological innovation and support the startup ecosystem in India. The budget introduces several key initiatives aimed at reducing tax burdens, simplifying compliance, and fostering an environment conducive to innovation and growth.

    Dilip Chenoy, Chairperson, Bharat Web3 Association

    “The nine focus areas of budget 2024 are key steps towards our goal of Viksit Bharat. The budget also lays out a clear framework for digitisation of various sectors, where Web3 technology could play a critical role. We were hoping for some relaxation to the taxation framework on VDAs in this budget, but the absence of any announcement is not particularly disheartening, given the Govt’s overall negative stance towards the sector.

    We have submitted data-backed quantitative analyses regarding the flight of users’ trading and transactions, as well as the potential increase in government revenue should the taxation structure be revised. We will continue to push for rationalization of the taxation framework, which includes reducing the TDS to 0.01%, allowing setoff of losses on VDA transactions and modifying the 30% tax on capital gains. We are hopeful that the government will consider our requests and that we will see changes in the future. On the positive, abolishing the angel tax for all classes of investors will work towards bolstering the Indian startup ecosystem. We look forward to more Web3 startups setting base in India, given India’s immense Web3 talent and potential. Finally, the impetus provided to blockchain skilling and talent development in the Economic Survey can empower youth for the exciting opportunities in Web3 and contribute to a skilled ecosystem for Web3 adoption.”

    Shivam Thakral, CEO of BuyUcoin, India’s second-longest running digital asset exchange
    “We welcome the positive announcements made by the honorable finance minister in today’s budget. However, the demands of the Web3 sector were not met and we will continue our constructive dialogue with the regulators to address the industry concerns. Here is our analysis of the Union Budget 2024: Angel tax abolished: India’s startup ecosystem received a big boost in today’s budget as the angel tax is abolished for all classes of investors.
    This move will be a gamechanger for startups planning to raise funds for their expansion as it will give startups more surplus funds to invest in product innovation and technology development to implement their long-term vision for the industry. The move will encourage a lot of innovators to start their entrepreneurial journey and VCs will find it more convenient to invest in early-stage startups. With deep-tech, blockchain and emerging technologies in focus. VCs will be keen to bet on innovative technologies to facilitate the transition from Web2 to Web3. TDS on VDAs untouched: However, Web3 as a sector was slightly ignored in the budget as the request to reduce the TDS on VDA transactions was not accommodated in the budget announcement. The delay in reducing the TDS will hamper the industry growth prospects as digital assets will not have a level playing field with other asset classes like stocks, gold and real estate. Higher tax and not allowed to offset gains: The high tax on gains from VDAs still stands at 30% which is relatively very high and the users are not allowed to offset losses like stocks. This move will prove to be detrimental for the web3 industry as it deprives the industry from a level playing field.
    Emerging tech in focus: In an encouraging move, the government highlighted the importance of technologies like blockchain and artificial intelligence. Government is actively involved in leveraging the potential of blockchain and AI for better governance and enhanced delivery of citizen schemes. At the same time, the economic survey also talks about the threats and challenges associated with Artificial Intelligence. The deep-fake incidents that occurred recently calls for a responsible use of emerging technologies through constructive collaboration between government and private players.”
    Mr. Kartik Chhaya, Chief Operating Officer, Rupeeseed
    “We welcome the Union Budget 2024’s forward-thinking approach, particularly the reduction in corporate tax rates for foreign companies and the simplification of FDI rules. These measures will enhance India’s attractiveness as a global tech hub. The focus on employment-linked skilling and the support for MSMEs, including the credit guarantee scheme, align well with our mission at Rupeeseed to drive innovation and growth in the fintech sector. Additionally, the emphasis on developing DPI applications and improving IBC outcomes will streamline processes and foster a more efficient financial ecosystem. Notably, the Budget’s move to address Angel Tax concerns for startup entrepreneurs is a significant step forward. By providing clarity and relief in this area, the government is helping to create a more supportive environment for startups, which is crucial for fostering innovation and attracting investment. Overall, this budget sets a robust foundation for technological advancement and economic growth, which augurs well for businesses.”
    Mr. Abhinav Jain, Co-Founder & CEO, Almonds AI
    “The Union Budget 2024 has delivered a landmark decision for India’s startup ecosystem. The abolition of angel tax for all investor classes is a game-changing move that signals the government’s unwavering commitment to nurturing our nation’s innovative spirit. This pivotal reform will inject much-needed momentum into our startup landscape, which has faced headwinds recently. By removing this significant barrier to investment, the Budget 2024 is not just opening doors – it’s constructing highways for capital to flow into groundbreaking ideas. This bold step, building upon previous initiatives like the Startup India program, positions India to regain its growth trajectory in the startup space. The Union Budget 2024 sends a clear message: India is not only open for business but is actively cultivating the next wave of entrepreneurs who will propel our economy forward.”
    Mr. Utkarsh Gupta, Managing Director- Ramagya Group:
    “Finance Minister Nirmala Sitharaman’s latest budget sets forth an ambitious plan to empower 41 million youth over the next five years with a central outlay of ₹2 lakh crore. This includes significant allocations for education, skilling, and employment, which are critical areas for India’s growth. The government’s decision to provide financial support for higher education loans up to ₹10 lakh will make quality education more accessible, ensuring that students from all backgrounds have the opportunity to succeed. The focus on upgrading 1,000 Industrial Training Institutes (ITIs) and aligning their curriculum with industry needs will bridge the gap between academic learning and market requirements. At Ramagya Group, we are excited about these developments and are committed to supporting the government’s vision for a skilled and educated India.”
    Conclusion:
    The Budget 2024-2025 provides a significant boost to the technological and startup ecosystem in India. By addressing key concerns like angel tax and simplifying compliance, the government is fostering an environment that encourages innovation and investment. As industry leaders express their optimism, it is evident that these measures will pave the way for sustained growth and technological advancement in the country.
    The article was curated by Prittle Prattle News as an industry story feature.
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