Union Budget 2022: Here's How Industry Experts React

The COVID-19 pandemic has taught the entire world the importance of having a strong healthcare sector. With Omicron spreading now, healthcare has again become one of the biggest focus areas for governments as well as individuals.

Union Budget 2022: Here's How Industry Experts React

The COVID-19 pandemic has taught the entire world the importance of having a strong healthcare sector. With Omicron spreading now, healthcare has again become one of the biggest focus areas for governments as well as individuals.

Talking about the aim of the 2022 healthcare budget MD Radiologist Dr. Sunita Dube said that there are still certain gaps to be filled.

“The budget for healthcare facilities appears to be quite futuristic, however it appears that they do not intend to grant individuals any exemptions or privileges. There were certain expectations, such as decreased customs taxes and less GST on emergency and vital drugs. When it comes to Maharashtra, and primarily Mumbai, this region was the hardest hit by COVID, therefore we expected improvements in health and infrastructure. In addition, the budget is likely to increase by 7 to 8 per cent, she added.

Meanwhile, the budget talks about National Tele Mental Health Programme which will include a network of 23 tele-mental health centres.

“The national digital healthcare ecosystem and national telemental health programme are the best parts of the healthcare budget; since the pandemic, mental health has been the most deteriorated, and mental health counselling was expected to make it available to the majority of the population. I believe that strong investments in healthcare can help buoy the nation’s economy. As India faces the worst ever health crisis of all times, experts believe that COVID-19 will at least provide the positive aspect in increasing the healthcare budget,” Dube further mentioned.

On the education front, ‘One class-One TV channel’ programme of PM eVIDYA is set be expanded to 200 TV channels.  Dr Mona Lisa Bal, Chairperson, KiiT International School remarked, "Increase of 'One Class One TV Channel' is a welcome move but it will not be enough. It is important that we adapt our education system, pedagogies, and assessments according to the changing times. Thus, the launch of Digital DESH e-portal for skilling, upskilling and reskilling will be key to adapting to the shifting dynamics of our present. Setting up of virtual labs and skilling e-labs will be valuable in developing critical thinking amongst students. Access to high quality e-content can help enhance the quality of education received by students. Making this accessible in regional languages additionally is a positive step towards a wholesome education."

On the other hand, lauding the Budget, Dr. Niranjan Hiranandani, Provost, HSNC University, Mumbai, shared: “Setting up of digital universities will enhance the availability of education to the rural students following the hub and spoke model. With easy access to education in regional language, every student will get an opportunity to empower and equip themselves. Besides, there is a surge in the scope of personalized learning, especially in the digital ecosystem. Moreover, the skilling courses will not just encourage learners to apply critical thinking and creativity but also make them industry-ready, which is evidence of shaping the youth of India for a better future."

With a scheme for design-led manufacturing to be launched to build a strong ecosystem for 5G as part of the Production Linked Incentive Scheme. CP Gurnani, MD & CEO, Tech Mahindra, said, “The budget truly echoes India’s vision towards inclusive development by providing a blueprint for the economy over ‘Amrit Kal’ from India at 75 to India at 100. FM’s key announcements on blockchain and setting up e-passports with futuristic technologies are a step in the right direction to help India emerge as a global technology leader. The focus on innovation and R&D with an emphasis on strengthening talent capacity through STEM universities and skilling courses in IIT’s will enable India to become a global hub for skilled talent.”

Additionally, clean tech and governance solutions, special mobility zones with zero fossil-fuel policy, and EV vehicles have been pushed in public transport. A battery swapping policy will be brought out. To this, Sohinder Gill, Director General, Society of Manufacturers of Electric Vehicles (SMEV) mentioned, "The budget for 2022–23 gives a huge impetus to the electric vehicle (EV) industry. Introducing the battery swapping policy and recognizing battery or energy as a service will help to develop EV infrastructure and increase the use of EVs in public transportation. It would motivate businesses engaged in delivery and ride aggregation businesses to incorporate EVs into their fleet. It will create new avenues for companies to venture into the business of battery swapping. Overall, the budget aims at strengthening the whole ecosystem of the EV industry, which will spur the demand for green vehicles.”

Moreover, Nitin Gupta, Co-Founder and CEO Attero Recycling said, “In the Union Budget tabled today, a battery swapping policy has been proposed. These steps will not just have a positive impact on the existing players but will also encourage new players. We also welcome the government’s decision to issue sovereign Green Bonds in public sector projects to reduce carbon footprint in the economy. The budget also lays emphasis on transitioning towards a circular economy and touched upon Li-ion battery recycling and Electronic waste management. As the industry grows, we are aligned to play our part in the EV ecosystem by recycling end of life Li-ion batteries and helping India be Atmanirbhar in key elements such as Lithium, cobalt and nickel."

“We welcome the measures announced by the honourable Finance Minister Nirmala Sitharaman and the Government of India in the Union Budget towards boosting electronic manufacturing in the country. The Union Budget 2022 has announced the easing of policies and has pledged to allocate INR 19,500 crores for PLI for manufacturing of high-efficiency modules,” expressed Kishan Jain, Director, Goldmedal Electricals.

Also Read: Union Budget 2022: Here's List Of Things To Get Cheap And Expensive

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