Budget 2023 Reaction from RR Global and Vahak

Budget 2023 Reaction from RR Global and Vahak

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Mr. Shreegopal Kabra, MD & Group President, RR Global:

“This Union Budget, we applaud the Government’s focus on the growth of green infrastructure that supports factors like green building, green energy, and green equipment. These sustainable practices are a step in the right direction to achieve the goal of net zero carbon emission by 2070. At RR Kabel, we support the Government in building a sustainable and safe ecosystem for the future generation.

Additionally, the budget aims to achieve efficient urban infrastructure with programs like Smart Cities Mission for 100 cities and the Atal Mission for Rejuvenation and Urban Transformation (AMRUT) for 500 urban bodies. The budget also places a lot of emphasis on developing the nation’s infrastructure by giving impetus to Tier 2 and 3 cities for developing urban infrastructure.

As a company committed to safety through quality, we hoped the Government would lay emphasis on the need to build safe infrastructure through the use of technologically advanced premium quality products. As we step into a new financial year, we are determined to support the government’s objective of a stronger economy that is built on robust infrastructure.”

Rajesh Kabra, Director, RR Parkon

One of the priorities of the Union Budget was the focus on Green Growth which will help accelerate factors like green fuel, green energy, green mobility, green buildings, green equipment, and more. As RR Parkon has always been at the forefront of introducing sustainable solutions for generations to come, we welcome this move wholeheartedly.

The Government’s goal of having a country with net zero carbon emissions by the year 2070 is a bold and outstanding step in the right direction. Automated Parking Systems are an ideal choice to reduce carbon emissions as the slower the vehicles go, the greater their emissions of Co2 and other greenhouse gases. Automated parking systems are aimed to reduce carbon emissions by 20-30 percent simultaneously saving car owners the frustration of finding parking in busy areas. They also play a significant role in saving green spaces as compared to traditional parking systems.

Support for urban infrastructure will also persuade people to embrace sustainable lifestyles and smart home technologies. Cities and states will be encouraged to engage in urban planning and provide enough resources for urban infrastructure through the Smart Cities Mission for 100 cities and the Atal Mission for Rejuvenation and Urban Transformation (AMRUT) for 500 urban bodies. Being a leader in automated parking systems, we aim to assist the government with these measures by implementing sustainable manufacturing processes and lowering the carbon footprint at our factories.

Lastly, this Budget has laid a solid foundation to transform India into a technology-driven country by boosting education, skill development, entrepreneurship, R&D, Digital Infrastructure, Green Growth, and job creation. As a result, there will be a greater emphasis on investing in technology that will help develop cutting-edge applications and scalable problem solutions for a sustainable tomorrow.

Kirti Kabra, Director, RR Global

As a woman entrepreneur, I believe that financial independence for women is imperative and the announcement of the Mahila Samman Savings Certificate through the 2023- 24 Union Budget is a step in the right direction. As more women are getting educated, it is imperative for the Government to create job opportunities for rural women. The brand promotion and linkage with local and global markets will uplift women belonging to the economically weaker section and give them a chance to showcase their capabilities and talents, not just nationally, but also on a global front.

Karan Shaha, Co-founder and CEO, Vahak

A commendable Budget by the Hon’ble Finance Minister. In line with our expectations, #Budget2023 has focused on incentivizing state governments for infrastructure development. The Centre’s support with an enhanced outlay of Rs. 1.3 lakh crore will definitely act as the accelerator toward logistics policy creation at the state level. With this in place, we are hoping to see good traction in transportation infra creation, especially related to top freight routes, logistics parks, and highway development. Additionally, opening opportunities for private investments in infra will pump in efforts toward roads, urban infrastructure, and power sector developments, which are critical for efficient transportation and transition to green mobility.

We also welcome the decision to extend the income tax benefits for start-ups and the formation of the National Data Governance Policy. These were much needed given the market dynamics and the fast-emerging start-up ecosystem.

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