Budget reaction quote :: Pocket Aces, India’s largest digital media company creating content across genres and distribution platforms

Kunal Lakhara, CFO, Pocket Aces

“The Union Budget for 2023–24 will be extremely significant for the Indian startup sector. Given its impressive growth trajectory, this business is regarded as the third-largest sector in India. This industry will receive a big boost from the additional year-long extension in terms of income tax benefits.

When it comes to the M&E industry, the government’s plan to establish 100 laboratories that would concentrate on creating applications using 5G services will lead to the introduction of seamless streaming and bolstered audio & video services for viewers. The Budget also announced the launch of Pradhan Mantri Kaushal Vikas Yojana 4.0 which will help the youth build new-age skills such as coding, IoT, and soft skills amongst much more. With rising demand for such skills especially in the startup industry, we are poised to witness increased employment in the country.

Overall, by emphasizing the development of digital infrastructure and youth empowerment initiatives, the much anticipated Union Budget 2023–24 has established a solid base for the economy to expand. We are now anticipating an increased growth rate that will assist India in redefining its place within the global economy.”- To be attributed to Mr. Kunal Lakhara, CFO, Pocket Aces

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