Karnataka

Good intent, but what matters is execution: Business heads

Business leaders in the city called the budget proposals a positive move and an attempt aimed at boosting the economy. But the important question that still remains is: how many of these project proposals and investments will actually become ground realities?

Vishal Bali, Executive Chairman, Asia Healthcare Holdings, said: “The budget attempts to strike a balance on various fronts. All steps in the right direction. But what needs to be seen is the implementation and execution of these changes.”

Localisation of the medical technology industry needed a lot more impetus and reduction in input cost rather than increasing taxes on imported technology. “All increases in duties/taxes ultimately makes technology expensive which in turn increases cost of healthcare to patients,” said Mr. Bali.

Somesh Mittal, MD & CEO, Vikram Hospital, said: “We are happy that the government has announced ₹69,000 crore for the healthcare sector of which PM Jan Arogya Yojana will get ₹6,400 crore. This will go a long way towards ensuring better healthcare.”

However, the additional 5% tax on imported medical devices, to fund healthcare infrastructure in tier 2-3 cities and provide protection to indigenous manufacturers, would increase cost to the consumers in the short run, added Mr. Bali.

“Multiple announcements, including reducing the tax burden on employees, setting up of entrepreneurship cells and supporting seed fund investment for early-stage startups - all only reinforces what young India has delivered through startups, over the years,” reacted city entrepreneur, Musthafa P.C., co-founder and CEO, iD Fresh Food.

The budget brought optimism to telecom and electronics manufacturing segments, as per R.M. Agarwal, Chairman & Managing Director, ITI, a public sector undertaking.

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Printable version | Feb 23, 2020 1:49:37 PM | https://www.thehindu.com/news/national/karnataka/good-intent-but-what-matters-is-execution-business-heads/article30716290.ece

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