Chemical and Agriculture- On Behalf of Madhur Singhal, Managing Partner, Chemical and Agriculture, Praxis Global Alliance
-The focus on developing high-yielding and climate-resilient crop varieties is a monumental step for our agricultural sector. The introduction of 109 new varieties of field and horticultural crops will revolutionize productivity and sustainability for our farmers, making us more resilient in the face of climate challenges. The government’s commitment to enhancing natural farming practices by supporting 1 crore farmers is a forward-thinking approach that aligns with our industry’s goals for sustainable agriculture.”
-“The establishment of 10,000 bio-input resource centers will empower our farmers with the tools and resources needed to transition to more organic and sustainable farming methods. These initiatives underscore the government’s dedication to ensuring food security and self-reliance in oilseed production, a crucial aspect for India’s agricultural landscape.”
1. “The 2024-25 budget’s robust allocation of ₹20 lakh crore for agricultural credit reaffirms the government’s dedication to strengthening the agricultural sector. This investment is set to provide farmers with the financial support needed to enhance productivity and ensure food security.”
2. “The budget’s focus on promoting natural farming techniques and sustainable practices represents a forward-looking approach to agriculture. By integrating traditional wisdom with modern innovation, the government is paving the way for a greener and more resilient agricultural sector.”
3. “With increased funding for agricultural infrastructure and rural development, the budget addresses critical needs in the agricultural sector. This support will not only boost productivity but also improve the overall quality of life for farmers and rural communities.”
4. “The emphasis on expanding irrigation facilities and improving crop insurance schemes underscores the government’s commitment to mitigating risks and enhancing agricultural resilience in the face of climate change and market fluctuations.”
5. “The budget’s provisions for agricultural technology and research signify a significant push towards modernizing farming practices. This investment in innovation is expected to drive efficiency and sustainability, positioning India’s agriculture for long-term growth.”
Financial Services for Madhur Singhal, Managing Partner, Financial Services, Praxis Global Alliance
> “The development of a comprehensive financial sector vision and strategy document is a significant step towards preparing the sector for future growth. This initiative will undoubtedly foster a more robust and resilient financial ecosystem capable of meeting the economy’s demands.”
> The introduction of the NPS-Vatsalya plan provides a unique opportunity for parents and guardians to invest in their children’s future, ensuring financial security and encouraging long-term savings habits.”
Private Capital For Madhur Singhal, Managing Partner, Private Capital, Praxis Global Alliance
The simplification of Foreign Direct Investment (FDI) rules is a welcome move that will undoubtedly attract more overseas investors, providing a much-needed boost to our private capital markets. This will open new avenues for growth and innovation, positioning India as a more attractive destination for global investors.”
> “The proposed Variable Capital Company structure offers an efficient and flexible mode for financing, which is a game-changer for industries like aviation and maritime. This will enhance our competitiveness and ensure we remain at the forefront of global private equity opportunities.”
“We are particularly encouraged by the 2024-25 budget’s announcement of a ₹100 crore credit guarantee scheme for manufacturing MSMEs. This initiative will significantly enhance access to finance for small and medium-sized enterprises in the manufacturing sector, enabling them to scale operations and innovate. At Praxis Global Alliance, we believe this support is crucial for driving growth and competitiveness within the sector, and we look forward to leveraging these opportunities to further strengthen our contribution to the industry.”
Healthcare and Lifesciences for Aryaman Tandon, Managing Partner, Healthcare, Praxis Global Alliance
> “The full exemption of three more cancer medicines from custom duties is a commendable move that will significantly reduce the cost burden on patients and enhance access to essential treatments. This demonstrates the government’s commitment to making healthcare more affordable and accessible.”**
> “The budget’s focus on affordable medicines and support for the domestic pharmaceutical industry will foster innovation and competitiveness, driving growth in the healthcare sector while ensuring the well-being of our citizens.”
“The 2024-25 budget’s focus on the healthcare sector, with an allocation of ₹85,000 crore and increased support for pharmaceutical research, is a significant boost for the industry. As a leading company in the healthcare space, we are particularly encouraged by the government’s commitment to enhancing public health infrastructure and supporting innovation in pharmaceuticals. This budget paves the way for collaborative efforts to advance healthcare delivery, expand access to essential medicines, and drive breakthroughs in treatment.”
Tourism for Madhur Singhal, Managing Partner, Consumer and Internet , Praxis Global Alliance
The 2024-25 budget’s strategic investments in tourism infrastructure and promotion reflect a strong commitment to revitalizing India’s tourism sector. By enhancing facilities and supporting sustainable tourism initiatives, the government is poised to attract global visitors and boost economic growth, creating vibrant opportunities for local communities and showcasing India’s diverse cultural heritage.
We are excited about the budget’s initiative to promote Nalanda in Bihar and Odisha as premier tourism destinations. This strategic focus will not only highlight the rich historical and cultural heritage of these regions but also drive sustainable economic growth through tourism. By investing in the development and promotion of these iconic sites, we are paving the way for enhanced global recognition and increased visitor engagement, benefiting local communities and preserving our national heritage.
“We welcome the 2024-25 budget’s ambitious allocation of ₹70,000 crore for infrastructure development, which is a significant boost for our sector. The increased focus on expanding road and rail networks, along with the introduction of tax incentives for infrastructure projects, aligns perfectly with our company’s strategic goals. This investment not only promises to enhance connectivity and operational efficiency but also provides a solid foundation for long-term growth and innovation in the industry. We are excited about the opportunities this budget presents and are committed to leveraging these developments to drive sustainable progress and deliver exceptional value to our stakeholders.”
Technology for Aryaman Tandon, Managing Partner, Technology at Praxis Global Alliance
> “The government’s emphasis on digital public infrastructure is a visionary step towards integrating technology into the backbone of our economy. By implementing digital crop surveys and creating farmer and land registries, we are setting the stage for a digital revolution in agriculture that will improve efficiency and transparency.”
> “The advancement in digitalization across various sectors, from healthcare to education, will bridge the gap between urban and rural areas, providing equal opportunities and access to resources for all citizens.”
Artificial Intelligence (AI)
1. “The 2024-25 budget’s substantial investment in artificial intelligence marks a pivotal moment for India’s technological landscape. By focusing on AI research and development, the government is setting the stage for India to emerge as a global leader in next-generation technologies.”
2. “With dedicated quotes AI innovation and digital infrastructure, the budget is a testament to the government’s commitment to integrating AI into various sectors, driving efficiency, and enhancing economic growth.”
3. *The emphasis on AI and machine learning in this budget underscores a forward-thinking approach, equipping India to leverage AI for transformative impacts across industries and societal sectors.”
Mobility for Aryaman Tandon, Managing Partner, Mobility, Energy, and Transportation, Praxis Global Alliance
> “The reduction of customs duty on key components like mobile phones and solar panels is a strategic move that will boost domestic manufacturing and drive the adoption of renewable energy. This aligns perfectly with our industry’s goals of sustainability and technological advancement.”
> “The government’s focus on energy transition and strategic sector support will propel India towards a greener future, ensuring our energy security while fostering innovation in mobility and transportation.”
-The 2024-25 budget’s focus on advancing solar and thermal power reflects a significant leap forward for the energy sector. These measures not only bolster our commitment to sustainable energy but also pave the way for innovative advancements and increased efficiency. We are excited about the opportunities this budget creates for driving clean energy initiatives and contributing to India’s energy future
Consumer for Madhur Singhal, Managing Partner, Consumer and Internet, Praxis Global Alliance
> “Promoting Farmer-Producer Organizations, cooperatives, and start-ups for vegetable supply chains is a crucial step towards modernizing our agricultural sector. This initiative will streamline the collection, storage, and marketing processes, benefiting both producers and consumers.”
> *The emphasis on digital infrastructure will enhance the consumer experience across various sectors, from e-commerce to financial services, making transactions more efficient and accessible to a broader audience.”
Next Gen Industrials (Automotive, Infrastructure, Engineering and Construction, Textiles, Discrete Manufacturing, Packaging, Manufacturing Services, Advanced Manufacturing)
> “The focus on next-generation reforms and digitalization in the manufacturing sector will propel India to the forefront of global innovation. By prioritizing advanced manufacturing techniques, we are ensuring that our industries remain competitive and future-ready.”
> “The proposed land-related reforms and the integration of GIS mapping and IT-based systems for property management will revolutionize the infrastructure and construction sectors, leading to more efficient urban planning and development.”
The emphasis on infrastructure development and technological advancement in manufacturing showcases India’s commitment to becoming a global leader in next-generation industries. “With increased investments in infrastructure, automotive, and advanced manufacturing, the budget signals a new era of industrial growth and innovation in India. “The government’s focus on enhancing industrial capabilities through technology and innovation is set to drive economic growth, creating new opportunities across sectors.
Metals and Mining for Madhur Singhal, Managing Partner, NextGen Industrials, Praxis Global Alliance
“The 2024-25 budget’s substantial allocation of ₹70,000 crore for infrastructure development is a game-changer for the mining and construction sectors. This investment will drive growth and innovation, enabling us to undertake significant projects and enhance connectivity across the country. The focus on modernizing railways and expanding road networks will not only streamline operations but also open new avenues for the mining sector, supporting our efforts to meet global demands more efficiently. With these strategic investments, we are optimistic about the future, as they provide a strong foundation for sustainable development and economic progress in our industries
Education for Madhur Singhal, Managing Partner, Consumer and Internet at Praxis Global Alliance
“We are pleased to see the Union Budget 2024-25 prioritize significant investments in education, including the allocation of ₹2.5 lakh crore for the sector. This substantial funding is expected to drive transformative improvements in educational infrastructure, teacher training, and student resources. Our company, [Your Company Name], views these measures as pivotal for enhancing educational outcomes and equipping students with the skills needed for the future. We look forward to collaborating with educational institutions to leverage these opportunities and contribute to India’s growing talent pool.”
For Madhur Singhal, Managing Partner, Consumer and Internet at Praxis Global Alliance
Real Estate
“The 2024-25 budget’s focus on enhancing affordable housing with an allocation of ₹70,000 crore for infrastructure development is a significant boost for the real estate sector. This funding will not only accelerate the development of affordable housing projects but also stimulate demand across the real estate market. Our company is excited about the potential opportunities this brings and is committed to leveraging these investments to drive innovation and growth in the sector.”
Startup
“With the introduction of new tax incentives and the extension of the ‘Startup India’ scheme, the 2024-25 budget is a game-changer for entrepreneurs. The enhanced funding for innovation and technology incubators will provide crucial support for startups, fostering a thriving ecosystem. Our company is poised to take full advantage of these initiatives, aiming to accelerate our growth and contribute to the vibrant startup landscape in India.”
Construction & Interior Design
“The budget’s allocation of ₹70,000 crore towards infrastructure development and the focus on modernizing construction practices are highly encouraging for the construction and interior design sectors. These investments are set to enhance project efficiencies and drive the adoption of advanced technologies. Our company is enthusiastic about these developments and is committed to aligning our strategies with the government’s vision for sustainable and innovative construction practices.”