Mr. Rahul Garg | CEO & Founder

“It’s encouraging to see that despite the global recessionary waves, India's economy is

growing. The Union budget 2023–24 builds upon the foundation established by the previous

budget, with a vision of a prosperous, inclusive India where the fruits of growth reach all

sections. Overall, this budget continued focusing on promoting exports, boosting domestic

manufacturing, enhancing domestic value addition, encouraging green energy and mobility,

streamlining the supply chain, and providing economic support to MSMEs across the

country. Lowered tax rate of 15% to new companies starting manufacturing activities by

March 31, 2024, will act as a catalyst, driving the public-private partnership investment in

infrastructure, including railways and roads. The thrust on manufacturing & infrastructure

will enable the country to achieve the target of achieving a manufacturing potential to

export goods worth $1 trillion by 2030. National Green Hydrogen Mission will facilitate the

transition of the economy to low carbon intensity and reduce reliance on fossil fuel imports,

thus contributing to green growth. According to our commitments at COP26 and COP27 on

climate action, the Union Budget signalled the beginning of the decarbonization of India's

inbound supply chain. The National Data Governance Policy will unleash innovation and

research by start-ups and academia, enabling access to anonymous data. The Unified Skill

India Digital Platform would facilitate demand-based formal skilling, employer linkage

(including MSMEs). Revamped credit guarantee scheme for MSMEs to infuse Rs 9000 crore

into the corpus. The budget has brought about entrepreneur-friendly measures on the

policy and legal fronts to drive operational excellence across sectors. Access to

entrepreneurial initiatives to further bolster the economic and human resource foundation

of the country will drive start-up ecosystem.”

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