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The business leaders are making a say in the Budget 2022

By Vidushi Miya
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The minute Budget 2022 was discussed a lot of speculations were going on how, when, and what will be the budget of this year, and after the parliamentary proceedings many businesses tycoon like Kiron Mazumdar Shaw the chairperson of Biocon is emphasizing that pharma needs to invest more in R&D  to stand in the global race and compete with the Asian peers -Korea, Taiwan, Singapore. One needs research linked incentives to increase R&D spending from <1% of GDP to at least 1.5% of GDP Metrics -patents.

She is hoping that the booster dose of incentives should overcome the pandemic impact on our economy. We need to spur consumption n to revive travel, tourism, and hospitality. The common man needs more disposable income to combat inflation.

The chairperson of Mahindra and Mahindra tweeted that developments in 3D printed homes overseas could help in booting up the economy. Critical for India but so delighted home-grown tech from IIT Madras (now one of the world’s leading Tech-Incubators) people has raised some seed funding and some room to join for more.

Innovation is key to non-linear growth. We need self-reliance in the next generation biopharma R&D and local API and KSM capacity to earn global leadership and ensure affordable healthcare for all. Economic survey 2021-22 – India as the Pharmacy of the world-needs to reduce dependence on imports and more on exports with the more multi-channel campaign.

The economic survey 2022 projecting 9.2% GDP growth in 2021-22 and 8%-8.5% during 2022-23 underscores the role of path-breaking reforms undertaken by the government to address the challenges of the economy during the pandemic and warrant sustainable growth.

As a result of the policy put in place, the economic survey articulates that India is gradually coming out of the 23.9 percent contraction in GDP in the first quarter and is expected to witness a V-shaped recovery.
It talks about the ‘supply’ shock due to the lockdown but says that the measures are undertaken by the government and the Reserve Bank of India (RBI) not only have been adequate but also have prepared the economy to sail through when the pent-up demand returns. Expansion in highways, luminance all around India are part of plans in This Economic survey, and Delhi is now the startup capital.

Vidushi Miya 412 posts

Making people see the bright side of journalism. Penning down thoughts and reality simultaneously so keep your senses vigilant. There's always space to start from scratch.

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