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BJP’s <keyword id="244459" type="PERSON" weightage="20" keywordseo="Parag-Shah">Parag Shah</keyword> won the Haryana vidhan sabha elections from the Ghatkopar East consituency with 53319 margin. He is the richest candidate to be contesting <keyword id="13126" type="LOCATION" weightage="20" keywordseo="Maharashtra">Maharashtra</keyword> state elections from the Ghatkopar East assembly. He declared assets worth ₹500.6 crore. His movable assets are worth ₹422 crore and immovable assets are worth ₹78 crore as per an <a href="https://timesofindia.indiatimes.com/city/mumbai/with-rs-500-crore-bjps-parag-shah-is-maharashtras-richest-contestant/articleshow/71450164.cms">affidavit submitted on Friday</a>. The properties are jointly owned by him and his wife. Shah is a real estate developer who owns and manages two construction companies. One of them is MAN InfraConstruction (MICL), a seven-year-old company which builds premium residential properties in Mumbai suburbs. He himself lives in a 5,710-sq ft bungalow in Thane, valued at ₹15 crore. Parag and his wife Mansi own 10 properties, jewellery worth ₹2.6 crore and a Ferrari California worth ₹2.45 crore. They also have shares which are valued at ₹299 crore. According to his IT returns, his annual income for 2018-2019 is at ₹13.7 crore. Whereas, his wife earned ₹11.4 crore during the same time. Shah’s political career began in two years back when he contested Mumbai civic election. Back then, he claimed to have assets worth ₹690 crore.

BJP’s Parag Shah, the richest candidate in Maharashtra, wins with more than half the vote share in Ghatkopar East

<ul><li><keyword id="244459" type="PERSON" weightage="20" keywordseo="Parag-Shah">Parag Shah</keyword> is the richest candidate in Maharashtra contesting for state elections. </li><li>He declared assets worth ₹500.6 crore in his affidavit. </li><li>Shah is a BJP candidate who reportedly earns ₹13.7 crore per annum, mostly through his real estate business, the Times of India reported citing IT returns. </li><li>He lives in a 5,710-sq ft bungalow in Thane which reportedly cost him ₹15 crore. </li><li>He and his wife own 10 properties, jewellery over ₹2.6 crore and a Ferrari California worth ₹2.45 crore.</li></ul>BJP’s Parag Shah is the richest candidate to be contesting Maharashtra state elections from the Ghatkopar East assembly. He declared assets worth ₹500.6 crore. His movable assets are worth ₹422 crore and immovable assets are worth ₹78 crore as per an <a href="https://timesofindia.indiatimes.com/city/mumbai/with-rs-500-crore-bjps-parag-shah-is-maharashtras-richest-contestant/articleshow/71450164.cms">affidavit submitted on Friday</a>. The properties are jointly owned by him and his wife. Shah is a real estate developer who owns and manages two construction companies. One of them is MAN InfraConstruction (MICL), a seven-year-old company which builds premium residential properties in Mumbai suburbs. He himself lives in a 5,710-sq ft bungalow in Thane, valued at ₹15 crore. Parag and his wife Mansi own 10 properties, jewellery worth ₹2.6 crore and a Ferrari California worth ₹2.45 crore. They also have shares which are valued at ₹299 crore. According to his IT returns, his annual income for 2018-2019 is at ₹13.7 crore. Whereas, his wife earned ₹11.4 crore during the same time. Shah’s political career began in two years back when he contested Mumbai civic election. Back then, he claimed to have assets worth ₹690 crore. See also: <a href="https://www.businessinsider.in/thelife/personalities/news/ratan-tata-investment-news-announcement/articleshow/71592210.cms">One of India's oldest billionaires is a serial investor in startups</a>

Meet Parag Shah, Maharashtra’s richest MLA candidate, who earns ₹13.7 crore per annum, lives in a 15-crore bungalow and drives a Ferrari California

Senior stars including skipper <keyword id="19899523" type="General" weightage="20" keywordseo="Rohit-Sharma" source="keywords">Rohit Sharma</keyword>, premier batter <keyword id="19907934" type="General" weightage="20" keywordseo="Virat-Kohli" source="keywords">Virat Kohli</keyword>, pace spearhead Jasprit Bumrah and leading spinner R Ashwin received exemptions as the national selectors struck a fine balance between domestic performers and potential talent while picking up four squads for the <keyword id="21466887" type="General" weightage="20" keywordseo="Duleep-Trophy" source="keywords">Duleep Trophy</keyword> starting September 5 in Bengaluru. The tournament will feature international stars such as <keyword id="19929450" type="General" weightage="20" keywordseo="Shubman-Gill" source="keywords">Shubman Gill</keyword>, Yashasvi Jaiswal, leading all-rounders <keyword id="19896466" type="General" weightage="20" keywordseo="Ravindra-Jadeja" source="keywords">Ravindra Jadeja</keyword>, Axar Patel, wrist spinner Kuldeep Yadav and pacer Mohammed Siraj. T20 captain <keyword id="19908088" type="General" weightage="20" keywordseo="Suryakumar-Yadav" source="keywords">Suryakumar Yadav</keyword>, who had played one Test against Australia in 2023 has also been picked. Apart from Surya, the others have confirmed slot in the team. Wicketkeeper <keyword id="19907058" type="General" weightage="20" keywordseo="Rishabh-Pant" source="keywords">Rishabh Pant</keyword>, who was part of India's T20 World Cup winning team, will also be featuring in the tournament, making it his first red-ball assignment after coming back from that horrific car accident in 2022. Also back in business will be another left-handed keeper <keyword id="19908087" type="General" weightage="20" keywordseo="Ishan-Kishan" source="keywords">Ishan Kishan</keyword>, who was removed from <keyword id="19901245" type="General" weightage="20" keywordseo="BCCI" source="keywords">BCCI</keyword>'s central contracts list after he skipped the Ranji Trophy tournament last season giving priority to cash-rich IPL. Sarfaraz Khan and Dhruv Jurel, both of whom played vital role in India's home series win against England are also in the mix. Keepers Aryan Juyal and Abhishek Porel are also part of the various squads. India players were supposed to play only one match and hence Kohli, Rohit, Bumrah and Ashwin were given exemptions. They had the choice to opt out as first reported by PTI on July 16. Suryakumar is part of Team C, led by Ruturaj Gaikwad, which also has two exciting young pacers -- Anshul Khamboj and Himanshu Chauhan, who would be under the scanner of the selectors following their exploits last season. Mohammed Siraj and Jadeja will turn up for Team B which also comprises Pant, Yashasvi Jaiswal and Washington Sundar, while Shubman Gill will captain Team A, which consists of Kuldeep, <keyword id="19907933" type="General" weightage="20" keywordseo="KL-Rahul" source="keywords">KL Rahul</keyword>, Shivam Dube and Riyan Parag among others. Apart from Parag, Goalpara-born Akash Sengupta is the other cricketer from Assam to feature in the tournament. He is part of Team D, which will be led by Shreyas lyer with Ishan Kishan, Axar Patel, Arshdeep Singh as other teammates. Pace sensation Mayank Yadav, who is recovering from lower abdominal injury, is yet to regain fitness and will miss the event. Nitish Kumar Reddy's participation is also subject to fitness. India are slated to play two Test matches against Bangladesh - from September 19 at Chennai and from September 27 at Kanpur. "The athletes who will be selected to represent India for the home Test series against Bangladesh will be replaced in the Duleep Trophy," BCCI secretary Jay Shah said in a release. The Duleep Trophy was earlier scheduled to kick-off with two sets of first round matches at Anantapur in Andhra Pradesh from September 5, but now one of those games has been shifted to the M Chinnaswamy Stadium here to reduce the logistical inconveniences. The four squads for the first round of the tournament: Team A: Shubman Gill (C), Mayank Agarwal, Riyan Parag, Dhruv Jurel, KL Rahul, Tilak Varma, Shivam Dube, Tanush Kotian, Kuldeep Yadav, Akash Deep, Prasidh Krishna, Khaleel Ahmed, Avesh Khan, Vidwath Kaverappa, Kumar Kushagra, Shaswat Rawat. Team B: Abhimanyu Easwaran (C), Yashasvi Jaiswal, Sarfaraz Khan, Rishabh Pant, Musheer Khan, Nitish Kumar Reddy*, Washington Sundar, Ravindra Jadeja, Mohd Siraj, Yash Dayal, Mukesh Kumar, Rahul Chahar, R Sai Kishore, Mohit Awasthi, N Jagadeesan (WK). Team C: Ruturaj Gaikwad (C), Sai Sudharsan, Rajat Patidar, Abishek Porel (WK), Suryakumar Yadav, B Indrajith, Hrithik Shokeen, Manav Suthar, Umran Malik, Vyshak Vijaykumar, Anshul Khamboj, Himanshu Chauhan, Mayank Markande, Aryan Juyal (WK), Sandeep Warrier. Team D: Shreyas lyer (C), Atharva Taide, Yash Dubey, Devdutt Padikkal, Ishan Kishan (WK), Ricky Bhui, Saransh Jain, Axar Patel, Arshdeep Singh, Aditya Thakare, Harshit Rana, Tushar Deshpande, Akash Sengupta, KS Bharat (WK), Saurabh Kumar. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-9-pro-fold-launched-in-india-at-172999-but-you-cant-get-your-hands-on-it-right-now/articleshow/112517193.cms">Google Pixel 9 Pro Fold launched in India at ₹1,72,999, but you can’t get your hands on it right now</a> <a href="https://www.businessinsider.in/tech/mobile/news/pixel-9-pixel-9-pro-and-pixel-9-pro-xl-launched-in-india-starting-at-79999/articleshow/112512198.cms">Pixel 9, Pixel 9 Pro and Pixel 9 Pro XL launched in India starting at ₹79,999</a> <a href="https://www.businessinsider.in/stock-market/news/ipo-scam-two-victims-from-hyderabad-lose-over-11crore-in-fake-ipo-scams/articleshow/112488051.cms">IPO scam – Two victims from Hyderabad lose over ₹11 crore in fake IPO scams</a>

Big stars Kohli, Rohit exempted as Gill, Pant, Rahul, Jadeja set to play Duleep Trophy

<ul><li>According to data given by Association of Democratic Reforms, out of 3112 candidates analysed, 1007 are crorepatis.</li><li>The highest number of crorepatis got a ticket from the Bharatiya Janata Party.</li><li>Parag Shah of BJP who is contesting for Ghatkopar East constituency is the richest candidate with total assets of over ₹500 crores. </li></ul>A large number of rich candidates will be seeking votes as Maharashtra will vote on October 21. As many as 3237 candidates are fighting it out for 288 seats. As per data by Association of Democratic Reforms, out of 3112 candidates analysed, 1007 are crorepatis. This is in spite of a significant decrease in the number of crorepati candidates. During ,2014 Assembly elections, the total number of candidates was lower (2,336) but around half of them were 1,095 crorepatis. Bharatiya Janata Party has given tickets to more such. As 96% of its analysed candidates are crorepatis. Meanwhile, 86% of the Indian National Congress’ analysed candidates too hold the same status. From Shiv Sena’s analysed candidates, 94% are crorepatis, while NCP and MNS have 87% and 53% respectively. The average assets per candidate stood at ₹4.21 crore. While the average assets for BJP candidates stood at ₹23.58 crore, for INC the number is ₹14.78 crore. <a href="https://www.businessinsider.in/politics/elections/news/meet-parag-shah-maharashtras-richest-mla-candidate-who-earns-13-7-crore-per-annum/articleshow/71596946.cms">Parag Shah</a> of BJP who is contesting for Ghatkopar East constituency is the richest candidate with total assets of over ₹500 crore. See Also: <a href="https://www.businessinsider.in/politics/elections/news/meet-parag-shah-maharashtras-richest-mla-candidate-who-earns-13-7-crore-per-annum/articleshow/71596946.cms">Meet Parag Shah, Maharashtra’s richest MLA candidate, who earns ₹13.7 crore per annum, lives in a 15-crore bungalow and drives a Ferrari California</a>

A third of Maharashtra’s MLA candidates are crorepatis and BJP has 96% of them

<ul><li>Parag Shah is the richest candidate in Maharashtra contesting for state elections. </li><li>He is followed by BJP’s Mangalprabhat Lodha, who has assets over ₹ 400 crore </li><li>Out of the 3112 candidates analysed by ADR , 1007 are crorepatis. </li></ul>With ₹500 crore worth assets, BJP’s Parag Shah is the richest candidate to be contesting Maharashtra state elections from the Ghatkopar East assembly. He is followed by BJP’s Mangalprabhat Lodha, who has assets over ₹400 crore. Sanjay Chandrakant Jagpat is the third richest MLA candidate contesting for Purandar constituency. There are 3,237 candidates contesting for 288 seats in Maharashtra. Out of the 3,112 candidates analysed by ADR, 1007 are crorepatis. Party-wise, 96% of the BJP’s candidates — thats’ 155 out of 162 candidates — are crorepatis. The top two richest candidates are from BJP while the third is from Congress. Here are the richest candidates contesting in Maharashtra Assembly Elections Parag Shah Party Name: BJP Constituency Name: Ghatkopar East Total Assets: ₹500 crore Mangalprabhat Lodha Party Name: BJP Constituency Name: Malabar Hill Total Assets: ₹441 crore Sanjay Chandrakant Jagpat Party Name: INC Constituency Name: Purandar Total Assets: ₹245 crore Kadam Vishwajeet Patangrao Party Name: INC Constituency Name: Palus Kadegaon Total Assets: ₹216 crore Abu Azim Asmi Party Name: SP Constituency Name: Mankhurd Shivajinagar Total Assets: ₹209 crore Rajesh Sambhajirao Pawar Party Name: BJP Constituency Name: Naigaon Total Assets: ₹191 crore Prasant Ramsheth Thakur Party Name: BJP Constituency Name: Panvel Total Assets: ₹183 crore Meghe Sameer Dattatraya Party Name: BJP Constituency Name: Hingna Total Assets: ₹159 crore Ghatge Samarjeetsinh Party Name: IND Constituency Name: Kagal Total Assets: ₹152 crore Mulik Jagdish Tukaram Party Name: BJP Constituency Name: Vadgaon Sheri Total Assets: ₹147 crore

The top ten richest MLA candidates in Maharashtra election together are worth ₹2400 crore

New Delhi, Mar 31 () GCMMF, which sells dairy products under the Amul brand, expects demand for its milk to decline by 10-12 per cent as hotels and restaurants have closed after the nationwide lockdown, while procurement of milk from farmers has increased by 15 per cent. Mother Dairy and Parag Milk have also witnessed fall in demand in absence of institutional sales, but they hope that some of it could be compensated by rise in household consumption.India is the leading milk producer in the world with an annual output of around 190 million tonne.When contacted, Gujarat Cooperative Milk Marketing Federation (GCMMF) MD R S Sodhi said the demand for milk had gone up to 155 lakh litre per day due to panic buying from an average 140 lakh litre of sales per day. "Last week, our sales fell by 30 cent from the average 140 lakh litre per day. But again it has risen. Now the gap is 18 per cent and demand will further improve," he told .Sodhi said the cooperative expects demand to fall by 10-12 per cent due to closure of hotels, restaurants and cafeterias.On the other hand, he said the procurement of milk from dairy farmers has increased 15 per cent with tea shops and sweet makers not buying milk from them and the surplus going to GCMMF.''We have hired 2-3 plants to process these surplus milk and convert it into skimmed milk powder," Sodhi said.Asked about other dairy products, he said the demand for some items like butter milk, paneer and ghee has gone up while sales of ice cream, cream and cheese have fallen. Sodhi said the demand will increase once the lockdown is lifted. He said sales improve in summers. When contacted, Mother Dairy spokesperson said it is maintaining the average milk sales volume of 30 lakh litres/day in Delhi-NCR for last few days. "There has been some reduction in volumes of institutional sales due to the lockdown."Devendra Shah, Chairman, Parag Milk Foods, said, "Milk consumption has declined over the past month because of the closure of hotels, restaurants, and catering business".However, he hoped that sales would improve through online delivery platforms. "Over the past month,domestic consumption of ghee, butter, paneer and cheese has increased as entire family is at home. The consumption of pouch milk has decreased due to closure of hotels, restaurants, catering and tea stalls," Shah said. MJH SHW ANUANU

Dairy firms witness fall in milk demand due to lockdown

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Hollis JohnsonRay Dalio.</div></div></div>Parag Shah, a longtime executive at world's largest hedge fund Bridgewater Associates, who often served as the firm's spokesman, has stepped down, The <a href="https://www.wsj.com/articles/bridgewater-associates-executive-parag-shah-is-latest-to-leave-in-shake-up-1507724753">Wall Street Journal reported.</a>From the Journal:"He was part of the management team that interacted with some of the hedge fund's most important clients, which include public pension funds and other deep pools of money."Shah didn't immediately respond to an email seeking comment.Shah is the latest high-level employee set to leave. Earlier this year, Bridgewater announced a shakeup on the executive team which included promoting David McCormick to co-CEO, the fifth such CEO since the beginning of last year.Earlier this year, <a href="http://www.businessinsider.com/bridgewater-makes-trading-changes-2017-4">head of trading Jose Marques was scheduled to step down, Business Insider reported</a>. Jeff Wecker, a former senior manager, also <a href="http://www.businessinsider.com/bridgewater-makes-trading-changes-2017-4">recently left</a> and <a href="http://www.businessinsider.com/a-tech-veteran-has-joined-goldman-sachs-after-leaving-the-biggest-hedge-fund-in-the-world-2017-10">moved to Goldman Sachs</a>.Bridgewater manages about $160 billion in assets, and was founded by billionaire Ray Dalio.<a href="https://www.wsj.com/articles/bridgewater-associates-executive-parag-shah-is-latest-to-leave-in-shake-up-1507724753">Read the full report over at The Journal &gt;&gt;</a> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/head-of-investment-themes-ubs-on-global-trends-investors-should-know-2017-9">The head of investment themes at UBS explains the big trends every investor should know</a></h3> <div> </div> </div>

A longtime exec at Bridgewater, the world's largest hedge fund, is reportedly stepping down

<ul><li>As of 2:11 pm, NCP is leading in 55 seats and Congress is leading in 37. </li><li>Pawar has campaigned extensively braving weather and rains during the election. </li><li>He might have a say in the next government as BJP and Sena continue to squabble. </li></ul> It is not all over for Sharad Pawar and his party Nationalist Congress Party (NCP). The incumbent coalition between the Bharatiya Janata Party (BJP) and the Shiv Sena may have ignored this septuagenarian but Pawar seems set for a second innings for his party—even if it in the opposition. As of 2:11 pm, NCP is leading in 55 seats and Congress is leading in 37, which is much higher than that was predicted by exit polls. If the two together have over a 100 seats, they will be a significant opposition even if BJP-Sena win the election. Also read: <a href="https://www.businessinsider.in/politics/elections/news/bjps-parag-shah-the-richest-candidate-in-maharashtra-election-result/articleshow/71738932.cms">BJP’s Parag Shah, the richest candidate in Maharashtra, is leading with more than half the vote share in Ghatkopar East</a> Most polls said that BJP and Sena could finish with over 200 seats, but as of now, the leads are a bit short of that. BJP and Shiv Sena--the frenemies While BJP and allies are in a clear lead, cracks have started to appear in their already fragile bond. The state machinery of BJP which was riding high on the Lok Sabha mandate had all but done away with their five-year old partner. After multiple fights over seat sharing, both the parties decided to field candidates in sensitive areas like Konkan⁠— in regions like Ratnagiri and Raigad⁠— calling it a ‘friendly fight’. But the fight was anything but friendly. BJP openly defied Sena when they fielded Narayan Rane who has been the party’s arch rival for years, as their candidate to put their foot into the Sena strongholds. Now, if Sena continues its lead, they will have better bargaining power. They are not shy of saying it out even before the final tally, and have staked a 50% claim in government formation. Pawar’s proximity to Thackeray can waver angry Sainiks As this melee continues, Pawar may play a key role. Not only does he have enough seats to have a say in the next government, he was also a friend to Bal Thackeray, the Sena founder. There is an emotional connect as the late Thackeray has once refused to field a Sena candidate in a constituency where Pawar’s daughter Supriya Sule was making a debut. It is one of those rare friendships which stood the test of time and politics. Few have ever gained from ignoring an old man agile enough to campaign across the state in rains. He put up a brave front even as he is being investigated by the Enforcement Directorate and many of his party members quit right before elections. Pawar is one of those consummate politicians who has friends across the political spectrum including some high-profile ones in the BJP. So, the power of the opposition led by Pawar will depend on how much he decides to flex his muscle. See Also: <a href="https://www.businessinsider.in/politics/elections/news/maharashtra-state-elections-winner-and-leading-candidate-list-2019/articleshow/71739965.cms">Maharashtra State Elections winner and leading candidate list 201</a>9 <a href="https://www.businessinsider.in/politics/elections/news/haryana-state-assembly-election-2019-final-result/articleshow/71730556.cms">The final result of Haryana state election 2019</a> <a href="https://www.businessinsider.in/politics/elections/news/haryana-state-election-result-winner-list/articleshow/71738657.cms">Haryana State Election result and Winner list</a>

Sharad Pawar’s legwork at the age of 78 seems to have paid off

BJP winner candidate list for Maharashtra state elections

Maharashtra State Elections winner and leading candidate list 2019

<ul><li>Finance Minister <keyword id="129243" type="PERSON" weightage="20" keywordseo="Nirmala-Sitharaman">Nirmala Sitharaman</keyword> on Saturday announced <keyword id="8192304" type="UNKNOWN" weightage="20" keywordseo="union-budget-2020">Union Budget 2020</keyword> which gave an impetus to the country’s digital ecosystem.</li><li>The budget came up with an optional new tax regime which could lead to lower taxes for taxpayers.</li><li>She also acknowledged the role entrepreneurs have played in creating more jobs and capital for the country.</li></ul>As Finance Minister Nirmala Sitharaman presented the Union Budget on Saturday, the industry came together to applaud the government’s digital push with the announcement of the setting aside of Rs 6,000 crore for BharatNet, to ensure low cost internet reaches every household in the country. The government also announced an optional new tax slab which has lower tax rates, although the people opting for the new tax regime will not get any exemptions. The FM also spoke about the role that entrepreneurs have played in creating jobs and bringing in more capital to the country. However, there were a few industry experts who felt that the expectations from ‘the budget were much higher and it feels like a missed opportunity.’ Here are the views of some experts: Ashish Bhasin, CEO, APAC and Chairman, India - Dentsu Aegis Network: I think this is a good budget in some ways because it has attempted to put money in the hands of the middle class through rationalisation of tax rates as well as has concentrated on looking after the agricultural sector, including introduction of best practises like storage for producers and other measures. However, I do feel that the expectations from the budget were much more and it does feel like a bit of a missed opportunity. While it is good to see that the dividend distribution tax has been abolished, I expected more on the rationalisation of direct taxes, particularly the cess introduced over and above the tax rates. It is good to see efforts being made to encourage new-age skill development as well as helping the start-ups and what's particularly interesting is the proposal to set up data centre farms all over the country. This will prepare India for the economy of tomorrow. It is also good to see attempts at simplification of taxation through digitisation but the proof of the pudding will lie in seeing its implementation on ground. It would be fair to say that at best it is a mixed budget and while there are some encouraging decisions, enough does not seem to have been done for the situation the economy is in. RS Sodhi, Managing Director of the Gujarat Cooperative Milk Marketing Federation: <keyword id="7836802" type="UNKNOWN" weightage="20" keywordseo="Budget-2020">Budget 2020</keyword>, an excellent move, will bring more investments in the dairy sector which will increase the farmers’ bargaining power to get better prices for their produce, if done properly it will create 80 lakh jobs in Rural India and 16 lakh jobs in Urban India. Anand Bhadkamkar, CEO, Dentsu Aegis Network (DAN) India: The budget has provided relief to the middle class with lower tax rates which is a welcome move, as it will provide more liquidity. On direct taxes, the abolition of DDT and introduction of a tax dispute resolution scheme is a welcome step alongside tax reliefs for startups. The budget is focusing on easing and simplification of compliance, with changes in corporate laws as well as in GST and direct taxes. However, I was expecting further simplification of cess and surcharges beyond tax rates across slabs. The proposals for development of road infrastructure, setting up data centre parks and skill development initiatives are welcome steps in addition to allocations for social welfare schemes. However, the expectations from the budget were high on the background of current economic slowdown, and as such seems to be short on matching those expectations, with no specific industry sector focused sops to provide stimulus. While the budget shows focus on long term growth and social development, overall in the current scenario it looks like a mixed budget, falling a bit short of market expectations of more corrective measures. Mukesh Kalra, Founder &amp; CEO - ETMONEY: The Finance Minister's proposal to introduce a new tax regime is a great step towards giving equal chance to every Indian in the lower income segment to maximize their post tax incomes. In the old regime, an individual supporting a larger family &amp; negligible savings was forced to pay higher tax compared to an individual supporting a smaller family or one with no dependents. This created disparity when it came to effective taxation for the former group. In the new regime, the disparity ends &amp; also frees up income in the hands of individuals to give a boost to consumption. Nishant Pitti, Co-Founder &amp; CEO, EaseMyTrip: In tune with the present government vision to encourage Indian travellers to travel more and contribute towards the nation's growth, this budget takes it a step ahead. The budget has focused on promoting tourism &amp; travel with an overall budget of Rs. 2500 crores in year 2020-21. Government aims to develop 100 more domestic airports under the UDAN scheme. To promote travel via railways, the government will focus on more Tejas type trains that will connect tourist destinations in India. The Finance Minister has also laid stress on the development of archaeological sites into iconic sites with on-site museums. Five such sites are- Rakhigarhi, Hastinapur, Shivsagar, Dholavira and Adichanallur. Government has also announced the renovation of 4 key museums. Rs,150 crore have been allocated for the ministry of culture in 2020-21. We are hopeful that this budget will open new avenues for the travel industry. Sabyasachi Mitter, Founder and Managing Director of Fulcro: The key takeaway for me has been the simplification of tax regimes as well as giving a boost to consumer and investor sentiments. The removal of DDT is a significant move and long overdue as it effectively leads to double taxation. Simplification of personal Income Tax rates by giving the option to tax payers to avail the reduced tax rates by not availing deductions is a welcome step towards a future free from the historical legacy of compliance issues. The focus on encouraging start-ups is also welcome, both in terms of giving relief to the ESOP taxation which has been increased to 5 years. The turnover of availing 100% income Tax benefit has also seen two key changes; increasing the turnover threshold to 100 crores as well as increasing the block of years from which to avail three years of exemption to 10 years from the 7 years presently. All of these will increase the cash in hand of corporates, individuals as well MSMEs leading to a spur in demand. Specifically to the digital ecosystem the aggressive plans to increase the coverage of Fiber to Home being extended to 1 lakh gram panchayats will give a significant boost to the digital ecosystem. The recognition of the need for data and therefore the policy announcement on data centre parks is also a welcome move. Anish Sarkar, CEO, Sodexo BRS India: Sodexo always believes in giving our consumers the freedom of choice; the tax proposals in the budget are also on a similar philosophy. We believe that consumers should have a higher purchasing power – while this announcement will give them the power to choose their tax structure, our consumer base will continue to benefit from the current regime. Sodexo’s solution suite goes much beyond tax-saving products; driving the digitization of corporate cafeterias &amp; factories along with digitizing expense management to achieve workplace efficiency. We are very focussed on enhancing the employee experience of our clients by creating an ecosystem of value-added benefits much beyond tax savings. Devendra Shah, Chairman, Parag Milk Foods Ltd: We happily welcome the government's big push to the India's dairy industry. We are excited to be a part of the government's plan to double India’s milk processing capacity. Strategic measures like increasing the coverage of artificial insemination and eliminating Foot and Mouth Disease (FMD) and Brucellosis in cattle will result in higher yields. While such measures are welcomed, the dairy sector also needs to ensure the yearlong availability of green fodder. We can currently import the green fodder from Australia, Canada and USA. All these collectively help in Increasing milk consumption amongst urban and rural consumers thus attracting new investments and jobs. Navin Khemka, CEO, Mediacom South Asia: What is required is more purchasing power to the Indian middle class. This will help boost demand in the sluggish economy. I hope the investment in infrastructure and kisan express helps in achieving this objective in the long run. Short term, however, I think this budget is status quo. Demand growth could be sluggish and this could continue to impact media investments by corporates. Indroneel Dutt, CFO, Cleartrip: The government has backed its vision to turn India into one of the world’s top tourism hubs by allocating INR 2,500 crore for promoting tourism in general and setting aside a sum of INR 3100 crore for the Culture Ministry to boost regional tourism. What would be wonderful is to have an empowered nodal body comprising of the Govt / OTA / airline, hotel and other industry representatives with the objective of promoting discoverability, ease of booking and fulfilment of our cultural, natural and heritage sites. Introduction of more Tejas Express type trains and the inauguration of several culturally-significant archaeological sites are other much-needed moves. We also welcome the Hon’ble FM’s proposal to develop 100 more airports as well as the doubling of the airline fleet by 2024. This calls for skilled manpower development in parallel. The aim to double the fleet to 1200 in the next 3 years will certainly accelerate the passenger growth rate. Ramesh Kaushik, VP Brand Experience at Blackberrys: The government remains committed to accelerate consumption in budget 2020. Government measures of reducing corporate tax and initiatives to boost MSME sector will definitely help accelerate industrial and corporate growth in the country. Measures like simplifying GST and income tax relief are sure to give requisite push to consumer consumption and demand thereby accelerating growth across industries. Additionally allocation of funds for infrastructural development is a welcome move clearing path for expansion. We expect more measures/announcements specific to the retail industry from the government in the coming future that will give the right impetus to the industry. Sameer Makani, Co-Founder and Managing Director, Makani Creatives: Budget 2020 aims at the betterment of all sections of the society. The key highlight is certainly the tax regime where the government has proposed alternative tax policies and new rates to benefit the taxpayers. The vision to improve the start-up scenario in the country will help in creating more job opportunities and further ensuring the economic growth. The Skill development programme will enable overall personality development In comparison to budget 2019, MSMEs will experience a 71% rise over and above the budgetary allocation. Sudhanshu Agarwal, Founder &amp; Director, Citykart: The announcements made by the government in Union Budget 2020 are a promising move to boost the income and purchasing power of people. So far, the rollout of GST has resulted in gains of about Rs.1 lakh crores to consumers, which is likely to increase further with revised GST laws being implemented from April 2020. Simplification of GST norms will be significant in inspiring consumer demand &amp; consumptions and spur industrial growth. Additionally, allocation of Rs.100 lakh crores for infrastructure development also opens growth prospects for the brands in non-metro cities. However, we feel specific measures pertaining to the retail sector have still not been fully addressed in the budget. Kunal Lakhara, VP of Finance and Operations, Pocket Aces: Budget 2020's revised fiscal deficit target of 3.8% of the GDP seems more realistic and focus on spends/benefits was required to boost the economy. The thrust on entrepreneurship and tax regulations for both startups and taxpayers is a move in the right direction. India is the third largest startup hub globally and the announcement of an investment clearance cell to provide end-to-end support to startup founders will encourage more youth to be job creators. Further, the ability to defer taxes on ESOPs will democratise wealth creation for startup employees, ensuring the right talent is benefitted. Finally, the decision to grant 100% tax exemptions to sovereign wealth funds on their investment in priority sectors will provide the much needed funding boost to the sector and create value in the longer run. Sahil Vaidya, Co- Founder &amp; Director, The Minimalist: Following the announcement of the Union Budget 2020, one thing is certain, is that the Government is heavily focused on becoming an entrepreneurial superpower. By investing in the MSME sector, the Government’s support towards new companies will go a long way in producing high growth business. Furthermore, the tax waiver on ESOPs will enable more talent to place their bets on early stage disruptive start-ups, which have the potential to become the corporates of tomorrow. Among other sectors, the Budget 2020’s focus on start-ups and technology will be a boost to companies that are doing some cutting edge design thinking to enable the best of digital products for a booming digital economy. Sanil Jain, Co-founder, CupShup: The start-up ecosystem in India is not more than a decade old and has come a long way to become the third largest in the world after USA and China. 2019 was not what we can call a good economic growth year but this budget has definitely brought some relief to start-ups. The implementation of the Investment Advisory Cell will aid new start-ups. Deferring the Taxation on ESOPs is definitely a big win as it will go a long way in acquiring and retaining quality talent. While on the other hand, decreasing direct tax to a historic low of 22% will boost export opportunities and drive growth across various industries. Nikhil Mathur, Managing Director – India, GfK: The proposal to boost rural economy, infrastructure and enhance purchasing power of middle class, if implemented well would certainly be fruitful. It could further improve the consumption of consumer durable and electronics. As per GfK data, CE-MDA category registered a volume growth of ~9% in 2019/2018. I think the market is expected to grow in the back of technology companies and given the state of economy we can be hopeful of a better future. Besides, encouraging local manufacturing of mobile phones and semiconductors may fuel the ‘Make in India’ vision.

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