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New Delhi, May 16 () The government's announcements for civil aviation sector breathe some life into the coronavirus pandemic-hit sector and will provide overall positive sentiment, experts said on Saturday, even as some of them emphasised the need for support for airlines. On Saturday, Finance Minister Nirmala Sitharaman announced plans for managing airspace efficiently, making the country a MRO (Maintenance Repair and Overhaul) hub, and auctioning of six more airports on PPP model. GMR Group Chairman G M Rao said India is leading the growth of civil aviation sector globally and is generating significant economic impact. According to him, rationalising Indian airspace is a significant step that would benefit not only the entire sector but also bring down travel time for passengers. Privatising six new airports under public-private partnership (PPP) model would generate significant economic effect and would lead to creation of new jobs. "Likewise, tax incentives for the MRO sector will not only bring foreign investment into India and impact the economics of the airlines but will also open up new opportunities for youth to build careers. The investments being made in airports, privatised in the first two phases, are already leading to enhanced job creation in both aero and non-aero areas," he said. GMR Group manages two airports -- Delhi and Hyderabad -- through PPP model. Welcoming the announcements, GVK Group founder and Chairman G V K Reddy said the move to have PPP model for six more airports would provide the Airports Authority of India (AAI) resources to develop smaller airports across the country. "The plans to make India a global MRO hub will ensure savings of precious foreign exchange and enable Indian airlines to get their aircraft serviced locally," he said. GVK Group manages Mumbai airport through PPP model. Consultancy EY India's Transaction Partner Kuljit Singh said the announcements are good initial first steps and this might be followed by a second phase of reforms package. "... the second phase may need to have more reforms in taxes on fuel, subvention for airport charges, government guarantees for additional unsecured borrowings of private airlines etc," he noted. Law firm Cyril Amarchand Mangaldas' Partner Ajay Sawhney said that today's announcement breathe some life into the pandemic-hit civil aviation sector, but no mention of bailouts on an immediate basis may attract mixed response from the industry. "Though, easing curbs on airspace would certainly bring in long term efficiency, and on an immediate basis some relief to the airlines, but a more meaningful intervention may be required if the aviation sector is not on the recovery path soon," he noted. Travel portal EaseMyTrip.com Chairman and CEO Nishant Pitti said the announcements would definitely provide positive sentiments for the industry overall. "In addition for industry to withstand the recovery period, government will need to support the backbone, airlines, in these turbulent times through tax relief or relaxation in multiple charges paid by airlines to reduce their costs," Pitti said. Vasudevan S, Partner (Infrastructure Government and Healthcare) at consultancy KPMG in India said the aviation sector is the hardest hit because of the global pandemic with an estimated USD 500 billion loss in airline and airport revenues in FY20. Airport PPP transactions will help unlock value for AAI and state governments, given current investor interest and long-term potential of the Indian market. "Rationalising the MRO tax structure has been a long pending demand of the industry and it is good to see that happening finally, but more needs to be done to create a level playing field, attract foreign investment and make it profitable," he noted. Care Ratings Chief Economist Madan Sabnavis said aviation sector has incentives as six airports would have PPP model, but the "question is who will invest now when future of airlines is uncertain". Consultancy Deloitte India Partner Peeyush Naidu said the initiative for private sector participation for operations, management and development of airports is well-intentioned. IAS GDK RAM RVK

Govt measures will provide positive sentiment for civil aviation sector: Experts

<ul><li>The company had seen its IPO being oversubscribed by 159.33 times the offer value.</li><li><keyword id="5030468" type="UNKNOWN" weightage="20" keywordseo="EaseMyTrip">EaseMyTrip</keyword>’s IPO comes at a time when the fears of another lockdown are surging in the country, which could potentially affect travel.</li><li>However, ahead of its IPO, EaseMyTrip seemed optimistic about the travel industry.</li></ul>Easy Trip Planners Ltd, the parent company of online travel aggregator platform EaseMyTrip, which made its debut in the stock market today, saw its share price list at ₹212.25 at 9.50 am, 13.5% higher than the IPO issued price of ₹186-187 per share. However, within minutes of trading the share price fell to ₹204 at 10.13 am. Since its listing, the company’s market value rose to ₹2,305 crore. In the grey market, the shares of the company were trading at ₹160-165, as per <a href="https://www.livemint.com/market/ipo/easy-trip-planners-ipo-grey-market-premium-listing-gains-allocation-dates-in-10-points-11615094894205.html">reports.</a> However, the grey market is not an official measure of the market premium. The company had seen its IPO being oversubscribed by 159.33 times the offer value, with its QIB portion being subscribed 78 times, HNI 384.26 times and retail 70.78 times. EaseMyTrip’s IPO comes at a time when the fears of another lockdown are surging in the country, which could potentially affect travel. With the rising number of COVID-19 cases, several states have issued advisory while many cities are now subject to lockdowns or night curfews. However, ahead of its IPO, EaseMyTrip seemed optimistic about the travel industry. “In our third quarter of 2020, we have already recovered 70% of where we were during the same period last year,” Prashant Pitti, director at Easy Trip Planners (the parent company of EMT) told Business Insider in an interview. The company is an exception among a large pool of internet companies, which have tried to get listed – EaseMyTrip has bootstrapped its way to the public markets. Founded in 2008, the company is India’s second largest travel aggregator. EMT claims to have achieved profitability and calls itself “the only profitable company among key OTAs (online travel aggregators) in India”. According to a CRISIL report, as of FY20, EMT had a market share of 5% in India. However, the company believes that it would have gained market share in the last year. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/delhi-high-court-brings-up-civil-prison-for-violation-directs-future-group-to-recall-approvals-granted-to-future-retail-reliance-deal/articleshow/81570521.cms">Kishore Biyani vs Amazon – Delhi High Court brings up ‘civil prison’ for violation by Future Group, asks for recall of approvals granted to Future Retail-Reliance deal</a> <a href="https://www.businessinsider.in/business/corporates/news/accenture-announces-one-time-bonus-for-all-employees-as-the-tech-giant-sees-robust-revenue-growth/articleshow/81572548.cms">Accenture announces one-time bonus for all employees as the tech giant sees robust revenue growth</a>

EaseMyTrip lists at 13.5% premium – but gives up some of the listing gains soon after

<div class="KonaFilter image-container display-table"><div><div class="image"></div></div></div><ul class="summary-list"><li>Airbnb is letting guests meet animal celebrities after extending its housing options in 2016 to include tourism experiences with locals.</li><li>For an extra $50 to $150, Airbnb's new Animal Experiences program lets guests go on adventures with one of Instagram's most famous cats, a pack of nine rescue dogs, heroic cows Brianna and Winter, and other animals of Internet stardom.</li><li>Guests might recognize some of these animals from <keyword id="6354777" type="COMPANY" weightage="100" keywordseo="Media">media</keyword> brand The Dodo, which is picking 50 of these experiences for Airbnb. </li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories</a>.</li></ul>With 4.2 million followers, Nala is described as one of the most Instagram-famous cats, and now, Airbnb guests can meet her along with other online animal sensations.Airbnb launched its Experiences in 2016 as a way for guests to explore new places with locals, and it just expanded those options to animals.The Animal Experiences option includes over 1,000 trips with more than 300 species. People hosting these experiences have to comply with Airbnb's <a href="https://www.airbnb.com/help/article/2578/what-are-the-animal-welfare-guidelines-for-airbnb-experiences">animal welfare policy</a>, head of Animal Experiences Mikel Freemon told Business Insider.Airbnb worked with The Dodo, a Group Nine Media brand that tells stories about animals and has shown dedication to animal welfare, to design 50 of the experiences.<h2>'It's like meeting a celebrity': The Dodo teams up with the stars of their viral videos to curate Animal Experiences</h2>The Dodo helped Airbnb put together activities that are enjoyable for guests and humane for the animals, Dodo president YuJung Kim said. It wasn't easy, though, since cats tend to be indoor creatures. In the case of Nala, her owner came up with the idea of having guests <a href="https://www.airbnb.com/experiences/1193231?af=&amp;c=.pi0.pk77815316334_386522854459_c_824261762858&amp;sem_position=1t1&amp;sem_target=kwd-824261762858&amp;location_of_interest=&amp;location_physical=9067609&amp;gclid=EAIaIQobChMIsLSE-oW_5QIVFIiGCh02iAvNEAAYASAAEgJ59fD_BwE">visit Nala's kitchen</a>, the California factory where her cat food line called Love, Nala is made. Guests can meet Nala, watch her sample her pet food, get selfies of her and take home gift bags for their own cats. Penni Dog, the pitbull who stars in The Dodo series "<a href="https://www.thedodo.com/series/pittie-nation">Pittie Nation</a>" and has over <a href="https://www.instagram.com/pennidog/">47,000 followers</a> on Instagram, presented the opposite problem: A former rescue dog, she prefers outdoor activities like rock climbing and ziplining, so the solution was to offer Airbnb guests a <a href="https://www.airbnb.com/experiences/1179227?af=&amp;c=.pi0.pk78554493549_386778049579_c_828116310692&amp;sem_position=1t1&amp;sem_target=kwd-828116310692&amp;location_of_interest=&amp;location_physical=9067609&amp;gclid=EAIaIQobChMIoMKij5m_5QIVA-iGCh3U3AXfEAAYASAAEgJdXfD_BwE">hike to one of her favorite hot springs</a> in Nevada."When her human dad adopted her she was very scared," Kim said. "She had been through a lot and was generally very introverted and very skittish, so as a way of making her feel more confident they started going on hikes together."Other Dodo-designed Animal Experiences for Airbnb are a <a href="https://www.airbnb.com/experiences/1179131">picnic</a> with pig and dog duo Pickles and Dill who have <a href="https://www.instagram.com/livingwithpickles/?hl=en">100,000 Instagram followers</a>; a <a href="https://www.airbnb.com/experiences/1188602?source=p2">safari</a> with cow Brianna who once survived a fall from a transport truck while pregnant; and a <a href="https://www.airbnb.com/experiences/1185868?source=p2">day filled with nine rescue dogs</a> inspired by The Dodo series "<a href="https://www.thedodo.com/series/ruff-life-with-lee-asher">Ruff Life with Lee Asher</a>."The animal experiences cost guests an extra $50 to $150 per person. The companies share revenue from the trips.<a href="https://www.businessinsider.com/intelligence/stories-slide-deck?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_leadgen&amp;itm_content=instagram&amp;itm_campaign=stories-slide-deck"></a>

Airbnb is letting people book trips with Instagram-famous pets like Pickles the Pig, Nala Cat, and Penni Dog

<ul class="summary-list"><li><keyword id="9393435" type="UNKNOWN" weightage="60" keywordseo="claire-saffitz">Claire Saffitz</keyword>, a contributing editor and YouTube personality at Bon Appétit, is the lastest person to speak out against a <keyword id="24504" type="ORGANIZATION" weightage="100" keywordseo="culture">culture</keyword> that employees of color have called "toxic."</li><li>In an Instagram post, she said she was aware of some of the "racist, secret, and ultra-competitive" behavior in the workplace, but she'd "missed" critical instances of discrimination.</li><li>The pastry chef said she planned to "do the work of repair" to earn her colleagues' respect as an ally.</li><li>Saffitz's note follows a turbulent week for Condé Nast and Bon Appétit, as multiple employees have made — or been subjects of — accusations of discrimination. </li></ul>Following a flurry of accusations of discrimination at Condé Nast's elite <keyword id="6181" type="COMPANY" weightage="60" keywordseo="Food">food</keyword> publication Bon Appétit, another high-profile personality associated with the brand is condemning the company's behavior. Contributing editor Claire Saffitz, a pastry chef who has developed an enthusiastic fandom after starring in several of Bon Appétit's YouTube series, is the latest food personality to speak out against the culture that former and current employees have called "toxic" and riddled with microaggressions. In an Instagram <a href="https://www.instagram.com/p/CBTz1adjppL/?igshid=i94ex58mpekt">post</a> on Thursday, the "Gourmet Makes" host wrote that she had spent the past few days "searching for words" to address the ongoing controversy surrounding the publication. Ultimately, she said, she rejected the advice she'd been given about how to handle the situation in order to avoid re-sharing the "trite and hollow" promises about "listening" and "doing better."Statements of solidarity, she continued, "don't matter without sustained and meaningful action.""The point of this post is not to perform an apology or save face, it's not about view counts or likes," she wrote. "It's about complicity and accountability."As an employee, she revealed, she was aware of some of the "toxic, racist, secret, and ultra-competitive" environment at Bon Appétit, but she also "missed a lot.""I should have seen it earlier and used my platform and clout to push back against leadership," she wrote, acknowledging that her privilege — racial, educational, and economic — helped her "enter and succeed in a toxic system."She went on to address some of the specific accusations made by her colleagues, Sohla El-Waylly and Christina Chaey, who wrote in recent Instagram stories that they were not compensated for their video work. Saffitz said that as a freelance video host, she "exempted [herself] from action," failing to inquire further about her colleagues' compensation when inviting them to appear in her Gourmet Makes videos."I valued the talent and skill of the crew behind the scenes as well, but didn't act to make their work more recognized," she said of her behavior. Ultimately, Saffitz said, she felt "deeply sh---y" about the situation, but pledged to put her feelings aside to "do the work of repair.""I only hope that through sustained learning/unlearning/relearning I can better show up for people who I deeply respect, and eventually earn their respect as an ally," she concluded. The post appeared to resonate with Saffitz's fans and colleagues alike. "I see you and see the hard work you're engaging in offline," Chaey commented on the post, adding two heart emojis. "Appreciate you not using this as a chance for everyone to pitty you or use 'white tears,'" one commenter wrote. "Hopeful that good changes are coming."<h2>Saffitz's post follows a tumultuous week for Bon Appétit in which high-profile leaders at the publication have been accused of discriminatory behavior and employees have called the outlet's work environment "toxic" for people of color. </h2>On Monday, a photo of <keyword id="1173135" type="PERSON" weightage="60" keywordseo="Bon-Appetit">Bon Appetit</keyword> editor-in-chief Adam Rapoport's offensive Halloween costume from 2004 surfaced online, sparking outrage and beginning a larger conversation about the publication's alleged history of inequality. Rapoport resigned later that evening.Later in the week, problematic social media posts from other employees at the publication began circulating online. Alex Delany, the drinks editor at Bon Appétit, stirred up controversy when a Twitter user unearthed a 2010 photo from his Tumblr account featuring a <a href="https://www.insider.com/confederate-flag-cake-bon-appetit-editor-resurfaces-2020-6">Confederate-flag cake</a>. The same day, Eater staff writer Elazar Sontag unearthed a 2013 Vine Video in which Delany used a <a href="https://www.insider.com/bon-appetit-alex-delany-vine-slur-andy-baraghani-antoni-porowski-2020-6">homophobic slur</a>. Meanwhile, another Twitter shared old tweets from Condé Nast executive Matt Duckor that contained <a href="https://www.insider.com/bon-appetit-matt-duckor-offensive-tweets-conde-nast-reckoning-continues-2020-6">homophobic and racist jokes</a>. Both Delany and Duckor apologized for the offensive content — and Duckor left the company, according to an email from Condé Nast Entertainment's president, Oren Katzeff, <a href="https://www.businessinsider.com/conde-nast-matt-duckor-leaves-company-backlash-diversity-2020-6">obtained</a> by Business Insider.Meanwhile, 14 former and current employees of the company <a href="https://www.businessinsider.com/bon-appetit-adam-rapoport-toxic-racism-culture-2020-6">told Business Insider's Rachel Premack</a> that they felt personally and professionally "slighted" while at the company, receiving contracts that were inferior to their white colleagues' and being excluded from "professional and social groups."On Thursday, Bon Appétit issued a <a href="https://www.bonappetit.com/story/where-we-go-from-here">statement</a> about the outlet's plans to "take ownership" of its mistakes and change its culture, centering nonwhite narratives and content and rebuilding trust among staff and freelancers. "This is just the start," the statement read. "We want to be transparent, accountable, and active as we begin to dismantle racism at our brands."Read more:<a href="https://www.businessinsider.com/bon-appetit-adam-rapoport-toxic-racism-culture-2020-6">Bon Appétit's editor in chief just resigned — but staffers of color say there's a 'toxic' culture of microaggressions and exclusion that runs far deeper than one man</a><a href="https://www.insider.com/bon-appetit-christina-chaey-speaks-out-about-alleged-pay-inequity-2020-6">Bon Appétit editor Christina Chaey says she was not paid 'a single dollar' for her Test Kitchen video appearances</a><a href="https://www.insider.com/bon-apptit-timeline-allegations-drama-culture-race-andy-alex-sohla-2020-6">Bon Appétit's week from hell: How a deluge of allegations depicting a 'toxic' work culture left the magazine in chaos</a>

Bon Appétit star Claire Saffitz says she was 'aware of the toxic, racist' culture at the publication

<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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Govt measures will provide positive sentiment for civil aviation sector: Experts

PTI

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Industry experts share their optimism about Budget 2020

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