This year’s Union Budget is presumed to be promising as it focuses on addressing the health crisis which has been a point of concern in the global pandemic. The introduction of a new health scheme and allocating 35,000 Cr towards vaccination procedures will help the nation to get back on track rapidly. As expected, the government has extended the ECGL with an increased cover of Rs 50,000 for the Hospitality services by the small and medium sector. This will help the sector to bounce back, which in turn is a sign of good business for us. I am also glad to see that effective measures are being taken to reduce carbon footprints in the economy by issuing Sovereign Green Bonds in the public sector projects. Euronics strives to work towards this cause by means of our world-class products which help offices and facilities to reduce carbon footprints.” Mr. Viknesh Jain, CEO, and MD, Euronics
TAXES AND WAIVE OFFS –
“The Finance Ministry is likely to focus on sectors that were severely impacted by the second wave of the pandemic. These sectors include Travel and Hospitality, which are one of the prime areas of focus for Euronics. These sectors are looking forward to more relief in terms of lower taxes and incentives in the upcoming Union Budget. This would have a good impact on our business as it will make hygiene and sanitation extremely necessary to attract their customers and Euronics will be more than happy to step up with our wide variety of contactless and automatic accessories. Apart from this, it is also expected that the finance ministry would extend ECLGS (Emergency Credit Line Guarantee Scheme) along with other loan guarantee schemes for MSMEs as well as the Hospitality/Tourism sector. This might really help inflexible business across other sectors.”
