The economy is reeling under the aftereffects of the lockdown. After an estimated 7.7 percent contraction in 2020-21, the recent budget will provide the much-needed push to economic recovery reacted Mr.Himanshu Arya, Founder & CEO, Grapes Digital– a digital marketing agency after the Finance Minister announced the Union Budget 2021.
He added “As an overall package, the budget opens opportunities for the startup industry to sustain the business and add value to India’s economy. This also paves the way for green shoots of recovery; focusing on pushing the long-term growth potential that will see an increase in the GDP after a downtrodden experience thanks to the pandemic. The biggest relief is, the government has not tinkered with tax slabs such as Covid cess, wealth tax or any other tax expected by the market. 2021 is the budget year. The budget states that the government is keen on the digital revolution. The new schemes announced under PLI schemes will help the business, especially the manufacturing industry. This will strengthen the road map for the success of AatmaNirbhar Bharat. The economy is reeling under the aftereffects of the lockdown. After an estimated 7.7 percent contraction in 2020-21, the recent budget will provide the much-needed push to economic recovery.”
Mr. Himanshu further stated, “There is a cycle of a chain in the economy. We are quite optimistic that the year will see a significant jump in consumer spending, which will increase the cash flow in the market. If the economy will be on the brighter side, it will lead brands to increase their ad spends and will help our business to heads up towards double digital growth for 2021-22.”
