Budget 2019: Flipkart CEO Kalyan Krishnamurthy praises Nirmala Sitharaman's budget

Union Budget 2019: He also added that it is good to see the impetus given to start-ups, MSMEs and FPOs -- which form the backbone of the economy and also to Electric Vehicles.

By BusinessToday.In  
Friday, July 5, 2019

Kalyan Krishnamurthy, CEO of Flipkart Group, has praised Nirmala Sitharaman's first budget speech saying the government's Digital India boost was a welcome move. He also praised the government's announcements regarding sops to MSMEs and the move to make Electric Vehicles less costly.

"It is good to see the government renew its commitment to boost 'Digital India' in the budget presented by FM Nirmala Sitharaman. The Government's vision on bridging the rural-urban divide with internet penetration will be pivotal in transforming India into a $5 trillion economy," said Karishnamurthy.

He also added that it is good to see the impetus given to start-ups, MSMEs and FPOs -- which form the backbone of the economy and also to Electric Vehicles. "Further, by setting up a National Research Foundation, addressing challenges faced by start-ups, and committing to transforming the education system, the budget is set to boost innovation in the country. Innovation will form the bedrock of the digital economy in India," he said.

Krishnamurthy said, "The proposal to invest Rs 100 lakh crore in infrastructure bodes well for job creation and boosting demand, manufacturing and consumer income. As the Prime Minister Modi led government continues to push for Ease of Doing Business for MSMEs and industries, we at Flipkart Marketplace will be happy to continue connecting millions of MSME sellers, manufacturers and artisans with consumers efficiently & in cost effective manner."

In her speech FM Sitharaman said that Digital India was a key factor in India's aim to become a $3 trillion economy this year and a $5 trillion economy by 2025. She added that it took 55 years for the Indian economy to reach $1 trillion mark. "It took over 55 years for the Indian economy to reach 1 trillion dollar but when the country and her people's hearts are filled with aasha, vishwas and aakansha that is, when hearts are filled with hope, trust and aspirations, we, in 5 years, added $1 trillion. Today we are nearing a $3 trillion level. So when we aspire to reach a $5 trillion level, many wonder if it is possible. If we can appreciate our citizens' "purusharth" or their "goals of human pursuit" filled with their inherent desire to progress led by the dedicated leadership present in this House, the target is eminently achievable."

Also read: Budget 2019: Tax returns filing mandatory if you spend over Rs 2 lakh on foreign travel

Also read: Budget 2019: Filing income tax returns to be made easier with pre-filled forms

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