The Union Budget 2015-16 is more like a vision document and focused on job-creators, according to Safir Adeni, President of The Indus Entrepreneurs (TiE), Hyderabad.

He was speaking at a Budget Talk organised by BusinessLine in association with ICBM-School of Business Excellence at the Federation of Telangana and Andhra Pradesh Chambers of Commerce and Industry here on Tuesday.

“This is very important as job-creators not only create job for themselves but also for others,” he said adding that there were many opportunities for start-ups in areas such as Internet of Things (IoT) and e-commerce.

The Budget, however, was not encouraging to the start-up community as there was very little incentives mentioned, Adeni added.

Increase in service tax will adversely impact corporates, particularly start-ups, technology firms and e-commerce firms.

Agreeing that the Budget was more like a policy statement, MM Sreeram, Managing Director, Scarlet Industries Pvt Ltd, said global investors are keen on investing in the manufacturing sector in India.

“There is big opportunity in the manufacturing sector in food-processing, automobile, defence, aerospace and consumer products, among others and everyone should take advantage of it,” he said. The challenges, however, are skill gaps, lack of supply chain mechanism, infrastructure and credit.

Issues such as broader policy framework, a suitable ecosystem to do business should be put in place to achieve the dream of ’Make in India’, he added.

Terming the Budget as ‘progressive, futuristic and dynamic’, economist B Yerram Raju said it will help bring foreign direct investment to India.

The focus on infrastructure, improving public private partnerships and other allocations were pragmatic. It also makes an intent at providing housing, health and education to all. The farm sector remained largely neglected while the PPP projects were leading to scams, he felt.

Referring to growth dynamics of the Indian economy, Raju said it was also important to revive growth in manufacturing and agricultural sectors moving away from excessive dependence on the services sector.

S Zarar, Principal, ICBM School of Business Excellence, said the Budget will take the Indian economy and people forward. “The young population and budding managers should focus on the digital opportunity,” he added.

M Somasekhar, Chief of Bureau, BusinessLine , Hyderabad, said the Budget evoked huge interest and generated hype in the run up to the presentation . B-School students have big opportunities awaiting them to seize management roles in the manufacturing sectors.

P Ranga Reddy, Regional General Manager, The Hindu , gave away mementoes to the speakers. Students from seven B-Schools also participated in the event, which saw a lively interactive session with students posing several questions to the panel.

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