Mumbai, Feb 1 (PTI) Following are some reactions from corporate leaders on the Budget for 2022-23:

Tapan Singhel, MD & CEO, Bajaj Allianz General Insurance: The budget is growth-oriented with government focusing on infrastructure creation, clean energy, education, healthcare and promoting local manufacturing, with a firm eye on sustainability. To aid infrastructure development, insurers will be able to provide surety bonds to reduce indirect cost for suppliers and contractors thereby diversifying their options and acting as a substitute for bank guarantee which will cut initial project cost.

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George Alexander Muthoot, MD, Muthoot Finance: The budget has laid clear emphasis on prioritising growth by focus on capital spending that will generate growth and jobs. The measures for MSMEs and thrust on digital banking will go a long way in supporting the economy as MSMEs have been the most impacted during the pandemic.

Sunil Duggal, Group CEO, Vedanta: The budget will have a multiplier effect on the economy as it will create not only assets but also large-scale employment opportunities and lead to higher demand for manufactured goods by both large industries and MSMEs. Rajesh Jejurikar, ED, Mahindra & Mahindra: The roadmap laid out for sustainable mobility will bolster the EV adoption. Battery swapping can offer a practical alternative to increase EV adoption.

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Kulmeet Bawa, President & MD, SAP India: The budget addresses the two biggest needs of the hour: inclusive digital development and climate action, which will help drive the country towards a self-reliant future, by prioritizing positive economic growth and an optimistic outlook towards sustainability.

Gyanesh Chaudhary, Vice Chairman & Managing Director, Vikram Solar: The thrust in the budget on energy transition and climate action will bring transformational changes and accelerate the country's green energy growth. The additional PLI allocation for manufacturing high-efficiency solar modules for the existing wait-listed PLI bidders will strengthen domestic solar manufacturing ecosystem, thereby reducing import dependence.

Kalyan Krishnamurthy, CEO, Flipkart Group: The budget is inclusive, growth-oriented and balanced with a clear focus on strengthening physical and digital infrastructure, boosting the startup ecosystem and providing a strong digital push.

Rakesh Sharma, MD & CEO, IDBI Bank: Extension of the ECLGS till March 2023, and expansion in the guarantee cover of CGTMSE, will be a boon for MSMEs, which have been primary beneficiaries under the scheme.

Zarin Daruwala, CEO, Standard Chartered Bank India & South Asia: This is a growth-oriented budget, with a focus on using available fiscal space, via higher tax buoyancy, towards additional spending. The focus on capex, the highest in more than 15 years, will have a high multiplier impact and that the elevated government spending will spur private investments.

Sunil Mathur, MD & CEO, Siemens India: The increased capex of Rs 7.50 lakh crore further demonstrates the government intent to create the necessary impetus for the economy. Stability in tax policy is also a welcome step.

Umesh Revankar, VC & MD, Shriram Transport Finance: This is an investment-led budget and will propel key sectors like cement, steel and construction which will lead to increased movement of goods, boost bulk transport and help revive the transport industry.

Vishal Kampani- Non-executive VC, JM Financial: "The budget has set a great example of continuity of reforms by focusing on increasing capex for infrastructure development, boosting domestic manufacturing and enhancing digitisation.

Jaspal Bindra, Executive chairman, Centrum Group: The budget has maintained a fine balance between boosting job creation, supporting startups, sunrise and core industries, MSMEs and rural development along with a thrust towards greater financial inclusion and digitization. Both direct and indirect tax collections continue to be robust, justifying the unchanged tax rates.

Dinesh Patidar, Chairman, Shakti Pumps: The budget reaffirms government commitment to achieve the solar energy goals. The increased outlay towards the PLI scheme will boost investments and towards manufacturing.

Gopichand Hinduja, Co-chairman, Hinduja Group: This is a forward looking budget which will help make the country future-ready. The budget has made a serious attempt to lay an economic blueprint for the next 25 years.

Sanjay Dutt, MD & CEO, Tata Realty & Infrastructure: The budget is well-balanced, growth-oriented and capex driven and offers consistency, continuity and stability. The move to replace the Special Economic Zones Act with new legislation that will enable states to become partners in development of enterprise and service hubs will ensure domestic companies utilise the SEZ infrastructure.

Kamal Khetan, Chairman & MD, Sunteck Realty: The budget is a capex-oriented budget, covering all major macro-economic growth engines, that includes infrastructure, housing and MSME sectors.

Venkatram Mamillapalle, CEO & MD, Renault India: The budget seeks to focus on seamless growth for the auto and auto ancillary industry. Continued focus to provide impetus to build domestic capacities and push the agenda of vocal for local. The plan on battery swapping policy with inter-operability and push for clean tech and electric vehicles will create the right ambient environment for EV introduction and overall harmonisation of the electric mobility.

Tarun Chugh, MD& CEO, Bajaj Allianz Life: The budget has two positive highlights--infrastructure push and systematically prioritising digitization ecosystem—which will go a long way in achieving sustained long-term growth. The move on NPS is timely as we need to continuously emphasise on the need to invest towards post-retirement needs and this will only enable many more people realise the benefits of saving towards their retirement needs.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)