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EXCLUSIVE: What do Anupam Mittal, Aman Gupta, other Shark Tank India 3 judges think about interim Budget 2024?
The interim budget was presented by the Finance Minister last week. Let's hear the Sharks' of Shark Tank India 3's thoughts on the budget. Read on to get exclusive insights.
India’s Finance Minister Nirmala Sitharaman presented the interim budget last week. Ahead of the general elections later this year, the interim budget highlighted the government’s achievements over the past decade and focused on women and youth. In an exclusive conversation with Pinkvilla, Shar Tank India 3 judges who are successful entrepreneurs shared their takeaways from the interim union budget 2024.
On being asked about their thoughts on the budget presented last week, Shark Anupam Mittal shared a valid concern. He joked, “Shark Tank mein jitna bhi funding kiya humne, wo tax maaf. Wo nahi kiya unhone. Other than that, I think it was okay. (Whatever funding we did on Shark Tank should be tax-exempt. She didn’t do this.)”
Let’s move on and learn whether the budget benefits the start-up sectors and what Anupam Mittal, Vineeta Singh, Aman Gupta, and Ritesh Agarwal think.
Vineeta Singh’s takeaway from the interim budget 2024
Vineeta Singh, Co-founder & CEO of one of the leading cosmetics brands in India, SUGAR Cosmetics, shared that the interim budget was not too focused on start-ups. She said, “Is budget mein zyada start-up focus nahi raha because they were focused more on gareeb, women, and green welfare (This budget was not too focused on start-ups, but rather on the poor, women, and green welfare). I am hoping they will be more focused on start-ups in the full-fledged budget.”
Further, she added, “I think overall last 10 saal ka jo report card present kiya, economy kafi momentum mein hain toh sabse zyada fayda jab economy grow karta hain toh start-up ka hi hota hain (In the report card presented of the last 10 years, overall, the economy is in a significant momentum. The most significant benefit occurs when the economy grows, it directly impacts startups.) We are all beneficiaries of that.”
Watch the full interview of the Sharks here:
Aman Gupta’s thoughts on the interim budget 2024
Aman Gupta, founder of boAt, is one of the most popular sharks on Shark Tank India 3. Sharing his thoughts on the interim union budget, he said, “I think it was not made for… Jyase hota hain na elections ke pehle populist measures kar dete hain for vote (What usually happens is they bring populist budgets for the vote.) So, I’m very happy ayesa kuch nahi kiya that it’s a populist budget.
It was a normal budget, and it’s a very controlled one. I think the Government also knows that they don’t need to do populist measures for vote. That’s a good sign.”
Ritesh Agarwal has no complaints about the interim budget 2024
Ritesh Agarwal, the youngest and one of the newest Sharks on Shark Tank India 3, has two takeaways from the budget. Firstly, he is happy with the allocation of INR 1 Lakh Crore for research and development.
“Mujhe lagta hain ki is bar agar aap tank pe bhi dekhiye toh tech-related businesses, agar wo consumer-related businesses bhi hain toh uspe tech ka contribution or usage ho raha hain. Toh mujhe lagta hain wo long term R&D ke liye jo 1 crore allocate kiya hain wo bohot interesting hain (I believe that this time, even if you look at businesses in the tank, there is a significant contribution and usage of technology, especially in tech-related businesses and those related to consumers. So, I find the allocation of 1 crore for long-term R&D quite interesting),” shared the Shark.
Secondly, he talked about how this budget will benefit those in the tourism sector. He added, “Aur dusra dekhiye main tourism industry se hu aur isbar tourism ka zikr sabse zyada hain even though it’s an interim budget. But uske sath sath spiritual tourism, use bhi bohot dhyan diya gaya hain is budget mein (On the other hand, I am associated with the tourism industry, and this time, there is the most mention of tourism even though it's an interim budget. But along with that, spiritual tourism has also been given a lot of attention in this budget), so naturally, I have no complaints about being in this industry.”
Anupam Mittal on interim budget
As everyone shared their thoughts, Anupam Mittal weighed in his opinion. “I think other takeaways besides the 1 crore, firstly, it was on account budget, so you cannot expect too much out of it because it’s a midterm budget. But one thing is clear: our nominal growth rate in India is fast inching towards 10 percent, and when we grow 10-12 % every year…nominal is what matters; real doesn’t matter, it does, but for average, nominal is what matters,” shared the Shark.
He continued, “When you are growing 10-12%, and your average industry is 40% of the economy, that means every service business will grow 18-20% a year by just being present. Aur agar aap market share capture kar rahe ho, innovation kar rahe ho toh you can grow 25-30%. So, I think in the next few years, if this 10-12% growth is maintained, nothing can stop India from emerging as a developed nation in 2047…Viksit Bharat@2047.” Vineeta Singh also agreed.
Further, Mittal added, “So, wo goal hain, and some of the projects that have come online, for instance, Maharashtra’s trans-harbour link, or Delhi-Mumbai expressway, these showcase projects are very interesting milestones on our journey toward the developed nation and seeing them become real is quite amazing.”
Shark Tank India season 3 premiered on January 22, 2024. It streams on SonyLiv at 10 PM, Monday through Friday.
Stay tuned to Pinkvilla for more exclusive insights from the Sharks of Shark Tank India 3!
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