Axiscades Technologies Ltd. shares views on Budget 2022 for the ER&D sector

By Mr. Shashidhar SK, CFO, Axiscades Technologies Ltd.

The Union Budget 2022-23 is well-balanced and growth-oriented with an impetus towards growing India’s economy, especially with regards to the ER&D sector. We are thrilled to see the announcement of the PLI scheme for design-led manufacturing, this will help in providing the necessary boost to the Make in India products and solutions. The proposed increase of 35% in capital expenditure and infrastructure spend, will accelerate the economy. The budget strikes a good balance between the growth of Aatmanirbhar Bharat and establishing India’s mark on the global map. The government’s commitment to the R&D sector was further established by allocating 5 percent of universal service obligation. The continued emphasis on flagship PLI schemes and supporting the MSMEs are set to boost job creation in the economy and contribute to making India a global manufacturing hub. Overall, Budget 2022 sets a strong path for India to lead at the forefront of technology adoption and foster growth for a digital economy.