Ms Aditi Balbir, Co-founder, EcoRatings.
“The 2024 budget should prioritize sustainability in the infrastructure and energy sectors. Emphasizing sustainable agriculture and striving for net zero targets are also key focal points. We also expect measures including incentivizing sustainability in the retail sector, extending industry status recognition, and encouraging the adoption of Environmental, Social, and Governance (ESG) ratings across various sectors beyond securities and banks. To reinforce the link between sustainability and financial benefits, the budget should introduce substantial incentives, such as lower interest rates for ESG loans and grants for companies compliant with ESG standards. This approach will establish a direct correlation between sustainability efforts and financial advantages. Furthermore, the budget should also envision the mandatory adoption of comprehensive compliances, such as the Business Responsibility and Sustainability Report (BRSR), for all companies. Additionally, the introduction of product-level ratings to enhance transparency, providing clearer insights into ESG parameters.
In India, there are currently only three diversity-focused funds AWE, She Capital, and Arise—each facing the challenge of relatively small fund sizes. To effectively advance the agenda of women’s entrepreneurship, the upcoming budget must prioritize and allocate substantial resources to support their access to capital. Specifically, there is a pressing need for increased equity-based funding. The government should focus on allocating funds for risk capital rather than relying solely on loan-based strategies. Many female entrepreneurs often discover that they are ineligible for existing schemes, emphasizing the necessity for a more inclusive and accessible financial ecosystem. Therefore, the ask in the upcoming budget is pretty straightforward: the budget should allocate more capital to diversity-focused funds, acknowledging the pivotal role women entrepreneurs play in fostering a more equitable business landscape in India.”
Dr. Sat Kumar Tomar, Founder & CEO, Satyukt Analytics.
“As Budget 2024 approaches, Satyukt Analytics envisions a pivotal role for advanced technologies in reshaping India’s agricultural landscape. The government’s commendable decision to provide ISRO’s satellite data to the public holds vast potential for the agriculture sector. To fully harness this opportunity, we recommend prioritizing the automatic availability of satellite data for real-time integration into the agriculture delivery pipeline. Additionally, advocating for farm-scale credit assessments and crop insurance, promoting IoT and satellite-based technologies for efficient water usage, and encouraging precision agriculture advisories are vital steps. Policies incentivizing agri-tech startups to collaborate with institutions like KVKs and their involvement in awareness programs can further drive innovation. These initiatives align with Satyukt Analytics’ commitment to fostering sustainable growth in agriculture and financial sectors through cutting-edge decision analytics.”
