Budget
Budget ’17 initiatives will drive overall demand, believe startups
MUMBAI: Startups are in a celebratory mode after the presentation of the Union Budget 2017 by the finance minister Arun Jaitley. He announced that small businesses with an annual turnover of Rs 50 crore will now have to pay five per cent less income tax, in order to make micro, small and medium enterprises (MSMEs) more viable.
This brings down their income tax level to 25 per cent. The profit linked deduction available to the start-ups has changed to three years out of seven years.
For the purpose of carrying forward of losses in start-ups, the condition of continuous holding of 51 per cent of voting rights has been relaxed. However, this is subject to the condition that the holding of the original promoter/promoters continues.
On the issue of removal of Minimum Alternate Tax (MAT), the FM opined that it is not practical to remove or reduce MAT at present though, he has proposed to allow carry forward of MAT up to a period of 15 years instead of 10 years at present.
The government also plans to spend Rs 2.44 lakh crore for small business loans.
Media Konnect founder and CEO Ranjit Thakur said, “After being overlooked for almost two years, the media & entertainment industry has finally come to the fore in this Union Budget. Post-demonetisation, the budget focuses on paving the way for entrants and helping in sustainability of businesses. An industry that is audience-led, with the GST finally getting implemented this April, ticket prices will go down by 15-20 per cent which in turn will increase the demand and consumption by the audience.”
“The abolishing of the Foreign Investment Promotion Board (FIPB),” he said, “will allow a smooth foreign investment in this sector. On an optimistic note, a quick action team initiated by the Finance Minister is going to help curb film piracy that plagued the industry until now. Overall, with the roll out of the GST, access to digital media and a strong action against film piracy – brings a lot of promise for the M&E Industry.”
Venture Catalysts co-founder Dr. Apoorv Ranjan Sharma asserted, “Union Budget 2017-2018 is a progressive economy budget. The government has introduced the right policies, from reducing fiscal deficit gap to cleaner GDP growth, whilst promoting digitalisation and growth of the rural sector. For the startup economy, there is a significant relief in deductions within profit available for seven years from the existing five years. Furthermore, the deduction in corporate tax is a great boost for the companies with turnover of Rs 50 crore or less. Besides, SMEs with turnover up to Rs 2 crore, will enjoy tax relaxation from eight per cent to six per cent now. The move is going to waive the financial burden, while propelling small merchants on their path to success.”
Mobclixs Technologies founder and CEO Dushyant Jani added, “Finally, the anticipation has come to an end with the unfolding of the Union Budget 2017-18 and we welcome the finance minister’s decisions on the various policies and tax saving schemes. The decision on the allocation of Rs. 10,000 crore for the Bharat Net project will provide high-speed broadband will definitely change the game for VAS businesses in the future. With increased number of people accessing the internet, the number of VAS users will also increase. Infrastructure development in terms of highways, shipping, and airways will help in public transportation.”
He added, “Further, the newly announced income tax slab of 25 per cent, for the income bracket of Rs. 50 crore for start-ups, will help entrepreneurs in the efficient allocation of funds. However, the detailed announcement on the GST bill is still on the cards, and companies now are eagerly awaiting the same. We hope that the new policy formations in the budget are put into action effectively, in the same way as their presentation.”
Tpot founder Robin Jha said, “Considering the current market scenario post-demonetisation in the last two months, it was important for government to introduce initiatives which would have a ripple effect on the overall demand in the economy. The increased spending by government on infrastructure and reduction in tax for salaried class is a step in that direction. Further the tax break for start ups and benefits for labor intensive industries would also spur the demand.”
MUMBAI: Anuj Singhal, managing editor at CNBC- AWAAZ and CNBC BAJAR, operates at the sharp end of India’s business news ecosystem. With over two decades in business journalism, he has earned credibility for decoding policy, markets and macro trends for millions of Hindi-speaking investors. Equal parts newsroom leader and market analyst, he shapes editorial direction while anchoring flagship shows that break down the economy, politics and corporate India in real time.
Known for cutting through jargon and hype, Singhal blends data, discipline and clarity — a mix that has made him one of the most trusted voices in Hindi business news.
In this interaction, he discusses the Union Budget, trade deals, newsroom strategy and what truly moves markets and ratings.
• What was the single most market-moving announcement in this Budget, and why?
The most market-moving element was the clear commitment to fiscal consolidation without compromising capex. The glide path on fiscal deficit reassured bond markets and foreign investors, while sustained public investment kept growth expectations intact. That balance removed a big overhang for both equities and debt.
• Do you see this Budget as growth-oriented, fiscally cautious, or politically calibrated?
This Budget is growth-led but fiscally disciplined. It avoids overt populism, stays within macro guardrails, and prioritises medium-term competitiveness over short-term optics. Politically, it is restrained; economically, it is deliberate. The message is clear: stability over spectacle.
• How is CNBC-AWAAZ programming different, especially in decoding trade deal impact?
CNBC-AWAAZ goes beyond headline reaction. We translate policy into portfolio impact — sector by sector, stock by stock.
On trade agreements, our focus is on:
-Earnings visibility
-Export competitiveness
-Currency implications
-Margin sustainability
We don’t treat trade deals as political milestones. We decode them as profit-and-loss events for corporate India and map them to FY earnings trajectories.
• Which sectors look like clear winners and laggards over the next 12–18 months?
The next 12–18 months favour sectors aligned with structural spending and supply-side strengthening.
– Clear beneficiaries:
Capital goods and infrastructure
Manufacturing linked to export chains and PLI ecosystems
Power, defence, and logistics
– Relative laggards:
Consumption segments dependent on immediate demand revival
Businesses facing margin pressure from global volatility or pricing power erosion
This is not a momentum-driven market environment. It is execution-driven. Balance-sheet strength and order visibility will matter more than narrative.
• One headline to sum up this Budget 2026 for India Inc?
“Steady Hands, Long-Term Vision: A Budget That Rewards Discipline Over Drama”.
• What editorial filters do you apply before calling something ‘market-positive’ or ‘negative’?
We apply three structured filters:
– First: Earnings translation — does this materially change earnings visibility or cash flow outlook?
– Second: Time horizon — is the impact immediate, cyclical, or structural?
– Third: Valuation context — good news priced in or not.
If a policy doesn’t move earnings or risk perception, we don’t oversell it.
• How has business news consumption changed around big policy events?**
There has been a clear behavioural shift. They’re less interested in what was said, more in what it means for their money. There’s also a clear shift toward second-screen consumption, with digital platforms complementing live TV. The audience seeks sharper accountability. Viewers no longer accept broad optimism or pessimism — they want frameworks, numbers, and sector mapping.
• CNBC-AWAAZ decisively outperformed on Budget Day. What editorial and distribution choices mattered most?
Three deliberate strategic choices:
– Preparation depth:
We build scenarios months in advance — deficit ranges, sectoral incentives, tax calibrations — so we’re ready with analysis the moment numbers are announced.
– Language of impact:
We translate macro policy into investor-friendly Hindi without diluting complexity. That bridges accessibility and sophistication.
– Integrated distribution:
Television, YouTube, and digital platforms operate as one editorial grid, not parallel silos. This ensures continuity of narrative.We stayed analytical while others stayed reactive.
• How different is your YouTube audience from your TV audience?
The behavioural differences are subtle but important. TV audiences prioritise authority, structured debate, and context. YouTube audiences want speed, clarity, and actionable insights — often sharper, sometimes more opinionated. However, both share one expectation: accuracy. The format evolves; the trust benchmark does not.
• How do you retain viewers after the budget speech ends?
By shifting from announcements to implications.Retention comes from shifting the narrative from announcement to implication. We break down sectoral breakouts, stock-level impact, and what to do next. The speech is just the trigger; analysis is the destination.
• Is Budget Day your biggest traffic day?
It is one of the biggest — but more importantly, it is among the deepest in engagement. Viewers spend longer durations, revisit segments, and seek follow-up programming. That indicates behavioural trust, not just traffic.
• What’s the first thing you personally track on Budget Day — the speech or the markets?
The markets. They’re the fastest truth-teller. The speech explains intent; markets reveal interpretation.
• Your personal Budget-day ritual?
Early morning prep, minimal distractions, and once the speech begins, complete immersion. For me, Budget Day is less about reaction and more about reading between the lines.
• What drove your Budget-day ratings dominance, and how are Budget and trade deals shaping markets now?
Our dominance came from credibility, consistency, and clarity.
As for markets, both the Budget and recent trade deals are reinforcing a narrative of policy stability and global integration, which supports valuations even amid global volatility.
For Singhal, the market is the final judge. Policies can promise and speeches can persuade, but prices reveal what investors truly believe. As India’s investor class grows more informed and more demanding, business journalism is shifting from commentary to calibration. The premium is on clarity, context and credibility. In a landscape flooded with noise, the real edge lies in interpretation. In the end, the markets listen to numbers, not narratives , and Singhal’s craft is helping viewers tell the difference.
