Budget 2021: Bold measures needed by Govt to boost sluggish economy - Nirav Lalan

All eyes are on the Union Budget 2021-22, to be presented by Finance Minister Nirmala Sitharaman on February 1, 2021.

Speaking on the major changes that took place during the pandemic period, Budget 2021, Nirav Lalan, Global Chief Operating Officer, Team Pumpkin, remarked, “The accelerated push to digital during COVID-19 has given more powers in the hands of our consumers and now the content, medium and tonality of the ads are being directly controlled by them. Linear media clearly took a backseat and digital immediately overtook the space. To stay current and connected, every brand had to revisit their communication and marketing strategies. Even the most orthodox brands shifted to the unorthodox media and relied heavily on social platforms to keep their customers engaged.”

Commenting on his expectations from Budget 2021, Lalan added, “Now, when everybody is talking about going back to the ‘old’ normal in the post-vaccine phase, we do see traditional marketing and advertising rebounding. Despite these contemplations, digital marketing and non-linear advertising will still hold the crown. And keeping the upturn of events in mind, we are hoping this year’s Budget to also focus on digital and technology like last year. However, in Budget 2021, we expect some bold measures by the Government to boost demand and accelerate the pandemic-impacted sluggish economy.”