This is a great Budget for the economy & ad industry: Ashish Bhasin

The Union Budget for 2021-22, presented by Finance Minister Nirmala Sitharaman in Parliament earlier today, is being seen as a growth-oriented Budget by the industry.

Reacting to the Budget 2021, Ashish Bhasin, CEO-APAC and Chairman - India, Dentsu, said, “According to me, this is a great Budget for the economy as well as for the advertising industry. It is clearly a growth-oriented budget and I am particularly enthused about the investments in Infrastructure and Health. What is also good is that the taxes have not been raised and the process of taxation has been attempted to be simplified. Disinvestments and Borrowings have been proposed as the preferred funding route, rather than increased taxation, which is helpful.”

Adding further, he pointed out that whenever the economy does well, the advertising industry benefits. Hence, he felt that this economic growth that the budget fuels will result in good growth for the advertising industry this year and the industry should be positive and bullish, both about India’s economic future as well as for the advertising industry.

“I also like the thrust towards increased usage of digital, including in governance, starting from the symbolic usage of an India made tablet to read the Budget from by the Finance Minister,” Bhasin added, however, at the same time, he also said that one has to still see the fine print, because the important thing is that the ideas presented must result in smooth on-ground implementation, where our track record has not been that great in the past.

“Overall, I find this a good, growth-oriented budget, with some benefits for almost every section of the economy and hopefully this should bring our GDP growth into double digits making India the world’s fastest-growing economy this year,” Bhasin signed off on a hopeful note.