Week at a glance: Decoding Budget 2023; Deep tech & PR; Marketing automation

Union Budget 2023-23

Union Budget 2023: Infusion of Rs 9,000 cr in the corpus for MSME credit

While presenting the Union Budget 2023-24 in Parliament today, Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman, proposed to continue the financial sector reforms and innovative use of technology which have led to financial inclusion at scale, better and faster service delivery, ease of access to credit and participation in financial markets.

Budget 2023 reactions: AI, 5G and the year of digital public infrastructure

The Union Budget 2023-24 presented by Finance Minister Nirmala Sitharaman lays special emphasis on the growth of Digital India and has several measures announced to strengthen the growth and usage of Artificial Intelligence in the country as well as train the youth to develop digital skills.

Budget doesn’t address high movie ticket prices & OTT subscription plan costs: M&E

Even as the Union Budget 2023 presented by Finance Minister Nirmala Sitharaman on February 1, 2023 has been hailed as a progressive and growth-oriented budget, the Media, Entertainment, and OTT sectors has found it to be underwhelming.

With Budget 2023, golden days are in store for fantasy Esports and gaming

The Union Budget for 2023-2024 proposes setting up of 100 labs for developing apps using 5G services in engineering institutions. It was also stated that mobile phone production in India has increased from 5.8 crore units valued at Rs 18,900 crore in 2014-15 to Rs 31 crore units, valued at Rs 2.75 lakh crore in the last financial year. The Bidget also proposes removing minimum threshold of Rs 10,000 for TDS on online gaming and providing clarity on taxability.

Union Budget 2023 is a bold vision for empowering the digitally marginalised: IAMAI

The Internet and Mobile Association of India (IAMAI) has applauded Finance Minister Nirmala Sitharaman for identifying in the Union Budget 2023 the correct digital initiatives in order to meet the stated objective of “a prosperous and inclusive India, in which the fruits of development reach all regions and citizens”.

Budget 2023: Taxability relating to online gaming to be clarified

Moreover, the Budget also proposes the minimum threshold of Rs 10,000 for TDS to be removed and taxability relating to online gaming to be clarified. There is also a proposal to provide for TDS and taxability on net winnings at the time of withdrawal or at the end of the financial year.

Budget 2023: More incentives needed for women leaders of tomorrow - Aditi Shrivastava

“I believe diversity and inclusion in the workforce is vital to an organisation’s overall success and, by extension, the economy, as has been repeatedly demonstrated over the years. In fact, according to market data, women’s employability increased to 51.44% in 2022 from 41.25% in 2021. We hope that this Union Budget furthers this paradigm shift in perception through the empowerment of women,” said Aditi Shrivastava, Co-Founder and CEO, Pocket Aces, while speaking about her expectations from the Union Budget 2023.

Industry expects Budget 2023 to unlock full potential of the digital world

As Finance Minister Nirmala Sitharaman gets ready to present the Union Budget for 2023-24 on February 1, the industry is hoping for measures to be announced that will fuel overall economic growth. Budget 2023-24 is an important one as it comes a year ahead of the Lok Sabha elections in 2024, and also as it comes amid a global slowdown and several geo-political tussles.

Budget 2023: What new age companies’ wishlist looks like

Allow news, ad support from Govt: Nisha Narayanan’s Budget 2023 wishlist for Radio

Speaking to Adgully, Nisha Narayanan, Director & COO, RED FM and Magic FM, said, “Fair and equal advertising support from the government is the need of the hour for the Radio industry. Despite the reach provided by radio stations, government spending on the medium has not grown in recent years. More so, the advertising rates have been stagnant for a decade now.”

Other top news of the week

The deep tech penetration and how it is reshaping Public Relations

As per a McKinsey report, the consumers embraced five years’ worth of digital adaptation in just eight weeks into the pandemic. The report also revealed that most companies will need to build new digital businesses to stay economically viable.

With Make in India push, Haier is eyeing 40% growth in 2023: Satish NS

In an interview with Adgully, Satish says that there is a paradigm shift in the company’s marketing strategy, with a shift towards the digital media. He says that there has been an increased focus on producing smart products and home appliances through local manufacturing in India. “We strive to deliver a deep alignment with the government’s ‘Made in India’ initiative by producing innovative and convenient products for Indian consumers,” he says.

Data-driven advertising is evolving to become more privacy-conscious: Gavin Buxton

In this intervew with Adgully, Buxton talks about the many advantages of CTVs, Magnite’s future growth plans, industry trends, third-party cookies, data-driven advertising, privacy, etc. Magnite, he says, continues to invest in a diverse omnichannel strategies in order to build upon and scale its CTV capabilities to better serve new and existing clients.

Why data privacy matters more than ever

With the theme of ‘Privacy Matters’ for 2023, the Council of Europe aims to nourish and promote a sense of responsibility by showing the significance of privacy for both people as well as companies. It is imperative that companies understand risks associated with data collection and usage so as to fend off any malicious activities that will be detrimental to data privacy.

How AV technologies are transforming vertical markets

In this interview with Adgully, Nayar talks about the adoption of AV technologies in various fields, the future trends, the use of projection mapping in brand promotion and marketing, emerging trends in the AV domain, the evolution of VFX, AI, VR, etc. He informs that Christie is working with its partners and content creators to incorporate AR and VR elements in their projects that will work well with its visual solutions.

Marketing automation will make waves in 2023: Keerthi R Kumar

Keerthi R Kumar, Business Head-South, FoxyMoron, shares some of his insights on the digital industry’s expectations for 2023 and the trends dominating this dynamic industry.

Siddharth Raman on how use of AI/ML is making a huge impact in sports

In an interview with Adgully, Siddharth Raman, Deputy CEO, Sportz Interactive, says that the company’s future focus is on growing the business at a double digit percentage, which “we’ve done for two years and counting”.

Ecosystem of embedded finance will gain enormous traction in 2023: Gaurav Jalan

Gaurav Jalan, Founder & CEO, mPokket, speaks about the key trends dominating the fintech industry in 2023, alternative financing availed by new businesses, growth of digital banking, and more.

NBA India’s Sunny Malik on sports’ multi-pronged growth in India

In conversation with Adgully, Sunny Malik, Business Head – Global Content & Media Distribution, NBA India, says, “Overall, it’s been a great start to the 2022-23 season, and we remain bullish about our outlook in India, and we’ll continue engaging our fans in new and creative ways throughout 2023 and beyond.”

Luxury brands are looking at driving phygital experiences: Mohua Das Gupta

Mohua Das Gupta, Head - Marketing, Tata CLiQ Luxury, speaks about the evolution in the luxury sector, changes in the behaviour of luxury shoppers, factor driving growth of the luxury sector amid a slowdown, and more.

In conversation with Adgully, Ipshita Chowdhury, CMO, Valvoline Cummins, speaks about how the role and scope of women leaders have widened in various ways, why slowing down may not be a bad idea, her success mantra, and more.