‘Inclusive, growth-oriented': Kiran Mazumdar-Shaw's take on the union budget

Kiran Mazumdar-Shaw, the executive chairperson of Bengaluru-based biotech giant Biocon Limited, on Wednesday welcomed the union budget presented by finance minister Nirmala Sitharaman, calling it an “inclusive, growth-oriented budget”.

Kiran Mazumdar-Shaw, the executive chairperson of Bengaluru-based biotech giant Biocon Limited, on Wednesday welcomed the union budget presented by finance minister Nirmala Sitharaman, calling it an “inclusive, growth-oriented budget”.

Mazumdar-Shaw lauded the announcement of a new programme to promote research and innovation in pharmaceuticals.

Mazumdar-Shaw lauded the announcement of a new programme to promote research and innovation in pharmaceuticals, saying, “The opening of select ICMR labs for research with public and private medical faculties will enhance industry-academia linkages.”

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“The Budget's focus on pharma R&D and innovation is a step in the right direction because research-oriented incentives and policies can enable the Indian pharma industry to become the R&D, bio-innovation and bio-manufacturing hub of the world,” she added in a statement.

She further said that the budget, which focussed on seven priorities, laid a path towards inclusive economic growth that will enable all Indians to have access to healthcare, education, a cleaner environment and sustainable livelihoods by the 100th year of the country's independence.

“The capex outlay of Rs10 trillion will help spur higher growth in the backdrop of a weak global economy, while the additional money in the hands of the people due to direct tax revisions will boost consumption. The increase in allocation of funds for pharma & healthcare this year is a step in the right direction,” the statement read.

Mazumdar-Shaw further praised the finance minister, saying, “With an eye on positioning India for global leadership, the FM has announced key measures for spurring digital transformation, economically empowering women, committing to climate action through a thrust on green economy and energy transition, and improving 'ease of doing business'.”