Budget talk: Abhinav Bindra reveals how his family managed expenses so he could focus on being a professional shooter

The Olympian says striking a balance between expenses and investments needs patience.

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Abhinav Bindra thinks sports in India need investment.
Gold medallist and entrepreneur Abhinav Bindra discusses his relationship with money and how to hit bull’s eye:

On following the Budget closely as a sportsman-turned-entrepreneur
The Budget is something I believe every Indian should pay attention to, as it affects all our lives. Being an entrepreneur, I look to see what the Budget signifies in terms of the government’s commitment to sport and healthcare, two sectors that impact the work I do at my performance centre.

On managing training expenses back then while being a professional shooter

I received a great amount of support from the Mittal Sporting Trust, as well as contributions in kind from shooting equipment manufacturers. Other than that, I was fortunate to have a family that supported me and managed expenses that I could focus solely on the sport.

On striking a balance between expenses and investments
The primary goal is to work within my means, and place investments in initiatives that I care about, and have the faith in them to reap rewards in the long run. I understand that such concepts involve patience, and I am willing to see them through, provided the cause and dedication of the stakeholders remain undeterred.

​Abhinav Bindra discusses tips to hit the bull’s eye with your finances.
Abhinav Bindra discusses tips to hit the bull’s eye with your finances.

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On the tax reforms implemented in the past few years
I am optimistic about how these reforms can benefit the average Indian in the long run. In many cases, the idea is great. What remains to be seen is how the government can manage execution and adaptability to ensure the goals are met, and the country benefits as a whole.

Sectors the government should focus on
I have seen a renewed commitment to sport from the government, which is heartening. Sports in India need investment. And CSR funding from big corporations is critical. My foundation, which uses sports science and technology to help grassroots athletes of various sports gain physical self-awareness, is just one of the many causes that both the government and corporations ought to focus on and contribute in whatever way possible.

On improving income tax collections
It is important that as people have been provided a platform to thrive in this country, a platform should be established to see that no one is left behind. The logistics of it, I still think need to be formulated better.
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On transforming budgetary allocation for sports into tangible results like Olympic medals
By ensuring that more corporations and well-wishers understand the effect that their contributions can generate, the government can look to organisations in the sector to step up and leverage that interest into creating world champions. The talent is there. The support has been vastly increasing, but it can be a lot more.

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Budget Talk: Hinduja, Honda India, Zeta Bosses Have A Wishlist For FM Sitharaman
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With just days to go before Finance Minister Nirmala Sitharaman announces her (and NDA 2.0's) first Union Budget, corner offices across the country are buzzing with talk of policies and changes that the economy needs.

Not just headlines and boardrooms, Budget talk has spilled over to Twitter too; Mahindra Group Chairman and Twitter-ace Anand Mahindra recently tweeted that 'there is only one 'Big B' this week', warranting a witty response from the other Big B, Amitabh Bachchan.

To get an inside look at the reforms that India Inc bosses are rooting for, we asked top bosses across industries for their wishlists. Here's what they said.

With just days to go before Finance Minister Nirmala Sitharaman announces her (and NDA 2.0's) first Union Budget, corner offices across the country are buzzing with talk of policies and changes tha..
Read More

Rajesh Ramakrishnan, Managing Director, Perfetti Van Melle India

“Given the massive majority that the Modi government has managed to secure, we would expect some big reforms to fuel long-term economic growth. This would then lead to increasing employment, consumption and investments.

"It would be good to have some specific focus on the agriculture sector on one hand, and on the new-age sectors on the other.

"Additionally, any reduction in the corporate tax rate would help in further fuelling investments from corporates."

Rajesh Ramakrishnan, Managing Director, Perfetti Van Melle India “Given the massive majority that the Modi government has managed to secure, we would expect some big reforms to fuel long-term ec..
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Bhavin Turakhia, CEO, Zeta & Flock

"For the upcoming Budget, two key areas to focus on should be – technology and India’s salaried population.

"India’s online economy has made significant strides, shifting from a largely ‘cash on delivery’ model to now clocking a massive number of online digital transaction. In the Union Budget, an increased focus on giving better sops to build an infrastructure that can continue to empower individuals digitally will further boost our economy. Also, with technological disruption being key for startups’ growth today, we would urge the Government to encourage investments in technology hubs that will help strengthen technologies such as AI, ML etc.


"The Government must also work towards bringing some respite to GST, by reducing the tax slab for technology services and products, encouraging the early adopter market to flourish.

"For salaried employees, in the past few decades, we haven’t witnessed any increase in several allowances that are offered. For instance, the meal allowance is only Rs 50 per day, while children education allowance has a limit of just Rs 100 per month, and the driver salary limit is Rs 900 per month. It would be of great benefit for salaried people if the Union Budget 2019 considers increasing the limit of such employee tax benefits.”

Bhavin Turakhia, CEO, Zeta & Flock "For the upcoming Budget, two key areas to focus on should be – technology and India’s salaried population. "India’s online economy has made significant str..
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Rajesh Goel, Senior Vice President & Director, Marketing & Sales, Honda Cars India Ltd

"The auto industry is currently facing a slump, but it is impossible to pinpoint what exactly is causing this kind of a minus growth in the sector for the past two months. June, too, hasn't been too kind for the industry.

"Since the customers are geographically widespread, any steps taken by the industry take a long time to show effect. Therefore, the need of the hour is initiatives that will help jump-start the demand.

"Whenever this kind of a phenomenon happens, with any product, the Government must take the required steps to kick-start growth, even as the industry keeps building a hype in the market either by new products or promotions that entice the customer and help get things back on track."

Rajesh Goel, Senior Vice President & Director, Marketing & Sales, Honda Cars India Ltd "The auto industry is currently facing a slump, but it is impossible to pinpoint what exactly is causing th..
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Ronnie Screwvala, Co-founder And Chairman, upGrad

“With 90% of start-ups in India meeting a premature demise, there is an urgent need for increased support from the Government to fuel the incubator eco-system in India.


"I expect the Government to announce tax benefits for startups to boost entrepreneurship and employment in the economy including simplified norms for levying a tax on employee stock option schemes (ESOPs) at the time of sale of shares.

"There are emerging challenges in the job market coming from rapid changes in technology and automation. India's higher education institutes need to gear themselves up towards addressing these new challenges. Changes in technology and business are creating demand for reskilling of the workforce.

"And last but not the least, the government needs to build ground-level opportunities and incentives- for the few farmers left in rural areas- and the ones we need to get back there to drive India's agricultural agenda.”

Ronnie Screwvala, Co-founder And Chairman, upGrad “With 90% of start-ups in India meeting a premature demise, there is an urgent need for increased support from the Government to fuel the incuba..
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Sivaramakrishnan V, Managing Director, Oxford University Press (India)

"The Budget is coming up with the proposed New Education Policy (currently at draft stage) in the background and hence allocation towards education will be closely watched.

"This Budget should draw from the point made in the NEP on achieving ‘foundational literacy and numeracy’ by 2025. It will be worthy to tie-in early digital literacy with this effort, and therefore allocation towards ‘ICT in Education’ during primary schooling should be strongly considered.

"Another area of focus should be the Continuous Professional Development (CPD) of teachers with its delivery through the Public Private Partnership (PPP) model. Budget allocation combined with minimum mandatory hours of CPD will help upskill the large educator community.

"Previous Budgets have focused on improving skills and vocational streams, and as an extension, the Government must have an outlay for English language teaching so that the employability quotient of our young workforce goes up. This has the potential to directly impact the country’s GDP.

"Education, being on the concurrent list, is a subject of interest to states as well, and hence any new initiative must fit in well with the agenda that the respective State Department of Education (DoE’s) have to carry forward.”

Sivaramakrishnan V, Managing Director, Oxford University Press (India) "The Budget is coming up with the proposed New Education Policy (currently at draft stage) in the background and hence allo..
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Prem Dewan, Retail Head, OSL Luxury Collections Pvt. Ltd.-Corneliani

"Since the Indian Retail Market is set to cross $ 1 trillion mark by 2020 we expect, less duties to match prices globally. Removal or increasing the limit on pan card etc to Rs 5 lakhs & above of on customer purchases, otherwise luxury customers are often diverted to shop outside India to avoid checks & tabs. The government should allocate appropriate land, infrastructure, transport, technology boost to the retail sector."

Prem Dewan, Retail Head, OSL Luxury Collections Pvt. Ltd.-Corneliani"Since the Indian Retail Market is set to cross $ 1 trillion mark by 2020 we expect, less duties to match prices globally. Removal ..
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Sameer Nayar, Founder & CEO BuildSupply

“It is a welcome change to see India’s finance ministry represented by a full-time woman finance minister. I believe women bring a different perspective to decision making as they do to management and leadership. Women bring with them an all-rounded perspective that enables them to understand the micro as well as macro scenarios and present a view from a different vantage point."

"With Hon’ble Finance Minister Nirmala Sitharaman at the helm, I expect Budget 2019 to be more inclusive and structured from the ground-up to ensure that benefits pan across all constituents. Specific to the real-estate and construction industry from a policy perspective, I expect the new finance minister to look closely at how the institutional lending scenario can be improved specifically with regards to public sector banks and NBFCs. This will spur lending and kick-start growth. I would also expect the finance minister to focus more on affordable housing – by improving its scope and scale to benefit buyers and builders alike."

Sameer Nayar, Founder & CEO BuildSupply“It is a welcome change to see India’s finance ministry represented by a full-time woman finance minister. I believe women bring a different perspective to deci..
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G.P. Hinduja, Co-Chairman, Hinduja Group

“Given the headwinds blowing throughout the global economy and following the cracks emerging in trade alliances, the Finance Minister has to steer the Indian economy towards growth, and will have to pursue the path of reforms more aggressively than before.


"India remains the sweet spot that the global investor community is watching and waiting for with its high GDP growth and domestic consumption potential.

"The Budget should aim at policies that will unleash the entrepreneurial instincts of Indian businessmen. For encouraging FDI, there has to be genuine action to increase the 'Ease of Doing Business' index not just lip service.

"The Government has to enhance its spending on infrastructure creation so that we can take advantage of available demographic dividend by generating suitable employment opportunities.

"Monetary and fiscal initiatives like creation of vibrant secondary Bond market, easing up the glitches in GST input credit mechanism, incentivising the scrappage policy in Commercial Vehicle sector would help. Restoring confidence in NBFC sector is a must as it supports sections of business including infrastructure projects.

"I have always maintained that Government needs to establish a GST-like Council with both Centre and States on board, and together they need to smoothen the project implementation process for investors. Otherwise, numerous projects that are cleared by one face blocks from the other. The fiscal discipline that the Modi-govt, in its last term, followed so commendably, needs to continue.

"The longstanding demand of NRIs that their investment in Indian industry & services should be treated on par with that of domestic investors, from taxation and control point of view, should also be considered”.


Also Read: GP Hinduja hopes for a path-breaking Budget, says FM will motivate more women to become leaders

G.P. Hinduja, Co-Chairman, Hinduja Group “Given the headwinds blowing throughout the global economy and following the cracks emerging in trade alliances, the Finance Minister has to steer the In..
Read More

Rahul Puri, Multi-property General Manager, The Westin Gurgaon, New Delhi and The Westin Sohna Resort and Spa

"We hope that the upcoming Union Budget recognises the numerous opportunities that lie within the Hospitality sector and facilitates the empowerment of the sector.


"While the hospitality and tourism industry has settled down with the nuances of GST, we hope for a dynamic Budget that facilitates the reduction of corporate tax rate and streamlines GST implementation so that GST refunds are not delayed by more than 30 days.

"There is also a need for uniformity of GST. There are 2 major taxes on different categories of rooms viz 18% and 28%, which should be harmonized at par with corresponding lower GST rates in other countries. This will act as an impetus for the consumer especially the retail segment, as well as for the hoteliers and will increase the influx of guests. This will also further support and encourage new emerging hospitality trends."

Rahul Puri, Multi-property General Manager, The Westin Gurgaon, New Delhi and The Westin Sohna Resort and Spa "We hope that the upcoming Union Budget recognises the numerous opportunities that l..
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