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The flexible budget also known as variable budget can be defined as an financial estimate revenues and expenses on the basis of current/actual volume of sales/ production/ activity level which changes with the change in the actual input and outputs levels.
A fixed budget can be defined as a roadmap laid down by the management at the beginning of any financial period which draws an estimate of various activities like sales, production etc. along with required costs/ revenue figures. A fixed budget is the conjecture of the income and expenditure for a given periodwhich remains unchanged with the increase and decrease in actual production level. When the actual outcomes are compared with the fixed budget data, the actual outcomes may vary from the figures laid down infixed budget. It is used by the management, financial experts and accountants of the organisation to develop a roadmap and set guideline according to which company will function in future.Management uses fixed budget as a source document with which they can compare actual cost/ sales volume and other figures so as to determine variations and its reasons thereof.
A fixed budget aids a business to attain optimal performance by checking revenues, sales and expenses. By comparing each departments performance with a fixed budget, identifying and analysingvariations, reasons for variations helps the organisation to achieve their financial goals in the long run. A fixed budget may be used by management like managers, chief financial officers and accountants in order to analyse and develop financial controls. It act as a system check tool that blocks overspending and tallies expenditure with revenue being generated from sales. A well-controlled fixed budget also aids in developing cash flow projections. In simple words, it can be said that a fixed budget is a planning tool that helps the organisation to monitor all the revenue being generated and all the expenses being incurred and thus helps in achieving its financial goals.
A flexible budget is a redrafted budget prepared in accordance with different activity levelsor at different capacity utilization levels which changes with eachchange in change activity levels of the organisation. Here, actual revenues and other cost details are placed during or after the completion of a financial period.Flexible budget is prepared from fixed budget and is therefore known as revised budget. Once after preparation of flexible budget, management compare actual figures and determine variances. Performing this activity helps management to analyse reasons for deviations at an early stage and take suitable corrective actions at the earliest. Basic objective of flexible budget is to develop a standard level of costs which should be incurred for actual manufacturing outputs. A flexible budget is prepared taking into considerations nature of various cost incurred as like fixed or variable. An entity can draw multiple flexible budgets based on different capacity utilization as per different business scenarios.Head to Head Comparison between Fixed Budget vs Flexible Budget (Infographics)
Below are the top 8 differences between Fixed Budget vs Flexible Budget:Key Differences between Fixed Budget vs Flexible Budget
A company needs to draw both fixed and flexible budget. Both the budgets are necessary and serves different purposes. Fixed budget provides a roadmap based on which company operates for the specified period whereas flexible budget provides the details of standard cost of operations at varied capacity utilization level. Major differences between the fixed budget and flexible budgets are as follows-
A fixed budget has no impact of change in activity i.e. it does not change with the increase or decrease in the output levels. A flexible budget changes itself with every change in the activity levels.
Fixed budget is also known as static budget as it is static in nature, doesn’t change at all. A flexible budget is dynamic in nature and changes as per the requirement of the organisation and is also known as revised budget.
Fixed budget is drawn up based on a single set scenario and assumes zero deviation whereas flexible budget is drawn by predicting various business scenarios thereby providing details of cost/ revenues at varied activity levels.
Fixed budgets are operational at single activity level whereas flexible budgets can be operated at multiple levels.
Fixed budget is very simple and works on assumptions while the flexible budget is complex and works on real data.
Fixed budgets are rigid as they cannot be modified as per the real outputs. Flexible budgets are elastic in nature and can change with the change in the volume of production.
Fixed budget is prepared based on historical data and predictions of management for upcoming events. A flexible budget is based on outcome of the actual activity level
Fixed budget is compatible only with small business while flexible budgets are compatible with all small, medium and large business.
Variations identified and analysed with the help of flexible budget are more important as they provide details of operating efficiency/ inefficiency based on actual output.
Fixed budgets are less time consuming while flexible budgets are more time-consuming.Fixed Budget vs Flexible Budget Comparison Table
Definition Budget drawn based on historical data and management future assumptions which provides set guidelines for operations during the budgeted period. Budget drawn based on actual activity levels to determine standard operating cost for actual outputs which changes with each change in actual output
Rigidity Remains constant at all levels of activity of a business It is a budget that changes with the change in the level of activity.
Character Static Dynamic
Directness Simple Complex
Level of Activity Single More than one (multiple)
Measurement of Performance Comparison between actual and budgeted cannot be done correctly Act as efficient measuring tool for comparison between actual and budgeted data.
Rigidity No changes can take place with respect to real data. Can be changed with the change in actual data
Source of Preparation It is based on assumption and predictions. It is based on factual data and is realistic.Conclusion Recommended Articles
This is a guide to Fixed Budget vs Flexible Budget. Here we also discuss the fixed budget vs flexible budget key differences with infographics and comparison table. You may also have a look at the following articles to learn more –
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With this pricing, the Realme 1 gives stiff competition to smartphones from already established brands in the budget segment like Xiaomi. To recall, Xiaomi has recently launched a selfie-focused smartphone Redmi Y2 in India that the company touted as ‘RealYou’.
Let’s find out between RealMe or RealYou, which one is the better budget smartphone!Oppo Realme 1 Vs Xiaomi Redmi Y2 Specifications
Key Specifications Realme 1 Redmi Y2
Display 6.0-inch IPS LCD 18:9 ratio 5.99-inch IPS LCD 18:9 ratio
Screen Resolution FHD+ 1080 x 2160 pixels HD+ 720×1440 pixels
Operating System Android 8.1 Oreo with ColorOS 5.0 Android 8.1 Oreo with MIUI 9
Processor Octa-core Octa-core
Chipset Mediatek MT6771 Helio P60 Snapdragon 625
GPU Mali-G72 MP3 Adreno 506
RAM 3GB/4GB/6GB 3GB/4GB
Internal Storage 32GB/64GB/128GB 32GB/64GB
Expandable Storage Yes, up to 256GB Yes, up to 256GB
Primary Camera 13 MP (f/2.2), PDAF, LED flash Dual: 12 MP + 5 MP (f/2.2, 1.25µm), PDAF, LED flash
Secondary Camera 8 MP (f/2.2) 16 MP with f/2.0, Selfie-light, Super Pixel and AI Beautify 4.0
Video Recording [email protected] [email protected]
Battery 3410 mAh 3080mAh
4G VoLTE Yes Yes
Dimensions 156.5 x 75.2 x 7.8 mm 160.7 x 77.3 x 8.1 mm
Weight 155g 180 g
Water Resistant No No
Sim Card Type Dual Nano-SIM with dedicated slot Dual Nano SIM with dedicated slot
4GB/64GB- Rs. 10,990
4GB/64GB- Rs. 12,999Design: Glass back vs Metal finish
If we talk about the design of the two smartphones, the Realme 1 stands out with its unique design. The phone has a diamond-cut pattern with a reflective glass-like back that provides it a premium look.
So, overall in terms of design, Realme1 is a winner here because of its diamond cut glass back body which gives it a premium look.18:9 Display: FHD+ Vs HD+
While Xiaomi Redmi Y2 sports a similar 5.99-inch LCD display with an HD+ screen resolution (720 x 1440 pixels). Further, it also comes with 18:9 aspect ratio which means it has a full-screen display with minimum bezels.
Talking about the comparison, the display of Realme 1 seems to be sharper because of its FHD+ resolution.Cameras: 8MP selfie Vs 16MP AI selfie
On the other hand, Redmi Y2 is a selfie-centric smartphone and has a 16MP front camera with f/2.0, LED flash and 2.0µm pixel size. It also comes with AI beautify 4.0 and offers portrait mode in the front camera.Front Camera Samples
So, here we can see Realme 1 overexposes the selfie while Redmi Y2 takes little dull pictures while keeping the colors real. You cannot really decide which one is better at first, however, with more accurate coloring and better specs on paper Redmi Y2 wins here.Single Rear Camera Vs Dual Rear Camera
Coming to the rear camera, the Realme comes with a single rear camera of 16MP. It has a f/2.2 aperture, PDAF and LED flash as features with depth effect, super vivid and HDR modes as well.Rear Camera Samples
Here again, the dual camera setup on Redmi Y2 results in better pictures than the Realme 1. The single 13-megapixel rear camera on Realme 1, despite having depth effect cannot match the effect of the dual cameras.
Here are some other pictures to compare:Hardware: Helio P60 Vs Snapdragon 625
The Realme 1 comes with a much more capable Helio P60 processor that also comes with AI capabilities thanks to a dedicated APU (AI processing unit). It is coupled with either 3GB, 4GB, or 6GB of RAM.
Helio P60 chipset inside Realme 1 is based on the power-efficient 12nm fabrication process.
So, in terms of hardware, the Realme 1 manages to push the Redmi Y2 over as the former packs a more powerful AI capable Helio P60 processor. Following are their benchmark scores:Software: ColorOS Vs MIUI
Software-wise, both the phones come with the latest Android 8.1 Oreo. Realme 1 comes with ColorOS 5.0 on top while the Redmi Y2 runs MIUI 9.5 skin on top of Oreo.Battery and Connectivity
The Realme 1 is powered by a massive 3,410 mAh battery with AI Battery Management which is enough to provide more than one day of usage. While Redmi Y2 is powered by a 3,080mAh battery which is said to offer full-day usage. So, in terms of battery Realme 1 is a winner.
When it comes to connectivity, both the phones support usual connectivity features. They both also come with dual Nano-SIM cards and a dedicated microSD slot support as well.Conclusion
The RealMe 1 and Redmi Y2 both have been priced aggressively in India to lure the first time Android users while offering all the essential features. If we talk about the comparison, Realme 1 is a winner in terms of design, display, and hardware while Redmi Y2 has good results in terms of camera and also has a refreshed design. Overall, if you are not a fan of any of the company and looking for a phone with solid performance, Realme 1 is a good option.
When you’re shopping for a motherboard for your custom-made PC, look for a few important features. First is support for USB 3.0, which prepares you for the future. Second is 6-gbps SATA ports, which will support faster data-transfer rates on newer hard drives and on solid-state drives (not to mention the fact that more SATA ports will allow room for attaching more devices). Third, if you’re using a Sandy Bridge CPU such as the Core i5-2500K or Core i7-2600K, you’ll need a motherboard with the 1155 Socket.Budget
Intel: ASRock P67 Pro ($99)
This motherboard offers four DIMM slots to accommodate a maximum of 32GB of RAM, and it supports overclocked RAM at speeds up to 2133MHz. You’ll also find a pair of 6-gbps SATA ports, as well as four 3-gbps SATA ports. The ASRock P67 Pro supplies six USB 2.0 ports and two USB 3.0 ports, as well, but only a single PCI Express 2.0 x16 slot; this arrangement limits you to one graphics card, but that should suffice for a budget PC.
AMD: Gigabyte GA-970A-D3 ($90) For systems using AMD processors, motherboards with the AM3+ socket are the way to go. Although the Gigabyte GA-970A-D3 is inexpensive, this motherboard doesn’t scrimp on features. Built on the AM3+ socket, the GA-970A-D3 offers four DIMM slots to hold up to 32GB of RAM, with support for memory overclocked to speeds of up to 2000MHz. It also provides a pair of PCI-E 2.0 x16 slots, six 6-gbps SATA ports, eight USB 2.0 ports, and two USB 3.0 ports. For just $90, you’re getting an excellent package here.Performance
Intel: Asus P8Z68-V PRO/GEN3 ($204)
My choice is the Asus P8Z68-V PRO/GEN3 (yes, that name just rolls off the tongue). It’s built on the new Z68 chipset, which essentially combines the P67’s overclocking support and the H61’s integrated-graphics support. The latter gives you access to Intel’s Quick Sync technology, which speeds up video-conversion tasks immensely. The integrated graphics also can step in when your graphics tasks are less strenuous–say, when you’re watching a YouTube video–allowing your discrete graphics card to power down, and saving a bit of energy. On top of that, the chipset supports Intel’s Smart Response technology, which lets you section off part of an SSD to serve as a cache for a conventional hard drive, speeding up performance.
This motherboard has four DIMM slots for up to 32GB of RAM, and it supports overclocked RAM at speeds up to 2200MHz. Notable features include two PCI Express 3.0 x16 slots (which makes room for two graphics cards working in tandem); four 6-gbps SATA ports and four 3-gbps SATA ports; Bluetooth, VGA, DVI, and HDMI ports; two USB 3.0 ports; and six USB 2.0 ports. Among my favorite features are the built-in power and reset switches, which are helpful for troubleshooting when you’re tinkering inside the PC.
AMD: Asus Crosshair V Formula ($219)RAM: A Great Bargain for Any PC
As you’re selecting components for your tailor-made PC, you’ll probably find that settling on the amount of memory is the easiest decision you’ll have to make. Since RAM has become incredibly cheap, you have little reason not to grab a hefty amount.
G Skill Ripjaws 1600MHz DDR3, 8GB ($50)
Good sound quality
Excellent battery life
Tricky to get out of the case
Can slip out of earsOur Verdict
If you’re looking for a simple pair of wireless earbuds and don’t care about noise cancelling, then the Onyx Ace Pro are an excellent choice. Audio sounds great, battery life is long, and the price is one we can all afford. Not bad at all in these difficult times.Best Prices Today: Tronsmart Oynx Ace Pro
Over the past year or so there’s been plenty of budget friendly wireless earbuds released that feature active noise cancellation and other fancy modes. The thing is those capabilities have begun to stretch what budget-friendly really means.
Tronsmart seems to have spotted this and has launched the Onyx Ace Pro buds that keep things simple and the cost affordable. But is this minimalist approach a blessing or a curse?Design & Build
Half in design
Pretty much all of the wireless earbuds I’ve reviewed over the last few years have come with pill-shaped charging cases that have almost no external decoration. Tronsmart has obviously gotten bored of this ascetic approach, so with the Onyx Ace Pro there is a silver trim around the flip-top opening, plus a silver panel on the front that houses the four lights that tell you how much charge it holds.
Opening up the box and taking out the buds is a little fiddly, but once extracted they bear a very Apple AirPods aesthetic. There’s no rubber ear cups for holding them in your ear canal, instead smooth plastic ovals are attached to short stalks, with the former resting against the openings in your ears. Basically, if you’ve used a pair of regular Apple AirPods in the last ten years then you’ll know how these work.
As is normal with this design, it’s one-size fits most with no silicone tips. So, those who have had problems in the past with semi in-ear buds slipping out by themselves, may prefer to go for a pair of in-ear buds like the affordable Redmi AirDots.
Inside the buds Tronsmart has fitted 13mm composite polymer drivers to deliver the audio, all controlled by a Qualcomm QCC3040 processor that offers aptX adaptive audio decoding and provides cVc 8.0 call reduction technology to help make phone calls clear and free from unwanted artefacts.
The plastic construction means the Onyx Ace Pro are featherlight, with speakers at one end of the ovals, two microphones for each bud, and a touch sensitive control area on the outside of each stalk.
Martyn Casserley / Foundry
There are a pretty standard range of touch commands available, with a double tap on either one triggering play/pause, tapping and holding for 2 seconds on the right bud will skip to the next track, while doing the same on the left one will take you to the previous track. Thankfully, there is also a volume control option, by tapping once on the right bud to turn up and once on the left to turn down.
The Onyx Ace Pro support various digital assistants, depending on which smartphone you use, and you can launch this by tapping the right bud three times. You can also use the play/pause command to answer or end phone calls.
Pairing the buds is simple, with the first time requiring the flip top case to be opened (with the buds still inside), then pressing and holding the pairing button found on the bottom of the case next to the USB-C charging port. When the lights start to flash, it means the pairing mode is active, then it’s just a case of selecting them from the available devices menu on your smartphone or other device.
Once this is set up, they connect automatically every other time you take them out of the case. I found the connections to be reliable and solid throughout my time with the buds, and the Bluetooth 5.2 technology even allows you to venture about ten metres away from your device before the signal is lost.
An IPX5 rating assures you that the buds can be used in the rain without worrying they’ll go kaputt, plus they should also survive the odd splash or two.Sound Quality & Features
Good audio quality
Gaming Mode for enhanced audio/video syncing
The Onyx Ace Pro buds are capable of some very nice audio. Spoken word content sounds rich and full, with enough bottom end to make everything feel solid and warm. Put on some music and again there are pleasing results, with a wide frequency spread that can handle folk to metal without skipping a beat. There’s also plenty of volume on offer, although do be careful with this as prolonged use (of any loud earphones) can damage your hearing.
I was impressed with the quality of the tones coming out of the buds when they were securely wedged into my ears, but things do drop away a bit if the buds get slightly dislodged. When the buds are fully in your ear, they create enough of a sealed chamber to blot out most of the background noise in a room or busy environment.
Martyn Casserley / Foundry
But the shape of them, and the lack of any different sized covers that you find on the in-ear bud style alternatives, means it can be a little too easy to knock them out from those firm fits when operating the touch controls, allowing noise to get in. This isn’t a problem particular to these headphones, it’s just a design compromise that has always been attached to this style of earphones.
Conversely, if you don’t like having buds jammed in your ear canal, then these are a good alternative. The Nothing Ear (Stick) are another option if you have more to spend.
There’s no active noise cancelling, and therefore no ambient mode that can keep you aware of what’s going on around you while you enjoy content on the buds. This is fine if you want to get rid of the din that’s usually going on in the world, but does make you oblivious (aurally anyway) to your surroundings.
What is on offer is a Gaming Mode, which beefs up the audio/video synchronisation capabilities of the buds, with a slight hit to battery life in the process. The idea is that you can use the Onyx Ace Pro more comfortably with games, as the sounds you hear will stick closely to video you see on your handset.
It worked fine for me and also doubled up to improve the syncing of the buds to my TV so I could watch Netflix at night without waking the family or getting dizzy from the delay of people’s lips moving before I heard them speak. You access the Gaming Mode by tapping the left bud three times, and turn it off by repeating the process.
Phone calls were equally good, with our recipients reporting clear audio with little in the way of distortion or noise.Battery Life & Charging
Over 6 hours from single charge
Case can hold enough energy for 5 recharges
Around 1hr 20mins recharge time for buds
These have to be some of the most impressive buds I’ve tried in terms of battery life. From a single charge in the case the buds are able to pass the six hour mark before needing to pop them back in for a refresh.
Admittedly, it does take over an hour to get them back up to 100%, but that’s a price I’d be happy to pay for the prolonged listening sessions they provide.
Tronsmart doesn’t state the battery sizes for the buds or the charging case, but the latter is no slouch either, having enough reserves (after a full two hour charge) to replenish the buds around five times. A total of 36 hours is commendable.
Martyn Casserley / FoundryPrice & Availability
You can pick up the Onyx Ace Pro buds from Aliexpress for £29.99/$39.99.
The company also told me that these should be coming to Amazon but they are nowhere to be found at the time of writing.
Looking at the competition, the most obvious alternative is the Redmi AirDots that you can get on Amazon for £25/$25 and which have largely similar appointments to the Onyx Ace Pro.
If you want noise cancelling, then you’ll need to spend a bit more, but the Redmi Buds Pro 3 are an excellent option at £65 on Amazon UK and $59.99 on Amazon US.
Check out more options in our roundup of the best budget wireless earbuds.Verdict
Tronsmart lives up to the latter half of its name, delivering a solid pair of wireless buds that provide good audio, are comfortable to wear, and have excellent battery life all for a price that most people can afford.
If you’ve been wary of switching to wireless earbuds, these would be the perfect place to start, as you can always upgrade to a pair with active noise cancelling later on without feeling like you’ve wasted your money.
The only real blemish is how easy it can be to dislodge them when using the controls, but if your ears fit with this style of earphone, I think you’ll be very happy with the Onyx Ace Pro.
Every successful project relies on effective project budget management. Maintaining focus, averting shocks, and eventually completing projects that exceed expectations are essential. With effective budget management, you’ll have the plan to follow, a way to gauge your success, and assurance from knowing everything is in order.What is a Project Budget?
Project budgeting establishes the overall amount of money used for the project. The project manager and/or the project management team have calculated the budget. The budget is a projection of all the expenses that will likely be needed to finish the project.
Budgets are crucial for securing the project, supporting key stakeholders, and setting expectations. A budget also guarantees that the necessary finances are accessible and aids in performance evaluation for the team. The document defining the budget’s specifics throughout the project should be followed, updated, and evaluated.Why is Project Budgeting So Important?
Project Budgets are vital communication tools. They encourage open communication between the project team and important stakeholders. It is an important component of project management crucial to success. The following are some of the main reasons why project budgeting is vital −
Setting Financial Boundaries − A project budget establishes the financial parameters for a project and aids in determining the limitations of what can be accomplished with the resources at hand.
Monitoring Progress − A project budget is a road map for monitoring development and spotting departures from the original strategy. This makes it easier for project managers to respond quickly to problems and keep the project moving forward.
Managing Costs − Project budgeting aids in cost management by ensuring efficient resource usage and giving a clear picture of project expenditures. Additionally, it aids in reducing waste and the danger of overpaying.
Allocating Resources − Project budgeting helps project managers to effectively and efficiently allocate resources, such as persons, equipment, and materials.
Facilitating Decision-Making − Project managers have access to the data they need to make well-informed choices regarding the distribution of resources and risk management from a well-defined project budget.Top Tips On How to Manage Project Budgets Establish the Budget with the Participating Team
Be prepared to include the team in charge of the project’s execution when estimating expenses. Get feedback from all relevant stakeholders since they are the ones who are aware of even the smallest cost that should be included in the final buildups. This is crucial to providing a value quote.
The budget situation must also be known to the whole team. Keep the project team up to date on the projected budget. A strong team that takes responsibility for its initiatives is well-informed. Transparency will be achieved by informing the team about the budget situation and soliciting their opinions to prevent further misunderstanding.Track the use of Resources
The cost of labor will be one of your project’s highest costs. It will also include tools and technologies. Successful project management relies on continuously managing your resources, just as you would your budget. Review the number of employees working on your project regularly, and if you are going over budget, change your strategy. The same is true of your technology stack.
You can utilize the resources for your project efficiently if you take the time to evaluate them. It will also enable you to determine if more resources are required to complete your project effectively.Recognize the Actual Needs and Requirements of the Stakeholders
It’s not always as easy to understand upfront what stakeholders say they need or desire from a project. Undefined aims and expectations on both sides of the table may result from this. Imagine that the project manager, sponsors, team members, and suppliers are unaware of the genuine preferences of the stakeholders. Under such a situation, determining the project’s needs is impossible.
Spend as much time as is necessary to have a comprehensive grasp of what stakeholders anticipate. Ultimately, stakeholder expectations, deliverables, and other needs determine everything, even the budget. So, ensuring that project needs are precisely defined, recorded, and validated with all stakeholders — and that they are communicated to all parties involved — is the first step to an efficiently managed project budget.Hold onto your Project’s Focus
There is a propensity for some unanticipated work to enter your timetable for every project. This “scope creep” may significantly change the project’s emphasis, eventually failing its budget and the project itself. It’s crucial to often remind team members of your project’s initial goal to lower your danger of scope creep.
Unscoped work ultimately results in billable hours. Also, it can need outside assistance, brand-new equipment, or other resources. You’ll almost certainly overpay if you haven’t planned for this in your budget.
Of course, taking unforeseen changes into account is crucial for any project you oversee. Stay adaptable and open to change without worrying that your project won’t succeed if you budget for it.Make a Budget for Every Stage of your Project
While establishing a budget for each project phase, consider labor and material expenses. Salaries for project workers and any subcontractors required at certain phases are included in labor expenses (such as web designers during development). Office supplies, furniture rentals, and other items needed for each project phase are included in the material expenses.Communicate with your Employees
A project is only as good as the team working on it, and a team with poor communication will almost certainly overspend. Keeping your team updated on the project’s budget projection will promote responsibility and efficiency. Promote open communication to increase project ownership. Employees will generate excellent work if they are invested in the success of a project.Monitor and Manage Change with Precision
One of the most underrated aspects of project management is change management. Project management experts know the value of communication and how procedures affect stakeholders. A small adjustment might result in major cost increases and budgetary problems in any process. The specific solutions to deal with internal and external changes that may cause expenses to exceed budget should be identified, documented, and communicated by change management professionals in collaboration with project teams.Bottom Line
Budgeting for a project is a difficult process. Budget issues are mostly caused by either overestimating or underestimating how long it will take to complete your project. You can estimate the project’s cost by knowing how long each component will take. It’s difficult to keep expenses down, keep employees on track, complete your project within scope, and, more crucially, under budget, without defined funding in place and without continuously monitoring your expenditure and your resources.
Ahead of the Union Budget 2023 the Indian tech industry shares its wish list from the government
Digitisation and digital transformation have been buzzwords over the last two years. While much has already been done, and India has made tremendous progress in the area, there is still a long way to go before we can call ourselves a truly Digital India. Ahead of the Union Budget 2023 the Indian tech industry shares its wish list from the government, as well as emphasized the need to incentivize digital transformation. “The Union Budget should accelerate the growth of the digital economy by making it easier for businesses to invest in tools and technology that are crucial to their growth. The government can spur innovation in India by creating policies that incentivize technology product exports and encourage startups to make in India for the world.”
BhavinTurakhia, Founder and CEO of Nova (Flock and Titan)
“Following two years of economic uncertainty caused by the pandemic, and amidst the third COVID-19 wave, I am expecting that this year’s Union Budget will be a pragmatic one. There is an urgent need for the Government of India to continue its focus on infrastructure spending to boost the economy and increase employment opportunities. It will be great to see the Union Budget allocate funds toward incentivizing the use of emerging deep technologies like artificial intelligence, intelligent automation, blockchain, augmented / virtual reality, etc., among businesses. Today, businesses across verticals are generating large amounts of data, which when harnessed through the use of new-age technologies can be better leveraged to solve challenges faced by citizens. Promoting digitization is the need of the hour, and while we have made significant progress in this area in the last few years, we still have a long way to go. At this juncture, incentives, tax benefits, and provisions for optimization of cloud services can greatly help in building a truly ‘Digital India’.”
Puneet Gupta, Managing Director & Vice President, NetApp India
“The Union Budget in India is always eagerly awaited by everyone, from corporates to taxpayers, with all hopes attached to having simplified compliances. In the wake of the third Covid wave, there is a certain expectation in terms of rebates and relief from the Finance Ministry on Indirect and Direct taxes. Stimulus packages and tax exemption policies designed for the COVID impacted era would help revitalize the economy. Moreover, the duration of the compensation cess ends in June 2023, hence it would be great if the government could look at providing an extension on this by six months or a year. The Ministry of Finance may have some surprises in their bags for the GST regime specifically from a sectoral perspective, hence as a leading industry player, we are looking forward to this. In order to provide a fillip to business growth, the government is also expected to introduce financial aid to build a strong digital infrastructure for MSMEs and startups. This will help further strengthen organizations, enabling them to grow and thrive in today’s remote work environment.”
Niraj Hutheesing-Founder and Managing Director, Cygnet Infotech.
“India saw a euphoric rise in the number of unicorns in 2023, adding 33 in a year making it one of the fastest-growing technology startup ecosystems globally. This growth has been on the back of overall improvement in ease of doing business, and this should continue to remain an ongoing focus and priority. Within the logistics space, there has been a massive disruption led by a major increase in last-mile deliveries. Additionally, as Make-in-India along with the national freight corridors gains momentum, this is going to further increase demand for logistics. All of this necessitates building infrastructure capabilities that are future-ready. We can achieve this with the right focus on digitizing processes and making international trade easier, which would go a long way in elevating India’s position in the global technology and logistics arena.”
Dhruvil Sanghvi, Founder & CEO, LogiNext.
“When it comes to Electronics System Design and Manufacturing, we as a country have a huge potential in becoming a global hub. The recent semiconductor-focused Performance Linked Incentive (PLI) scheme announced by the government has been a major boost for the ecosystem. The Design Linked Incentives (DLI) which is another element linked to the scheme has been beneficial for the design and fabless companies. From a Union Budget perspective, we are definitely hopeful of an MSME-centric budget from the Finance Ministry which will help in stabilizing growth and further boost this segment, especially during these challenging times caused by the ongoing pandemic. This will also help MSMEs working in the deep tech space to engage in product R&D and manufacturing. Further, in order to encourage the manufacturing of indigenously designed products, the government should also look at relaxing tax burdens, and provide tax exemptions in areas such as customs duty.” “
Digitisation and digital transformation have been buzzwords over the last two years. While much has already been done, and India has made tremendous progress in the area, there is still a long way to go before we can call ourselves a truly Digital India. Ahead of the Union Budget 2023 the Indian tech industry shares its wish list from the government, as well as emphasized the need to incentivize digital transformation. “The Union Budget should accelerate the growth of the digital economy by making it easier for businesses to invest in tools and technology that are crucial to their growth. The government can spur innovation in India by creating policies that incentivize technology product exports and encourage startups to make in India for the world.”“Following two years of economic uncertainty caused by the pandemic, and amidst the third COVID-19 wave, I am expecting that this year’s Union Budget will be a pragmatic one. There is an urgent need for the Government of India to continue its focus on infrastructure spending to boost the economy and increase employment opportunities. It will be great to see the Union Budget allocate funds toward incentivizing the use of emerging deep technologies like artificial intelligence, intelligent automation, blockchain, augmented / virtual reality, etc., among businesses. Today, businesses across verticals are generating large amounts of data, which when harnessed through the use of new-age technologies can be better leveraged to solve challenges faced by citizens. Promoting digitization is the need of the hour, and while we have made significant progress in this area in the last few years, we still have a long way to go. At this juncture, incentives, tax benefits, and provisions for optimization of cloud services can greatly help in building a truly ‘Digital India’.”“The Union Budget in India is always eagerly awaited by everyone, from corporates to taxpayers, with all hopes attached to having simplified compliances. In the wake of the third Covid wave, there is a certain expectation in terms of rebates and relief from the Finance Ministry on Indirect and Direct taxes. Stimulus packages and tax exemption policies designed for the COVID impacted era would help revitalize the economy. Moreover, the duration of the compensation cess ends in June 2023, hence it would be great if the government could look at providing an extension on this by six months or a year. The Ministry of Finance may have some surprises in their bags for the GST regime specifically from a sectoral perspective, hence as a leading industry player, we are looking forward to this. In order to provide a fillip to business growth, the government is also expected to introduce financial aid to build a strong digital infrastructure for MSMEs and startups. This will help further strengthen organizations, enabling them to grow and thrive in today’s remote work environment.”“India saw a euphoric rise in the number of unicorns in 2023, adding 33 in a year making it one of the fastest-growing technology startup ecosystems globally. This growth has been on the back of overall improvement in ease of doing business, and this should continue to remain an ongoing focus and priority. Within the logistics space, there has been a massive disruption led by a major increase in last-mile deliveries. Additionally, as Make-in-India along with the national freight corridors gains momentum, this is going to further increase demand for logistics. All of this necessitates building infrastructure capabilities that are future-ready. We can achieve this with the right focus on digitizing processes and making international trade easier, which would go a long way in elevating India’s position in the global technology and logistics arena.”“When it comes to Electronics System Design and Manufacturing, we as a country have a huge potential in becoming a global hub. The recent semiconductor-focused Performance Linked Incentive (PLI) scheme announced by the government has been a major boost for the ecosystem. The Design Linked Incentives (DLI) which is another element linked to the scheme has been beneficial for the design and fabless companies. From a Union Budget perspective, we are definitely hopeful of an MSME-centric budget from the Finance Ministry which will help in stabilizing growth and further boost this segment, especially during these challenging times caused by the ongoing pandemic. This will also help MSMEs working in the deep tech space to engage in product R&D and manufacturing. Further, in order to encourage the manufacturing of indigenously designed products, the government should also look at relaxing tax burdens, and provide tax exemptions in areas such as customs duty.”VishwakumaraKayargadde, Co-Founder and COO, Saankhya Labs
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