The nine focus areas outlined in Budget 2024 are commendable and poised to significantly accelerate employment generation. This will create a ripple effect, enhancing overall economic performance, productivity, job creation, social justice, urban development, energy security, infrastructure, innovation, research, and development. Such comprehensive reforms are crucial for fostering sustainable growth and prosperity.
Firstly, by focusing on employment generation, the budget aims to create a more robust job market. This not only provides individuals with income and stability but also drives consumer spending, which in turn stimulates the economy. A stronger job market also means more opportunities for skill development and professional growth, which are essential for maintaining a competitive workforce.
In terms of economic performance and productivity, the emphasis on innovation and research and development is particularly noteworthy. By investing in these areas, the budget seeks to foster a culture of creativity and technological advancement. This can lead to the development of new industries and the modernization of existing ones, boosting overall productivity and economic output.
Social justice is another critical area addressed by the budget. By promoting policies that ensure equitable access to resources and opportunities, the budget aims to reduce disparities and create a more inclusive society. This is essential for achieving long-term social stability and harmony.
Urban development and energy security are also key focus areas. By investing in infrastructure and sustainable energy solutions, the budget aims to create more livable cities and reduce our reliance on non-renewable energy sources. This not only addresses immediate needs but also ensures a more sustainable future for generations to come.
Overall the comprehensive approach taken in Budget 2024, with its focus on employment, economic performance, social justice, urban development, energy security, infrastructure, innovation, research, and development, lays a strong foundation for sustainable growth and prosperity. These reforms are not just timely but essential for building a resilient and dynamic economy." - Dr. Pamarty Venkataramana
Bussines Strategist International Corporate Jurist Author Poet.
kirang gandhi, personal financial mentor
"The 2024 Budget has increased the short-term capital gains (STCG) tax to 20% and the long-term capital gains (LTCG) tax to 12.5%. This has caused some market instability as investors react to the higher taxes. While the goal is to raise more revenue, these changes might discourage short-term trading and make long-term investments more attractive, potentially changing how the market behaves in the coming months."
Mr Rustom Lawyer, Co- founder of Augnito for the budget story.
"The Union Budget 2024 presents a pivotal opportunity for India to solidify its position as a global leader in AI and technology while addressing critical healthcare challenges. We look forward to significant investments in AI research and development, particularly in areas like quantum computing, explainable AI, and computational biology. The government's commitment to launching an India AI mission is encouraging, with potential applications across agriculture, education, healthcare, and pharmaceuticals.
In the healthcare sector, we look forward to a strong push towards digital health infrastructure and remote care, aimed at improving accessibility in rural areas. The budget may introduce incentives for healthcare training and education, potentially including GST reductions and tax deductions to build a more robust and skilled healthcare workforce.
For the technology sector, we anticipate measures to promote widespread adoption of AI, automation, cybersecurity, and cloud technologies. A key focus will likely be on addressing the tech skill gap, with initiatives like the 'Skill India Digital' campaign and increased public-private investments in vocational training.
However, the budget must also address the ethical implications and potential risks associated with AI. We expect to see frameworks for data privacy, model transparency, and fair use of AI tools. Building trust in AI systems and data protection will be crucial for India to emerge as a responsible AI leader on the global stage.
Overall, we look forward to a budget that balances innovation with responsibility, fostering an ecosystem where AI and technology can drive economic growth while improving healthcare outcomes and quality of life for all Indians."
The Union Budget's focus on upskilling Indian youth and higher education through financial packages and loans up to INR 10 lakh will have long-term benefits. The Prime Minister's Package, which includes five schemes with a budget of INR 2 lakh crore to boost employment and skills, will help India become a technology hub. This will not only benefit the EdTech industry, but also other sectors like IT by providing a steady flow of trained professionals. The center's focus on promoting employment, upskilling, and supporting the middle class is a smart policy that will drive long-term success and position India as a leader in key sectors.~ Mr. Arun Prakash, CEO and Founder of GUVI.
