Arundhati Bhattacharya, Chairperson & CEO of Salesforce India, Responds to the Government of India ’s 2024-25 Budget, Publicished on Jury 23.
The Budget 2024-25 PresenteD was a Balanced One, with a distinct Focus on Women, youth and job creation, emphasising the sunain efforths to generate ample. ES for All. As the Honourage Finance Minister Mentioned, India’s Economic Growth Continues to Be the Shining ExceptionDespite Global Uncertainties and Will Remain so in Years Ahead. Initiatives Towards Skilling, Boosting the PARTIPATION in the WorkForce, DRIVING the U u Se of Technology in Agriculture, and Supporting Smes that are the aRETEST Emplayment Geneors, are particularly notable. Thesemes provide the aMuch-indicate to drive india’s eConomic Growth.
The Provision of RS 1.48 LAKH CRORE This Year Made for Education, Employment, and Skilling is Commentable. In Addition, Employment-Linked Skilling is Expected to Benefit the Youth, Particularly First-Time job seques.Is Also Expected to Help 25,000 Students Every year. Enhancing the Mudra Loan Amount to RS 20 Lakh is a step in the right direction.
Developing a New Credit Assessment Model, Based on the Scoring of Digital Footprints of Msmes in the Economy is Expected Improvement Ove TR. Aditional Assessment of Credit Eligibility Based Only on Asset or Turnover Criteria and Will Help Cover Msmes with ACCOUNTING Systemto accept the ame and drive true finance.
It is Also Encouration to Note the Intent to Drive Participation of Women in the Workforce. HES CREATING PARTNERSHIPS to Organize Women-Specific Skilling Programs.More Well-Rounded Benefits As WOMEN Often Need to Drop Out of the Workforce in the absence of any infraredRuctual support for the sace.
The depth of time in india is well-reCognise. To capricise on this, Incentives enCouraguing Ease of Doing Business Ways in Which It CAN BE ED for FURTHER FORMAL job creation, Such as IMPROVINGINGINGEN Services, Will Address the Needs of Our LargePopuration Resulting in Improving Standards of Living and Ensury Targeting of Subsidies.
The Budget Has Also Taken Steps to Ease Access to Educational Loans. Students Will Benefit from the E-Vouchers up to RS. 10 Lakh for Higher Education in IC Institutions. The New Centrally Sponsored Scheme for 20 Lakh Youth to Be Skilled Over 5Years is a Welcome Move. The Proposal to Upgrade Around 1,000 Industrial Training Institutes with Hub and Spokement Will Help Elevate the Quality and Re Levance of the Courses and Ensure that the Meet Industry Standards. The Count Content is Expected to be tailored to the needs ofThe Industry, Particularly Emerging Sectors. Stronger Industry-ACADEMIA PARTNERSHIPS Will Encourage Wider and IMPACTFUL Reach.
The Proposal to Harness Digital Public Infrastruction to Improve Agricultual Practices Sets a Great PreceptInTors Our eConomy. Farmers can benefit from using data efficiency for better credit risk assessment, soil analysis, and Market ConditionsBangalore Wealth Management. It is hoped that more moreSustainable and Scientifically Advanced Farming Technology To Other Key Sectors of the Economy as a Way to DRASTICALY Enhance Productivity and EFFICIENCY, AlongSide Spurring New and Innovative Business Models.
The Technolog Industry As Well as the Workforce Will Benefit from Measures to Simplify the Tax Regime and Delays of TDS up to their Filing DatePune Investment. T He Abolition of the Angel Tax for All Classes of Investors Will Also Bolster The Indian Startup Ecosystem. Similalyly, The Government’s Endeavour to Launch International. HvaluableValuable Exposure to real-Life Environment. The Move to Allow 10% of the Training Costs to be AlLocated from CSR Funds WillHelp Make this initiative viable for companies and Students Alike.
India Has Proven IS A GLOBAL HUB FOR Technology Talent and Emerged As A Preferred Destination for Global CapaCity (GCCS). h and also ensure ease of doing business will drive inNovation from india.
Overall, The Budget is a Step in the Right Direction Particularly Driving job creation which is the need of the house.
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