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Budget 2024 expectations: Make India an attractive destination for high-skilled talents
413 views | Jan 31, 2024, 06:32:28 PM | TOI.in
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Budget 2024 expectations: “The budget is an instrument of the government to lay down its estimate of annual expenditure and revenue, and it's also part of its fiscal policy. The government has set up an ambitious target of GDP $5 trillion by the year 2025 and the potential to take it to $7 trillion by the year 2030. To achieve this ambitious target, one of the important parameters will be to transform India into a manufacturing hub. There have been efforts from the government to help set up of industries in technology-focused sectors such as semiconductor chips and EV batteries. These technology-focused industries require individuals with high-skilled talents, which is currently adequately not available in India. Hence, the government needs to make India an attractive destination to help these individuals to move to India. The access to advanced technology will be through such individuals, which will also lead to upskilling and reskilling of the local talent in India. To make India an attractive talent destination, the government needs to ease, align, and integrate its immigration, tax, and social security regulations,” says Hitesh Sharma, Partner, Vialto Partners. Budget 2024, which will be an Interim Budget, will be presented by Finance Minister Nirmala Sitharaman on February 1, 2024 as part of the Parliament’s Budget session.
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