Budget Reactions 2024 by Binu Jacob, MD and CEO, Experion Technologies
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Below the Quote on Budget Reactions 2024 by Binu Jacob, MD and CEO, Experion Technologies
“As we assess the Union Budget for 2024, it's crucial to acknowledge certain aspects that merit attention. While the government's recognition of the importance of education and skill development in the youth is commendable, sustaining and expanding these efforts is imperative, especially considering the prediction that 20% of the global labor force will be supplied by India by 2047. The continuation of educational investments is a necessary step, and we hope to see tangible outcomes.
The expansion of airports and railway corridors, particularly in tier II and III cities, has potential benefits for accelerating the growth of Global Capacity Centres in states like Kerala. However, the impact of such infrastructure initiatives needs to be monitored closely, considering the challenges associated with execution and long-term sustainability.
The promise of interest-free loans for research and development in sunrise sectors is a positive note. It holds the potential to stimulate innovation and drive the startup ecosystem - I am particularly excited to see how the youth will make use of this opportunity to set up and grow startups in emerging tech like AI. Yet, the execution and accessibility of these opportunities will be critical in determining their actual impact on the ground.
The focus on ensuring the welfare of farmers and the agriculture sector is a step in the right direction. It remains to be seen how effectively these measures will address the complex challenges faced by the agricultural sector and whether they will lead to tangible improvements for farmers - what would make a real difference is bringing about policy changes that will enable the export of our produce. Export controls need to be unblocked and we need to work on an inter-governmental level to have our produce accepted internationally.
In our march to becoming a 7 trillion dollar economy by 2030, we need to focus on continuance in policies for infrastructure development, which will in turn improve supply chains and thereby lower costs for global competency”
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