Budget 2024 Expectations Highlights: Startups eye angel tax relief and health tech boost in Budget
Founder, Director of Avaali Solutions Pvt Ltd, Ms. Srividya Kannan’s article published in economictimes-indiatimes website.
Budget 2024 Expectations Live: “As we envision ‘Viksit Bharat’ by 2047, marking 100 years of independence, India aims to become a developed nation through comprehensive socio-economic reforms. Central to this vision is the focus on manufacturing, with special emphasis on sunrise sectors such as machine learning, artificial intelligence, and renewable energy. For IT Industry, The Global Capability Centers (GCCs) are playing a pivotal role,” said Srividya Kannan, Founder and CEO, Avaali Solutions. “To achieve these ambitious goals, key recommendations for the Union Budget 2024 include enhancing export incentives, developing tier 2 locations, extending GIFT City benefits, fostering innovation, advancing skill development, revising safe harbor rules, and improving infrastructure and GST policies. Prioritizing cybersecurity, hyper-scale computing, and AI will position India as a preferred destination for IT staffing and sourcing solutions. Affordable data rates and strategic partnerships with global firms will enhance India’s appeal as an IT hub. Achieving equilibrium between input and output costs and fostering a human-centered culture are essential. The journey towards ‘Viksit Bharat’ by 2047 is both ambitious and achievable. With strategic focus and comprehensive reforms, India is poised to emerge as a global leader in various sectors, creating a prosperous future for all its citizens,” she added.