Atul Soneja, Chief Operating Officer, Tech Mahindra said, “Employment and skilling are important pillars of a growing economy. The government’s sustained focus on prioritizing skilling and employment is a commendable step towards enhancing human capital and creating job opportunities for the youth. In today’s rapidly evolving world, skill development is critical, and the government’s commitment to training 20 lakh young people over the next five years will help them in the job market and foster job creation nationwide, beyond the Tier-1 cities. This initiative aligns with the industry’s increasing demand for a workforce equipped with contemporary skills. Further, the expansion of skill development programs to Tier-2 and Tier-3 cities resonates with the government’s vision of ‘Vikshit Bharat 2047’. These cities are emerging as talent hubs and will contribute to long-term growth and the creation of local employment opportunities. It will also strengthen the pace of infrastructure development and scale the R&D initiatives in the country.”
Archana Jahagirdar, Founder & Managing Partner, Rukam Capital, said, “We applaud the Hon’ble Finance Minister for abolishing the Angel Tax in the Union Budget presented today. The removal of this tax, which had raised major concerns among foreign investors regarding startup investments in the country, has been a long-standing demand of the startup ecosystem. This announcement provides much-needed relief and paves the way for further growth in this burgeoning sector. Additionally, the introduction of the credit guarantee scheme for MSMEs, the self-financing guarantee fund with a guarantee cover up to ₹100 crore, and the increase in the limit of Mudra loans to ₹20 lakh from the current ₹10 lakh are crucial supportive measures. These initiatives will significantly help entrepreneurs by easing access to finance, fostering innovation, and driving economic growth. We are optimistic that these steps will create a more conducive environment for startups and MSMEs to thrive.”
Dr. Yajulu Medury, Vice Chancellor, Mahindra University, said, “An increase in the budget allocation for the education sector is a positive development. It indicates a commitment to make education more affordable and accessible. Many private institutions already support research-based education through substantial subsidies. The new internship scheme could also encourage industries to offer paid opportunities, addressing the issues of unpaid internships. While this budget reflects a hopeful step towards stabilizing and enhancing education, especially after the challenges posed by the pandemic, we look forward to more support in research and competency-building.”
