‘Budget is focused on driving benefits for the country’s workforce’
Ajay Kolla, the founder and chief executive officer of wisdomjobs.com is upbeat about the NDA government’s budget for 2017.
“It is really encouraging to see a budget that is focused on driving benefits for the country’s workforce in the long-term. I feel the focus on developing a skill-ready workforce will be key to generating more job opportunities in the future,” says Ajay Kolla.
“The allocation of funds for skill development and extension of the Skill India mission to 600 districts and 100 India International Skills Centres will ensure that talent is tapped from tier 2, 3 and 4 cities as well. Also, the abolishing of FIPB and easing of FDI is likely to bring in more investments into the country, and lead to an increase in jobs,” he tells.
The focus on 100% village electrification and ensuring high speed internet availability to 1,50,000 gram panchayats will assist in improving the availability of employable candidates in the coming years. I also hope that the reduction in the Income tax rate for lower income groups will boost the economy due to an increase in disposable income and consequently in the spending power of this group.
“The reduction of 5% in corporate tax for companies with revenues upto INR 50 Crores of revenue is really a welcome move for the SME sector which would be able to increase spends on R&D and human capital,” Ajay adds.