Budget 2024: From tech innovation to infra development, key expectations from the government
Budget 2024 approaches, anticipation is building across various sectors in India. Each year, the budget sets the stage for economic policies and resource allocations that significantly impact the country's growth trajectory. This year, there is a heightened focus on how the budget will address key areas such as technological innovation, infrastructure development, and social welfare.
Industry expectations
Vijay Navaluri, Co-founder & Chief Customer Officer, Supervity, highlights the AI sector's optimism for policies that will further stimulate growth and innovation. He underscores the importance of the government's continued support for AI and related technologies to drive the industry forward. Navaluri expects the budget to prioritize investments in AI, particularly in enhancing AI-based education and skill development through partnerships between educational institutions and industry. This, he believes, will ensure a steady pipeline of skilled professionals who can contribute to various sectors, including healthcare, agriculture, and urban planning.
He also anticipates the implementation of Public-Private Partnership (PPP) models and the establishment of regulatory bodies to ensure ethical AI usage. Financial incentives and tax deductions for AI startups, along with increased funding for R&D, are expected to boost innovation and the growth of the AI ecosystem in India.
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