You have supported various groups, such as the start-up sector, through this Budget. However, the middle class feels let down.
There are considerable benefits for the middle class in this Budget, particularly in terms of tax reliefs on salaries and changes in income tax slabs. Additionally, several other schemes have been announced, including education loans for those who do not otherwise receive benefits under existing government schemes. This will cover the entire residual middle class.
Skilling loans and the new internship programmes are among the initiatives that will benefit the middle class. Overall, the middle class has received significant support from this Budget.
How do you plan to utilise the underperforming labour-intensive sectors to create 8 million jobs a year? An estimate suggests that we are creating 4–5 million jobs annually.
The answer to your question lies in the way you have formulated it. You mention that labour-intensive sectors need more support. The fact that our three new schemes are entirely targeted at the amount of labour employed means that these sectors have a comparative advantage.
The more labour-intensive you are, the more benefit you will get from these schemes. These are not schemes based on investment or production subsidies. If you are an MSME [micro-, small- and medium-enterprise], in footwear or in textiles, you will automatically benefit more from these schemes due to their designs. The idea is to support sectors that employ more labour.
Bu hikaye Outlook Business dergisinin August 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Outlook Business dergisinin August 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
'Automation is Redefining Efficiency and Precision in Jewellery Manufacturing'
Increasing brand consciousness and awareness among consumers is helping expand the organised jewellery retail industry. MP Ahammed, chairman of Malabar Group, discusses prominent trends in the jewellery industry
BATTLE TO WIN THE AI RACE
In Supremacy, Parmy Olson tells the astonishing and behind-the-scenes story of the battle between the world’s two leading artificial intelligence firms, OpenAl and DeepMind and the continuing rivalry of its founders Sam Altman and Demis Hassabis respectively
A LEADER WHO EMPOWERS
Anshul Arzare, MD and CEO of YES SECURITIES, wants to ensure a workplace where employees not only contribute to the company's vision but also feel content
EV Unplugged
Electric vehicles are crucial to India’s climate change plan. But reliance on China for imports and technology constraints remain hurdles the sector needs to overcome
Every Lamborghini Owner is a Brand Ambassador
Regional director of Automobili Lamborghini, Francesco Scardaoni, talks to Prachi Khanna about the brand’s approach to fostering a sense of community among its vehicle owners. Edited excerpts
NO ZEST FOR ZED
A government initiative to green MSMEs is not finding enough takers
SMALL PLANTS, BIG TROUBLE
Climate-triggered stress is placing an unprecedented burden on small businesses. But a lack of access to climate aid hinders the sector's ability to adopt greener methods
'We Think About the Rider More Than Any Other Company
Rapido co-founder Aravind Sanka talks to Neeraj Thakur and Deepsekhar Choudhury about how flexibility and fair pay helped his company disrupt the Ola-Uber duopoly. Edited excerpts
LABOUR PANGS
Rising cost of living in a fast-growing economy is making workers restless
'Hustle is No Virtue'
It has become fashionable to talk about the verb “hustle” these days, especially in professional settings.