As the Union Budget 2025 is set to be presented on February 1, expectations are high for initiatives that could create new employment opportunities. Industry experts believe the government should focus on investments in infrastructure, the hospitality sector, startups, edtech, and MSMEs to foster employment and skill development. Finance Minister Nirmala Sitharaman will unveil the General Budget 2025 in the Lok Sabha on February 1.
Hospitality Sector Expectations
Industry Status for Hospitality
Manbir Chaudhary, CMD of Noormahal Group, highlighted the critical role of the hospitality sector in generating employment and boosting the economy. He emphasized that granting “industry status” to hospitality could improve access to finance and enable the sector’s growth.
Focus on Regional Tourism
Chaudhary urged the government to allocate funds for infrastructure development in tier-2 and tier-3 cities, promoting regional tourism and contributing to India’s goal of becoming a developed nation by 2047.
Startup Sector: A Call for Support
Easing Investment Rules
Gaurav Gaggar, founder of T9L Cube, pointed out that while removing the angel tax was a significant step, more initiatives are needed to ease foreign investment and improve credit access. He also stressed the importance of prioritizing research and development to drive innovation.
Expanding Tax Benefits
Aman Dhall, angel investor and founder of Comscredible, suggested that the budget should revamp the ‘Startup India’ program. He highlighted the limited impact of tax exemptions under Section 80-AIAC, which currently benefit only 1% of recognized startups. Dhall advocated for simplifying processes and expanding these benefits to more startups.
Skill Development and Emerging Technologies
Focus on AI and Data Science
Naman Jain, education policy expert and vice president of Silverline Prestige School, recommended investments in skills related to emerging fields such as AI, data science, and renewable energy. He noted that unemployment persists due to a lack of skilled workers, and enhanced training programs could support sustainable economic growth.
Achieving Economic Goals through Skill Development
Gagan Arora, founder and CEO of Vertex Global Services and trade commissioner of the India-Africa Business Council, referred to an MNCI study suggesting that job creation and skill development are crucial for India to achieve its GDP growth target of 7–8% annually. Arora urged the government to prioritize these areas to help India become the third-largest economy by 2030.
Conclusion
The Union Budget 2025 is expected to address key areas such as startups, infrastructure, and skill development to drive employment and economic growth. With strategic investments and reforms, experts believe these initiatives could position India on a trajectory toward sustainable development and prosperity.
