Union Budget 2020 Expectations: Rebate in corporate tax, boost in employment opportunities top agendas


India Inc. is keenly looking forward to Union Budget announcement for FY 2020-21 on February 1, 2020. This Budget will be a ‘make or break’ deal for the government who is wooing corporate houses desperately. Year 2019 was a rocky ride for the economy and the country witnessed a dip in the GDP growth, subtle employment opportunities and faltering consumer demand. India’s finance minister, who will announce her second Union Budget on February 1, 2020 will present the fiscal document among huge industry expectations.

To understand the sentiments of the India Inc. TimesJobs spoke to various industry experts on their expectations from this year’s budget. Here’s their view:


Sanjay Goyal, Business Head, TimesJobs & TechGig says
, “Last year established the adoption of new-age technologies like AI, Cloud Computing, Machine Learning and more. The dearth of the skilled workforce was the key factor in the slow transition and acquisition of change. On job training and promotion of certain courses on educational level should be a key focus in 2020. Also, the government needs to level up more on the employability of the available workforce through investments in relevant skill/vocational training”.

“Currently, the pressing issue is of job creation and the upcoming budget needs to drive job growth. Enabling startups and MSME’s with tax exemption and more infusion of funds would boost the sector and create more jobs across industries. With the emergence of new job roles and demand for new skill sets, the budget will also need to closely look at allocating more funds for skilling and creating a skilling ecosystem which is relevant for future requirements”, says
Neeti Sharma, Senior Vice President, TeamLease Services.

Rahul Garg, CEO & Founder – Moglix says, “As an enabler of technology-driven procurement, we are looking forward to economic reforms that facilitate easier capital injection and business credit for manufacturing enterprises, bring stability & rationalisation to GST implementation, and introduce incentives to boost manufacturing. We are hopeful about gaining greater clarity on the national e-commerce policy framework”.

“Direct Tax Reform will be a big focus for this year’s budget. Hence, it will be imperative to ensure that consumers’ i.e. salaried individuals enjoy greater spending power and higher take-home salaries. The best way to get consumers to spend more is to provide them avenues within the compensation structure wherein they get tax-saving benefits towards expenses they would otherwise hesitate to make, either on their professional development or for enhancing their quality of life”, says
Suvodeep Das, Vice President Sales & Marketing, Sodexo Benefits & Rewards.

Vivek Kumar, MD, Springboard India says, “An upskilling fund is the need of the hour today to battle the skills gap created in India by emerging technologies such as AI / machine learning. A corporate obligation towards upskilling incentivised by the government will ensure that human resource in the country are skilled in emerging technologies while energising the workforce and eliminating any and all fears for the future”.



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