Union Budget 2024-25: Empowering India’s Future Through Education and Investment

The Union Budget 2024-25 focuses on skill development, higher education, and youth and women empowerment, according to SICCI. Chairman Neil Parekh commended the budget, highlighting Rs 1.48 lakh crore allocated for education, job training, and industrial development. The budget also introduces investor-friendly measures like the abolishment of the Angel tax and reduction in corporate tax for foreign companies.

The Union Budget 2024-25 is a significant milestone for India. Focusing on skill development, higher education, and empowering youth and women, this budget was lauded by the Singapore Indian Chamber of Commerce and Industry (SICCI) on Wednesday.

SICCI Chairman Neil Parekh praised the latest financial package designed to drive the Indian economy forward. 'These initiatives are crucial in preparing the Indian citizenry to tackle the economic challenges of the future,' he commented.

'SICCI commends these efforts announced by India's Finance Minister Nirmala Sitaraman, under the leadership of Prime Minister Narendra Modi, for their foresight in preparing the younger generation to take India to even greater heights,' said Parekh. The Budget has allocated Rs 1.48 lakh crore for education, employment, and skill development, demonstrating the government's commitment to upgrading 1,000 industrial training institutes and creating better employment opportunities.

Additionally, SICCI is eager to collaborate with various training institutes to improve their facilities. With experience in running educational institutions, SICCI members are ready to share their expertise to help these training institutes become future-ready for the evolving economic landscape. Parekh also expressed excitement about the proposal to develop 12 industrial parks.

Parekh added that investor-friendly measures in the Budget, such as the abolishment of the Angel tax and the reduction of the corporate tax rate for foreign companies, will further enhance India's appeal as an attractive destination for global investments. This is significant in a competitive global market.

(With inputs from agencies.)