“As India anticipates the interim budget, we are optimistic about the government’s commitment to constructing a robust digital infrastructure and supporting the Indian middle-class & salaried employees. Technologies such as cloud-based solutions, Generative AI, and scalable IT infrastructure have a crucial role in shaping the trajectory of India’s HR industry. It is imperative for the legislation to build policies and allocate more funds to match the pace of emerging new-age technologies as cyber threats remain a concern on a global level.

India is heading towards a big Techade as we push for a $10 trillion economy by filling global talent voids. Employability has risen to 50.3%, making India a leading source of high-skilled talent (from 45.9% in 2021 to 50.3% in 2023 – as per India Skills Report 2023).

We are looking forward to initiatives that will focus on:

• Building a robust supply chain for Digital Tech Talent by fortifying educational infrastructure through initiatives like Skill India and Karmyogi Bharat.
• Promotion of skill-based education and effective talent management.
• Leveraging the full potential of technology by incentivizing organizations to digitize HR operations; nurture talent from Tier II and III cities and embrace the gig workforce.

In addition, tax relief, increased 80C limits, and reduced taxes on ESOPs are advocated for workforce attraction and retention. The salaried workforce is looking forward to tax relief by HRA and health insurance exemptions.”