Here’s what the Industry Corporates Expect for Budget 2023

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The countdown has began. from corporate to the common man, everyone is looking forward to the much-awaited Union Budget 2023-2024. The budget would be the most challenging one that Finance Minister Nirmala Sitharaman would be tabling in Parliament on February 1, 2023. The announcement will not only have to lay the roadmap for India’s growth momentum while the world is dealing with ongoing inflationary pressure, global recession, and monetary tightening. It is also crucial because it would be Centre’s last full year Budget ahead of the Lok Sabha elections in 2024. Hence, it keeps the government at the steering wheel to push economic growth to a new level.

Like every year, the budget this year will also see important announcements of new PM schemes being launched with new budgetary allocations. While the government decisions at the end would be only public on February 1, but there are a host of things that this budget is expected to address. So, here are some of the expectations by the Industry experts regarding Union Budget 2023-2024.

 

Mahesh Kulkarni, Co-Founder, and MD, AFour Technologies, an ACL Digital Company, said, “With the alarming increase in cyber attacks over the last few years, Indian companies are prioritizing cybersecurity as a part of their digital transformation plans. The goal now is to develop smart, agile strategies that can be adapted to the evolving sophistication of cyber-attackers as well as changes in compliance laws. This calls for two things – extensive knowledge of cybersecurity and the skill set to develop flexible solutions, along with a reasonable budget to prepare and deploy security plans. We’re confident that the new budget will reflect increased funds to build the necessary cybersecurity awareness through training initiatives as well as focused IT skill-building. Given how rapidly technology is evolving, an investment in IT talent will enable organizations to be more agile on the business front, too – a critical asset if India is to fulfill its goals of becoming the go-to global tech and manufacturing hub in 2023. Last but not least, continuous testing will be vital to spot and rectify vulnerabilities before they reach threatening levels.”

 

 

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