Every year budget of the country plays the crucial role in different segments of the work and their growth and so is the tech industry in terms of the budget as budget helps them in their growth and also helps them in bringing the new tech in the country because at the end of the day all industries have to work as per the governance of the Government in the country.
Budget 2024 with respect to tech sector:-
While the entire country's eye was on budget 2024 the tech sector was looking forward to booming in 2024 with the budget in their favor for their growth and desires to achieve and the Government of India did it well in their expectations for helping their sector raise more. Few of the things which came in this year budget are:-
1. More employment and entrepreneurship opportunities for the video gaming, graphics segment have been given to boost this segment of the tech industry. Also, the focus has been laid on the incentives in this sector to the employees.
2. The focus has been laid on Artificial Intelligence tech for the development of this tech and also been said that proper education should be provided over this tech for boosting this tech.
3. The Government of India has relied on the fact that due to the tech sector there has been good growth seen in the gross domestic product of the country and therefore, the Government of India wishes to give their proper initiative and support in this technology for the growth of the country.
4. Giving their proper initiative and desire in their industry The government of India has reduced the GST rates on the electronics gadgets, tech based startups and tax incentives which is a major play for the tech sector in the year 2024 and will help in boosting the tech industry at great level.
5. The Government of India is also working towards the R&D funding in the tech sector as per the need of this in the particular segment of tech which can outline the tech industry more and therefore, providing the funding to the AI system in defense, sustainable development in public transport and so on.
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