 "Budget 2018: Note ban, GST raise hopes of radical steps by FM Arun Jaitley")
The upcoming Budget 2018, which Finance Minister Arun Jaitley will present on February 1, is expected to be more significant than other recent ones, especially as it is coming after a year full of radical reforms by the Narendra Modi government such as demonetization of high-value currency notes, implementation of the goods and services tax (GST) and a new bankruptcy regime.
The year 2017 ended on a high with gross domestic product (GDP) growth in the July-September quarter standing at 6.3%, indicating the significant impact of the two structural reforms — GST and demonetisation — is now behind us and, hopefully we could expect an upward growth in 2018.
I am hopeful that this year, too, there will be a thrust on skill enhancement to aid job creation. This would us leverage our demographic dividend more effectively.
Technological disruptions in the form of artificial intelligence and machine learning are a reality now, and they have been shaping the narrative of India’s recent economic growth and digital transformation. So, if we truly need to change the game, there needs to be a singular focus on rolling out initiatives to boost the adoption of technology for education and skilling, and infusing a new breath of life into our vocational education courses to meet the aspirations of new India through public-private partnerships.
There are hopes from the central government to further the revival of the economy. Through initiatives like the ‘Make in India’ programme, it has not only boosted the confidence of local businesses, but also increased the room to facilitate more exports from the country. This will, in turn, also support creation of jobs in the manufacturing and infrastructure sectors, strengthening the backbone of our economy.
The author is the managing director of Monster.com for Asia-Pacific and West Asian regions
The year 2017 ended on a high with gross domestic product (GDP) growth in the July-September quarter standing at 6.3%, indicating the significant impact of the two structural reforms — GST and demonetisation — is now behind us and, hopefully we could expect an upward growth in 2018.
I am hopeful that this year, too, there will be a thrust on skill enhancement to aid job creation. This would us leverage our demographic dividend more effectively.
Technological disruptions in the form of artificial intelligence and machine learning are a reality now, and they have been shaping the narrative of India’s recent economic growth and digital transformation. So, if we truly need to change the game, there needs to be a singular focus on rolling out initiatives to boost the adoption of technology for education and skilling, and infusing a new breath of life into our vocational education courses to meet the aspirations of new India through public-private partnerships.
There are hopes from the central government to further the revival of the economy. Through initiatives like the ‘Make in India’ programme, it has not only boosted the confidence of local businesses, but also increased the room to facilitate more exports from the country. This will, in turn, also support creation of jobs in the manufacturing and infrastructure sectors, strengthening the backbone of our economy.
The author is the managing director of Monster.com for Asia-Pacific and West Asian regions
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%