Budget 2025 Expectations Live: Support professional staffing firms’ growth
“As we look forward to the 2025 budget, I would like to commend the government for its previous budget’s emphasis on skill development, which is crucial for enhancing India’s workforce capabilities. The focus on equipping individuals with the necessary skills is a step in the right direction, but we must now build on this foundation by creating more opportunities for job creation and staffing manpower across various sectors.
Last financial year, the taxation on short-term capital gains for listed equity shares, units of equity-oriented funds, and units of business trusts was increased to 20% from 15%. The government should reverse this change, as the risks associated with the stock market are currently high, compounded by other lucrative investment options. In the context of reducing disposable income and a shrinking middle class, this reversal would help stimulate reasonable activity in the stock market.
There is a pressing need for a robust staffing ecosystem that can adapt to the rapidly changing demands of industries such as Information Technology, Healthcare, and Manufacturing. To achieve this, we urge the government to implement policies that speed the collaboration between educational institutions and industries, ensuring that graduates are job-ready and equipped with relevant skills.
Furthermore, investing in initiatives supporting professional staffing firms’ growth will not only enhance employment opportunities but also contribute to economic stability. By prioritizing job creation and workforce development in this upcoming budget, we can empower millions of individuals while driving sustainable growth across the nation,” says Gauravv Mittal, CEO and Managing Director, ITCONS e-Solutions Limited.
