As the Union Budget 2024 presentation by Finance Minister Nirmala Sitharaman approaches, many industry leaders have shared their expectations and suggestions. Among them is Radhika Gupta, CEO of Edelweiss Mutual Funds and a judge on Shark Tank India, who took to Instagram to outline her key hopes for the upcoming budget.
In her Instagram video, Radhika Gupta emphasized the crucial need for increased capital expenditure and infrastructure development. “We all know how much infrastructure India needs, and every rupee spent on infrastructure and capital expenditure has a multiplier impact on our economy,” Gupta stated. She highlighted that significant investments in infrastructure not only improve the country’s physical framework but also generate employment and stimulate economic growth. Gupta believes that robust infrastructure is the backbone of a thriving economy and is essential for India’s long-term development.
Gupta’s second priority is employment, with a particular focus on youth employment. “Our biggest demographic advantage is our young people, and we need to provide them with skills and jobs over the next few years and decades,” she added. With a large and growing youth population, India has the potential to harness this demographic dividend by creating job opportunities and investing in skill development. Gupta stressed the importance of government initiatives that can bridge the gap between education and employment, ensuring that young people are equipped with the skills needed in today’s job market.
The third point on Gupta’s wishlist is the stability of capital markets. “A lot of money has come into equity markets via direct stocks and mutual funds into SIPs, and we need to ensure an environment of stable taxation,” she remarked. Gupta called for policies that provide stable and predictable taxation for investors, particularly those participating in Systematic Investment Plans (SIPs) and direct stock investments. She also advocated for incentives that encourage young people to continue investing, suggesting that a stable and supportive tax environment would foster greater participation in capital markets from every household.
Gupta’s wishlist for the Union Budget 2024 reflects a balanced approach that prioritizes immediate economic needs while also laying the groundwork for sustainable long-term growth. By advocating for infrastructure development, she acknowledges the need for foundational improvements that can support other economic activities. Her emphasis on employment underscores the critical need to address the aspirations of the country’s youth, ensuring they have the opportunities to contribute productively to the economy. Finally, her focus on market stability and supportive taxation policies aligns with the goal of creating a more inclusive and robust financial ecosystem.
Radhika Gupta’s insights offer a comprehensive perspective on what is required for India’s economic growth and stability. As the country awaits the Union Budget 2024, her emphasis on infrastructure, employment, and market stability highlights the areas that could significantly impact India’s economic landscape. Gupta’s forward-looking approach serves as a valuable guide for policymakers aiming to address current challenges and unlock future potential.
