New Delhi, January 23, 2024.
The government will target a lower deficit in the 2024-25 fiscal year despite lifting capital expenditure to an all-time high, according to a Reuters poll of economists who said infrastructure investment would be a priority.
Mohan Lakhamraju, Founder, Great Learning said” “With technological advancements happening every minute, relying just on a college education is not enough for the Indian youth. They will have to keep updating and upskilling themselves to utilise their full potential in strengthening our economy. Removal or Reduction of GST rate from upskilling programs in the upcoming Union Budget will help solve this by democratising access to quality education, fostering innovation and employability. Formalising the edtech sector and streamlining operations through regulations and policies instils confidence among stakeholders, fostering an environment conducive to growth. These changes ultimately align with the national goal of developing a more responsive education system, equipping the workforce in this knowledge-driven economy to meet the evolving demands of the job market.”
Raj K. Gopalakrishnan, Co-founder and CEO, KOGO Tech Labs believes that the Union Budget 2024 will play a crucial role in setting that ball in motion and expects to see some innovative initiatives and policies that can accelerate and catalyze the sector.
“The potential for AI to transform India’s Travel & Tourism industry and ecosystem is increasingly evident. However, for India to rise up the World Tourism Ranks ( Currently at 54th), there needs to be significant improvement. India lags behind its Asian counterparts with just 1,60,000 branded hotel rooms. While the challenges are apparent, so are the latent opportunities and potential. With the help of Technology and AI, India can truly leverage its diverse landscape across the nation to create one of the largest networks of B&Bs and Homestays and bring them into the hospitality funnel. After all ‘Atithi Devo Bhava’ has been our mantra for many millennia.
“AI’s multiplier effect has proven to be exponential on the Travel sector. Generative AI has been a game-changer, and we are revolutionizing travel planning and experiences with our in house models. At Kogo, our AI assistants are continuously evolving and offer real-time support, from booking hotels to suggesting local experiences, eliminating the need for time-consuming customer service calls. AI’s dynamic pricing algorithms are analyzing market trends, providing competitive deals on flights and accommodation, ensuring accessible and personalized travel options for all.
“We foresee the Budget 2024 as announcing strategic investments and a comprehensive approach towards AI and AI’s application in Travel. Investments in public-private technology partnerships; allocation of resources for collaborative initiatives between key stakeholders and strategic funding to support AI-driven tourism models, digital infrastructure, and AI literacy are some of the things that we hope Budget 2024 will delve into,” he said.
