Skill development can support economic growth
hile the major highlight of the budget was the big push on agriculture and rural India, the Finance Minister has also recognised the important role played by good quality infrastructure and skill development in supporting economic growth and India’s overall development.
The plan of ‘Make in India’ can get derailed without adequate supply of top-notch manpower, therefore an allocation of Rs.1,804 has been made towards skill development. It further announced plans to set-up 1500 multi-skill training institutes, and tie-up with industry and academia for the creation of National Board for Skill Development Certification. The initiative to alter customs and excise duty rates on certain inputs to reduce local manufacturing costs and increase competitiveness of domestic industry is definitely a positive move.
— Dr. Michael Thiemann, CEO Thyssenkrupp, India