As the nation eagerly awaits the unveiling of the Budget 2024, Nikhil Sawhney, President of All India Management Association (AIMA), and Vice Chairman and Managing Director (MD) of Turbines Ltd. has shared his perspective on the key sectors that seek attention. In response to Fortune India's questions, AIMA’s president shed light on critical areas that can shape India's economic trajectory.
Prioritise educational infrastructure
Sawhney pointed out the pivotal role of the education sector in securing the economic future of the nation. With a keen eye on the forthcoming budget, he ptiched for a substantial increase in government spending on school, university infrastructure and faculty. Moreover, he also called for incentivising entrepreneurs and innovators to enhance the accessibility, affordability, and acceptability of high-quality, conceptual and professional education to everyone resonates as a strategic move towards holistic development.
Policy changes for a cleaner, greener, and inclusive economy
In its vision for the budget, the president of AIMA suggested policy changes aimed at fostering a cleaner, greener, and more inclusive economy. In anticipation of the forthcoming budget, he wants the budget to strike a balance between swift economic expansion and a more equitable distribution of opportunities across diverse sectors, regions and social groups.
Skill development and management education
Turbines Ltd. MD acknowledges the efforts in previous budgets to boost skill development and education, particularly in the management sector. However, he contends that much more needs to be done to elevate India's management capabilities on a broader scale. “The budget needs to provide more funding and a substantial policy impetus for world-class management education,” Sawhney says.
Push for public, private digital infrastructure
The AIMA's president says that India needs to continue building the foundational elements of economic activities. He urges a shift towards environment and health-friendly infrastructure technologies. Additionally, AIMA advocates a robust push for both private and public digital infrastructure, steering the economy towards a seamless transition to the digital era.
International collaborations to boost economic growth
Sawhney calls for budgetary incentives and policy encouragement for fostering international collaborations between Indian and foreign education providers. AIMA recognises the significance of world-class education and graduates in propelling India's future economic growth. “Having world class education and graduates is central to the Indian economy's future growth,” he adds.
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