New Delhi The National Democratic Alliance (NDA) administration, which took power following the Lok Sabha elections, will deliver the comprehensive budget for the fiscal year 2024-25 in Parliament on Tuesday. Earlier on Monday, Finance Minister Nirmala Sitharaman delivered the Economic Survey 2024 in Parliament.
All set for the FIRST BUDGET of MODI 3.0!
Union Finance Minister Smt. @nsitharaman reaches Rashtrapati Bhawan and seeks nod of President Smt. Droupadi Murmu for the Budget 2024. #BudgetForViksitBharat pic.twitter.com/INb8mdq3v9
— BJP (@BJP4India) July 23, 2024
 AI Technology and Job Creation in Budget
This study includes an essential note regarding artificial intelligence, or AI technology, which is currently in full swing. Finance Minister Nirmala Sitharaman discussed the possibilities of creating large-scale jobs in India as a result of AI technology. As a result, the NDA administration is poised to make a big investment in AI technology. This could have an impact on Indian AI businesses and the industry as a whole. So we’ll have to watch what Nirmala Sitharaman says regarding AI technology in today’s budget (Budget 2024).
What Does The Financial Inspection Report Say?
Overinvestment in artificial intelligence, particularly in a lower-middle-income nation like India, might be hazardous. According to an economic study research, if AI technology is used more widely in India in the future, there will be significant uncertainty in all forms of skill-based occupations. AI technology will undoubtedly improve productivity. However, this may have a detrimental effect on the employment sector. AI technology will fundamentally alter the way work is done. However, the new technology has caused fear and uncertainty among workers across all sectors, according to the Economic Intelligence Survey.
Negative Impact On Economic Growth
The Economic Survey report predicts that India’s growth rate will be between 6.5 percent and 7 percent in the fiscal year 2024-25 due to inflation caused by global volatility. India’s growth rate would be lower than last year. According to the economic survey report, the reasons contributing to this are international conditions, agricultural decline, and unemployment. In that regard, we have to wait and see what is announced in this year’s budget.