Union Budget 2025 | Telecom sector looking forward to investments in digital infra, says TeamLease Services COO

The Union Budget for the upcoming financial year is all set to be presented on February 1, 2025, by Finance Minister Nirmala Sitharaman. According to reports, the Narendra Modi government may consider slashing income tax for individuals earning up to Rs 15 lakhs per annum and extend the tax relief bracket in a bid to provide relief to the middle class and boost consumption.

Various sectors have already put forth their expectations from the upcoming budget. Speaking on behalf of the telecom sector, Subburathinam P, Chief Operating Officer of TeamLease Services, stated that there was a need to expand digital infrastructure across various domains, and as such, the sector requires strategic investments.

“The telecom sector requires strategic investments to expand digital infrastructure, particularly in governance, education, and healthcare. Skilling the workforce in AI and advanced telecom technologies will be crucial, with an emphasis on preparing a substantial segment of the workforce for future-ready roles by FY26," he said.

On taxes, he said, "There are expectations for tax benefits aimed at data centers and other digital infrastructure to further the "Digital India" vision, potentially including tax holidays or concessional rates to attract foreign investments and drive job creation."

Lastly, speaking on the sector itself is likely to focus on, he said, "Telecom companies will focus on harnessing data and AI to streamline operations, reduce costs, and enhance personalized customer experiences, necessitating significant investment in building a strong data infrastructure.”