By Kuljeet Singh, CFO, GI Group Holding, on the expectations from Budget 2026 for your kind editorial consideration.

With the upcoming Union Budget on February 1, the employment staffing ecosystem in India keeps its fingers crossed in anticipation of some stern actions by the Government to encourage more employment opportunities in a more organized manner. In anticipation of the budget, the Indian Staffing Federation has requested the Finance Ministry to decrease its GST rate on employment services from 18% to 5%, which is a very valid point in support of reducing employment compliance and in alignment with overall employment opportunities in the country.

We further anticipate the targeted policies that would empower employees and businesses as well. This would, of course, include the current rise in the interest rate offered in provident fund accounts, which would translate into better savings and retirement benefits for millions of employees, bolstering the social safety net at the right juncture. Looking at the tax and savings reform packages, we certainly await considerable allocations for the enhancers of employability, namely increased allocations for training and development, as well as measures which would encourage the concerted efforts of the government and players in the private sector, particularly in the domain of training and development.