Budget 2023: 100 5G Labs to Boost Employment, Income Tax Rebate till Rs 7 Lakh
In The News

Budget 2023: 100 5G Labs to Boost Employment, Income Tax Rebate till Rs 7 Lakh

Finance Minister Nirmala Sitharaman announced the Union Budget 2023 today. Ahead of the 2024 General Elections, the government has given a big relief to the tax-paying salaried professionals. Last year, there weren’t any gifts for the same category in the budget but this year, FM ensured that their woes are addressed at least from the point of view of income tax payouts. A salaried employee will have to pay no taxes up to Rs 7 lakh per annum in the new tax regime. The budget also put a lot of emphasis on emerging technologies like 5G, IoT and more.

5G rollout is getting a push for a while now and with FM’s announcement of 100 labs in the top engineering institutions to develop apps compatible with the new tech, this will soon reach a fever pitch. Finance Minister Nirmala Sitharaman announced, “To realise new opportunities, business models and employment potential, the 5G labs will cover applications such as smart classrooms, precision farming, intelligent transport systems and healthcare applications.”

5G was taking long strides in the job market as well with an Indeed report suggesting telecommunications and 5G tech jobs have increased by 33.7% between September 2021 and 2022. This announcement will further accelerate the need for talent in this space.

Read our complete report on how 5G adoption has led to a job surge in India.

The mobile manufacturing industry has already developed its strategy to employ 5G talent. In an interaction with All Things Talent, Priyanka Anand, Vice President & Head, Human Resources – South East Asia, Oceania & India, Ericsson revealed the requirement will be to build professional expertise and an in-depth understanding of the technology. “We will need to borrow from other parts of Ericsson, build from the campuses, build internally, and acquire from the market. Our strategy is to make full use of these technologies by using a mix of our existing workforce, which will be reskilled and upskilled, tying up with universities and hiring people from the campuses, and hiring people from the market as well as our global talent pool.”

Read on to know what are the key skills that Ericsson is looking for in the 5G talent space. 

The budget has provided hope for job seekers who have an interest in joining the telecom sector and for the latter to contribute to job creation in a big way.


Leave a Reply


Click on allow to subscribe to notificationsStay update with the latest happenings on out site