Slow growth in IT Sector in 2024-25: Economic Survey

Union Finance Minister Nirmala Sitharaman introduced the economic survey for the 2024-25 financial year in Parliament. The IT sector witnessed slow hiring in the last financial year, with expectations of modest rather than significant growth in recruitment this year.

For the first time in many decades, major companies reported a significant decline in their headcounts in this economic survey. Tech body NASSCOM stated in February that only 60,000 IT jobs are projected for this financial year, a stark contrast to the 270,000 jobs created in the previous financial year.
To address this situation, participating in government-initiated incentive programs could stimulate growth in the business and IT industries.
 

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