Budget Expectations 2024

Budget Expectations From Kaspersky India

Jaydeep Singh
Jaydeep Singh, General Manager for South Asia at Kaspersky

“The Union Budget 2024 should focus on cybersecurity, which could help deploy proactive cybersecurity strategies, foster sector collaboration, and implement innovative defences against cyberattacks. Kaspersky remains dedicated to collaborating in building India’s cybersecurity capability this year and beyond.”

Jaydeep Singh, General Manager for South Asia at Kaspersky

Budget 2024 is round the corner. Although, it’s going to be an interim election year budget, the budget has raised lot of expectations in various industry corridors and the IT industry is no exception. The union budget, which is all set to be announced on 1st Feb 2024,  is anxiously awaited by the captains of the IT Industry. For the benefit of our readers, we are presenting some of the important voices, reflecting the hopes and expectations of the industry from the upcoming budget.

Here is what Jaydeep Singh, General Manager for South Asia at Kaspersky, expects from the upcoming budget:

“The previous Union Budgets have shown India’s dedication to boosting its cybersecurity infrastructure. We expect the same commitment in 2024 as the local threat landscape continues to evolve.

It is foreseen that India’s enterprise technology sector will contribute $350-400 billion in the next few years, advancing the country toward its $1 trillion digital economy goal. This will be driven by the continuous mass adoption of digital financial tools and will be further enabled by the multi-year artificial intelligence (AI) programme recently unveiled by the government.

Cybercriminals, on the other hand, will also ride along these trends. For instance, our advanced detection systems discovered an average of 411,000 malicious files daily last year, with an increase of nearly 3 percent in 2023 compared to the previous year. This year, we also anticipate enhanced financial threats as attackers use advanced artificial intelligence and heightened automation. As we navigate the evolving cyberthreat landscape, it becomes crucial for the Union Budget 2024 to focus on cybersecurity, which could help deploy proactive cybersecurity strategies, foster sector collaboration, and implement innovative defences against cyberattacks. Kaspersky remains dedicated to collaborating in building India’s cybersecurity capability this year and beyond.”

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