This week’s wrap is a budget special covering all proposals and allocations made by Finance Minister Nirmala Sitharaman for the IT sector. Going by the Finance Minister’s words, she said that the Union Budget is to boost the income of people and enhance their purchasing power. Adding the fact that the proliferation of new technologies like Artificial Intelligence and Machine Learning is at the backdrop of Union Budget 2020-21.
Here are your takeaways:
5 new smart cities to be set up
- Developed by state
- Private partnership mode
Rs. 8000 crores allocated for quantum technologies
- Under ‘National Mission’ over 5 years
- Implemented by the Department of Science and Technology
Government e-Marketplace (GeM)- an online marketplace
- Single platform for procurement of goods, services, and works
- To become more than Rs. 3 lakh crore market
Policy for Data Centre Parks throughout the country
- Allows private sector to build data centre parks
- Inviting for foreign investment in all sectors
Domestic Manufacturing of Electronic Devices
- Under Make in India initiative, manufacturing of electronic devices encouraged
- Boost the domestic manufacturing sector and attract foreign investment
BharatNet gets 6000 crores to boost internet connectivity
‘Ayushman Bharat’ scheme to eradicate TB with AI and ML
‘Nirvik’ scheme for ‘digital refund’ of duties to exporters
Degree level Online education to be offered by 100 institutes
Support for R&D, technology upgradations and business strategy
Read in detail:
https://www.expresscomputer.in/news/budget-2020-what-finance-minister-offers-the-technology-industry/46070/
You can also watch the above video on YouTube here