Technology Budget 2022: Key Highlights of FM Nirmala Sitharaman speech- Digital

Technology Budget 2022: Key Highlights of FM Nirmala Sitharaman speech- Union Finance Minister Nirmala Sitharaman presented the Union Budget 2022 today. In FM speech, there were a numer of critical announcements on promotion of technology stated that India’s growth for the current fiscal year is estimated to be around 9.2 percent, highest among other large economies. While the nation battles the third wave of the Covid-19 pandemic, Sitharaman maintains that India’s bounce back is the sign of its resilience. Calling the Budget futuristic and inclusive, she added that the Budget 2022 will lay the blueprint for the coming 25 years. On the technology side, there were quite a few new announcements made.

In his reaction, RPG Enterprises Chairman Harsh Goenka tweeted: "With today's budget focussed on capex, digital and welfare - I can clearly imagine the future. Today's wordle – Budget edition".

Budget 2022: Key Highlights

1. PM e-vidya initiative One class-One channel will be extended from 12 to 12,000 TV channels to provide supplementary education to students from class 1 to 12.

2. Digital universities to be set up on a networked hub-and-spoke model where personalised learning will be provided in multiple Indian languages.

3. 75 digital banking units will be established in 75 districts of India by scheduled commercial banks

4. E-passports will be issued using embedded chips and futuristic technology.

5. AVGC (Animation, Visual Effects, Gaming, and Comics) task force will be set up to build capacity and serve the global market. It will be aimed to create employment for the youth.

6. 5G: Spectrum auctions to be held in the current year to enable 5G mobile services rolling out by 2023.

7. Scheme for design-led manufacturing will be launched to enable affordable broadband in rural and remote areas. It will be part of the PLI scheme.

8. Kisaan Drones will be provided to farmers for digital assessment of lands.

9. Policy for settlement of 75% of running bills in 10 days to be established in order to reduce delays in payment. Digital e-bills also to be set up by ministries.

10. Optical fibre cables will be laid out in all villages and will be completed by 2025.

Watch FM Nirmala Sitharaman Speech Live Below:

11. Digital rupee: Central digital currency will lead to cheaper and more efficient digital currency. The blockchain technology enabled currency will be issued by RBI starting FY22-23.

12. EV: A Battery Swapping Policy will be rolled out and interoperability standards will be formulated. Private Sector will be encouraged to develop sustainable and innovative business models as a service to improve efficiency in the EV sector.

13. Solar Energy: Additional allocation of Rs. 19,500 Cr. for PLI to go towards manufacturing high-efficiency solar modules to achieve 280 gigawatt of solar capacity by 2030.

14. Any income from the transfer of any virtual digital asset to be taxed at the rate of 30%. Gift of cryptocurrencies will be taxed at the receiver's end.