The focus on inclusive digital education, setting up of digital universities, digital health facilities and digital banking, all clearly highlight the emphasis the government is giving on setting up a strong digital infrastructure.
The union budget can be termed as a growth-oriented one, with the government focusing strongly on world-class infrastructure development and inclusive development.
The focus on inclusive digital education, setting up of digital universities, digital health facilities and digital banking, all clearly highlight the emphasis the government is giving on setting up a strong digital infrastructure. The linking of all post offices with core banking solution will undoubtedly accelerate financial inclusion, while the announcement of the DESL stack portal to upskill Indian youth as per industry needs will help to fill the talent and skill gap.
Digital payments will get a further boost with the government announcing the setting up of 75 digital banking units in 75 districts by scheduled commercial banks. Digital payments will also get a push with the Reserve Bank of India introducing a Digital Rupee using blockchain technology this fiscal. It is heartening to see that the Budget is relying on technology to enable the next phase of sustainable socio-economic development, with the use of drones for land surveys and crop assessments, assigning infrastructure status to data centres, e-content delivery, and e-passports.
From the perspective of the telecom sector, I welcome the announcement pertaining to 5G auctions being held in 2022 with the quick rollout of 5G services within 2022-23. 5G has a strong potential to boost the socio-economic development of the country. It must be viewed as a critical part of national infrastructure and the identified 5G spectrum bands should be made available at reasonable prices to service providers. The scheme for design-led manufacturing under the PLI scheme will serve as a shot in the arm for the 5G ecosystem. Certain welcome concessions in customs duty have been given to promote electronics manufacturing and mobile phone parts.
The government’s focus on connecting rural India by laying optical fibre in all villages with the completion of the Bharat Net project in 2025 as well as allocating 5% of annual collection under USOF for R&D and commercialisation of tech and solutions will enable the benefits of mobile broadband to reach all remote parts. The incentives being given by the government to start-ups, including those working on drone technology, will undoubtedly benefit industry and fuel 5G innovation in the country. I also see this as a great opportunity for the country to contribute to the global 5G ecosystem.
https://www.financialexpress.com/budget/union-budget-2022-growth-oriented-with-eye-on-infrastructure/2429059/
