Budget 2020: Finance Minister Highlights the Role Of Technology Across Sectors

A comprehensive budget speech given by Finance Minister Nirmala Sitharaman was an important one for the technology industry. Apart from specific technology-related proposals, she has mentioned the use of technology in uplifting other sectors and enabling welfare schemes. 

Here is a quick update on where FM mentions the use of technology to improve sectors and schemes: 

• BharatNet to get Rs. 6000 crores to boost internet connectivity. Fiber to home connections will happen through BharatNet which will be provided to 1 lakh gram panchayats. 
• “To ensure access to education for everyone, degree-level full-fledged online education programs will be allowed for institutes ranked in the top 100. IN-SAT exam will be held in African and Asian countries to benchmark foreign students,” FM Sitharaman has said, proposing online education to ensure education access for all.
• App-based invoice financing loans product to be launched, to obviate the problem of delayed payments and cash flow mismatches for MSMEs
• FM announces a degree-level full-fledged online education program to be offered by the top 100 institutions in the country. 
•  A common online test will be held for all non-gazetted posts across the country, especially in the aspirational districts. A National Recruitments Agency will be established too.
• There are 20,000 impaneled hospitals in Ayushman Bharat and need more in Tier 2 and 3 cities to benefit the poor in these areas. Under the ‘Ayushman Bharat scheme’ use of AI and ML has helped eradicate TB (Tuberculosis) and by 2025 they plan to eradicate TB entirely. 
• Digital platform to facilitate seamless application and capture of IPRs
• ‘Data must have strong credibility’. The proposed new National Policy for Official Statistics will be using AI technology which will lay down a network for a modern data connection and integrated information portal for dissemination of information. This is expected to meet the challenges of the complex economy. 
• I-T Act will be amended where CBDT will be mandated the taxpayers charter. Further, PAN will be instantly online on the basis of Aadhaar without filling any forms. Personal income tax is now at the lowest level: FM
• 550+  wifi stations for Indian railways 
• Over 6 lakh Anganwadi workers have been equipped with smartphones to upload the nutrition status of 10 crore households: FM
• FM Sitharaman has proposed the launch of ‘Nirvik’ scheme for digital refund of duties to exporters this year itself
• Government has identified suitable technology to eliminate manual cleaning of sewer systems and septic tanks
• Support for R&D, technology upgradations and business strategy

Also Read: Budget 2020 Highlights! You Wouldn’t Want To Miss This!

There has also been a mention of how technology will be used for manufacturing medical devices, enabling a digital revolution and moving towards sophisticated technologies such as AI, ML, IoT and Data Analytics. 

Read: Budget 2020: What FM Offers The Technology Industry