Latest Tech News Recap - Week 1, February 2020 (Feb 4, 2020)
The Government of India has unveiled its budget proposal for the financial year 2020-21, outlining several key initiatives aimed at boosting various sectors. One of the notable points is the allocation of Rs. 6000 crores to BharatNet, a mission to improve internet connectivity across the country. This investment is expected to further bridge the digital divide and facilitate seamless online access for all. The IT sector is set to receive a significant boost with the National Mission for Quantum Technologies, which targets an investment of over 5 billion rupees from 2020 to 2025. This initiative is expected to propel India into the forefront of quantum technology research and development. The Union Budget also encourages domestic manufacturing of electronic devices under the 'Make in India' initiative. The goal is to boost the domestic manufacturing sector and attract foreign investment in electronic devices, thereby strengthening India's position in the global electronics market. In a move to promote digitalisation, the budget proposes policy for Data Centre Parks throughout the country, inviting foreign investment in all sectors. This policy is expected to create a conducive environment for the growth of data centres and digital services in India. The budget also highlights the setting up of five new smart cities, to be developed in a private partnership mode. These smart cities are expected to showcase sustainable urban development and smart infrastructure. In the health sector, the 'Ayushman Bharat' scheme aims to eradicate TB using AI and ML. The budget also provides support for R&D, technology upgradations, and business strategy to further strengthen India's healthcare infrastructure. Education is another sector that receives attention in the budget. The plan is to offer degree level online education by 100 institutes, making higher education more accessible to a larger population. The budget also allocates Rs. 8000 crores for quantum technologies under the 'National Mission', to be implemented by the Department of Science and Technology, over a period of 5 years. The 'Nirvik' scheme offers digital refund of duties to exporters, aiming to simplify the export process and reduce administrative burdens. Lastly, the Union Budget 2020-21 aims to boost income and enhance purchasing power, with the Government e-Marketplace (GeM) set to become a single platform for procurement of goods, services, and works, with a market worth more than Rs. 3 lakh crore. In conclusion, the Union Budget 2020-21 presents a comprehensive plan to boost various sectors, focusing on digitalisation, infrastructure development, and promoting domestic manufacturing. The initiatives outlined in the budget are expected to drive economic growth and improve the quality of life for Indians.
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