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Monday, February 10, 2025

5 Things to Know About Key Technology-Related Announcements From the Union Budget 2025


Finance Minister Nirmala Sitharaman on Saturday introduced a number of new measures and schemes as a part of the Union Budget 2025. The second price range of the NDA authorities’s third time period will broaden broadband connectivity to authorities colleges, and take efforts to spice up manufacturing of photo voltaic cells, grid-scale batteries, and different merchandise. The price range can even present insurance coverage protection for almost 1 crore gig employees, whereas mortgage limits beneath the PM Swanidhi scheme will probably be elevated, together with a brand new Rs. 30,000 bank card linked to the NPCI’s unified funds interface (UPI).

Here are 5 issues to learn about key technology-related bulletins from the Union Budget 2025

  1. The authorities has introduced 5 National Centres of Excellence for Skilling, and a brand new Centre of Excellence for AI in Education can even be arrange — the latter can have an outlay of Rs. 500 crore, in accordance with the finance minister. Meanwhile, new infrastructure will probably be added to IITs that have been established after 2014 as a part of efforts so as to add 6,500 seats for college students on the newer institutes.
  2. Broadband connectivity will probably be expanded to all secondary colleges and first well being centres throughout the nation, beneath the Bharat Net programme. Meanwhile, over 50,000 Atal Thinking Laboratories (ATL) will probably be established over the approaching 5 years at government-run colleges.
  3. A brand new Deeptech Fund of Funds is being explored by the federal government, with a view to enhance analysis and growth. Data from the PM Gati Shakti initiative can even be shared with the non-public sector, whereas Bharat Trade Net will probably be arrange for worldwide commerce. India Post will probably be revamped to enhance its logistics capabilities, in accordance with the finance minister.
  4. The Make in India initiative will probably be expanded to incorporate a brand new manufacturing mission that can create an ecosystem for the native manufacturing of elements reminiscent of grid-scale batteries, photo voltaic photovoltaic (PV) cells, and electrolysers. The authorities has lowered primary customs responsibility (BCD) on open cells and carrier-grade Ethernet switches, whereas BCD on flat panel shows has doubled from 10 % to twenty %.
  5. Over 1 crore gig employees will probably be eligible for government-funded insurance coverage, together with e-Shram registration and an identification card. The finance minister additionally introduced a brand new UPI-linked bank card with a utilization restrict of Rs. 30,000, in addition to larger mortgage limits for the PM Swanidhi Scheme.

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