Budget 2023: Artificial Intelligence to National Data Governance Policy, FM Sitharaman drives digital agenda
Union Finance Minister Nirmala Sitharaman presented the Union Budget 2023-2024 today, setting out various proposals to boost the Indian economy in the face of the severe slowdown that has affected the global economy. bridge. The foundation of all the announcements are digital initiatives that are expected to drive virtually all of the proposals announced today in Lok Sabha.
“League Budget The year 2023 listed many initiatives, such as the development of handicrafts, an agricultural support fund, the promotion of public-private partnerships for sustainable crops/horticulture, as well as the establishment of a livestock base. Multi-purpose dairy and aquaculture farming. This will ensure the comprehensive development of rural people, and in turn, will boost the industry by increasing consumption. Naveen Malpani, Partner, Governance and Operations, Grant Thornton Bharat explains: “For months, rural consumption has been faltering and the announcement initiatives are sure to provide a boost to the recovery. emotional awakening”.
FM Sitharaman emphasized the importance of her technology program including the expansion of the digital infrastructure, including new centers of excellence for artificial intelligenceNational Data Governance Policy and Entity DigiLocker.
“Our vision for Amrit Kaal is based on technology and knowledge economy with strong public finances and a strong financial sector,” said Sitharaman.
India has enjoyed some success in the digital sector that is powering the country’s public infrastructure, including aadhaar . cardco-winner, UPI and many more.
Looking ahead, FM Sitharaman highlights the fact that the government intends to enter the new age Artificial Intelligence fields and also take advantage of the opportunities opened up as India enters the 5G era.
With smartphone Now present in almost every Indian household, FM has proposed to assist Indian companies in adding value in mobile phone manufactures through reduced customs duties on the import of certain parts and inputs such as camera lenses.
“In order to further enhance the domestic value added in mobile phone production, I propose to reduce customs duties on the import of certain parts and inputs such as camera lenses and continue tax incentives. for lithium-ion batteries for another year,” FM said.
Moving from production, FM Sitharaman has published proposals to unleash innovation and research by startups and academia. FM says this will happen through the National Data Management Policy. The important part is that this step will allow access to anonymous data – this will protect personal data and not breach it.
FM also proposes to establish three centers of AI excellence at leading educational institutions to realize the vision of “Make AI in India and Make AI Work for India”.
“Industry leaders will collaborate to carry out interdisciplinary research, develop cutting-edge applications and scalable problem solutions in the areas of agriculture, health and sustainable cities. This will promote an effective AI ecosystem and nurture quality human resources in the field,” said FM.
She said digital public infrastructure for agriculture will be built as an open source, open standard, and interoperable public good.
“This will enable comprehensive, farmer-centred solutions through related information services for crop health and planning, improving access to agricultural inputs, applications and insurance, helping with crop estimates, market information and supporting the development of high-tech agriculture and start-ups,” noted Sitharaman.
With the Covid pandemic leaving a huge gap in the education of students, FM Sitharaman announced the establishment of various digital touchpoints, including the National Digital Library for Children. and youth to facilitate the delivery of quality books across geographies, languages, genres, and levels.
With the KYC process proven to be such a robust system, FM Sitharaman says the process will be simplified by adopting a ‘risk-based’ approach instead of a ‘one size fits all’ approach. chief’.
“Fintech services in India have been supported by our digital public infrastructure including Aadhaar, PM Jan Dhan Yojana, Video KYC, India Stack and UPI. To enable many innovative services More Fintech, the range of documents available in DigiLocker to individuals will be expanded,” said Sitharaman.
In order to strongly promote MSMEs, large enterprises and charities, FM Sitharaman proposed setting up an ‘Entity DigiLocker’. This will go towards securely storing and sharing documents online with banks and other business organizations.
FM Sitharaman says up to 100 application development labs using 5G services will be established in engineering organizations to realize a range of new opportunities, business models and job potential.
