During the Budget speech, Nirmala Sitharaman (Finance Minister of India) made interesting announcements related to the tech sector. The FM stated, “The government’s vision for the ‘Amrit Kaal’ includes a technology-driven and knowledge-based economy, with strong public finances and a robust financial sector.”
Last year, the contribution from the IT sector was 7.4% of India’s total GDP, and by the next two years (2025), it is expected to grow to 10% of the total GDP.
Keeping this incremental graph in mind, the Govt of India has started to introduce new initiatives and plans to promote the tech sector. Most of these initiatives include promoting digital payments, introducing 5G labs, Digilocker, etc. The rest of the developments are listed below:
With technology-based investments in data reforms and AI centers, India aims to lead the world in the domain of technological advancements. This would not only make India’s economy stronger but would also enable India to expand in terms of its GDP and employability rate.
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