Budget 2022 goes tech-tonic! FM puts focus on e-passport, 5G, gaming, AVGC, EV battery swapping & more

Synopsis

The FM said that Budget 2022 is a blueprint of economy over ‘Amrit Kal’ of next 25 yrs.

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This will act as a key to India’s growth and pave way for a tech-enabled digital economy.

Budget 2022: Highlights

The Budget announced by the finance minister Nirmala Sitharaman in Parliament on February 1 was her shortest ever, but it touched base on almost every prominent sector including the technology field.

It surely looks very futuristic with big plans for India’s bright, tech-fueled tomorrow as the Centre has some policies in store for 5G network, travel, gaming and other related sectors.

Sitharaman began her speech by saying that the Budget 2022 is a blueprint of economy over ‘Amrit Kal’ of next 25 years from India@75 to India@100 and by throwing extra focus on digital sector, that thought surely echoed that vision.

The new policies will act as a key to India’s growth and pave way for a tech-enabled digital economy.

Here’s a look at some of the key policies in the digital sectors that were mentioned in the Budget 2022:

E-Passports

The FM in her Budget announced that the government will start issuing e-passports from this year which will come with an electronic chip.

The e-passport will use the Radio Frequency Identification and biometrics and will contain crucial security related data encoded within it such as the holder’s name, date of birth and other biographic information.

It will also contain a biometric identifier.

The e-passport makes identity theft difficult and helps in protecting privacy.

5G roll-out, broadband and optical fibre

In the Budget 2022, the roll-out of 5G service was also announced. The government will conduct spectrum auction this year to facilitate the 5G roll-out in the country by private telecom operators.

“Spectrum auctions will be conducted in 2022 to facilitate the roll-out of 5G mobile services within 2022-23 by private telecom providers,” Sitharaman said.

The FM further said that the mission is to make sure that all villages and their residents have the same access to e-services, communication facilities and digital resources at urban areas and for the residents.

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The Budget 2022 also mentioned that contracts for laying optical fibre in all remote villages in the country includes secluded areas and it will be awarded through the BharatNet project through PPP in 2022-23.

The completion of the project is expected in 2025, the FM said.

Gaming, animation, comic and related fields

Other sectors such as gaming, comic, animation and related fields found a mention in the Union Budget 2022 as well.

The government announced the creation of a new task force that will look at different ways to build domestic capacity and also meet the global demand in visual effects, AVGC, gaming and similar digital sectors.

This comes as a huge relief to those who want to pursue a career in digital field. The announcement by the FM will likely provide interesting job opportunities to the youth of India.

EV battery swapping system


Now in electric vehicles sector, Sitharaman in her speech announced that the Centre will implement a battery-swapping policy in order to promote cleaner transport.

The finance minister further said that the government will also come up with plans for special mobility zones for EV.

“Considering the constraints for space in urban areas for setting up charging stations at scale, a battery-swapping policy will be brought out and interoperability standards will be formulated,” the 62-year-old said in her Budget speech on Tuesday.

Budget 2022 Cheaper & Costlier Items: Add Gold, Mobile Phones To Your Shopping Cart; Go Eas…

To Buy Or Not To Buy

The one-and-a-half hour long Union Budget 2022 speech was full of futuristic dreams and high on technology.

Nirmala Sitharaman’s second pandemic Budget came as a ray of shining hope for many, but also dampened expectations of some manufacturers.

From jewellery to mobile phones and more, many items will get cheaper this year, while a number of products, especially our beloved umbrella, will burn a hole in your pocket.

Here’s a look at all the products that will become dearer or cheaper in the months ahead.


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