Tech-driven budget focuses on strategic growth: Nasscom
By siliconindia | Thursday, 02 February 2023, 08:36:00 AM IST
IT industry's apex body Nasscom on Wednesday said that the Union Budget for 2023-24 is technology-backed, focused on building a sustainable future and an inclusive economy at-scale with a sharp focus on investment, industry, inclusiveness and infrastructure.
In a statement, Nasscom said that the Budget could undoubtedly be termed as a blueprint for India @100.
"It touched upon all the critical aspects required to position India as a leader in terms of digital offerings, along with a focus on talent and sustainability. It is bold and strategic, with a clear focus on growth and development," said the IT industry body.
Calling out the Indian economy as a tech-driven, knowledge-based economy, the budget focuses on three key transformational trends that will help build India its competitive advantage -- digital transformation, energy transformation, and supply chain resilience.
The budget outlines India's plan to become an engine for global growth and deploy digital as leading India's development.
"It called out the role of technology in almost all the major announcements -- from building digital public infrastructure (DPI) for agriculture to the use of tech for accelerating the skilling momentum to growing e-courts to powering green growth and sustainable mobility," said Nasscom.
The creation of 5G labs will further help in opening newer avenues and opportunities, scaling up new business models and employment prospects.
"The government also reiterated its commitment to green growth. Focus on green fuel, green energy, green farming, green mobility, green buildings, green equipment, and policies for efficient energy use across various economic sectors is indeed the need of the hour. Allocating Rs 35,000 crore towards achieving net zero goals and energy transition is commendable," it added.
Highlighting that India is the third largest ecosystem for startups, the budget offers a playing ground for the startup community as well.
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