Union Budget 2023: What tech sector intends from the Government?
2 min read 30 Jan 2023, 10:52 PM ISTOn February 1, Union Finance Minister Nirmala Sitharaman is scheduled to present the Union Budget for the fiscal year 2023–24.
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On February 1, Union Finance Minister Nirmala Sitharaman is scheduled to present the Union Budget for the fiscal year 2023–24. Expectations from all industries are increasing as the day draws closer. The nation's technology industry will pay special attention to expenditures for the requirements of digital public infrastructure, skill development, and incentives for growing electronics production together with actions that will increase the ease of doing business.
In terms of the top 2 import categories that India deals with, Oil and Gas imports come in second. Electronics use is rising and expanding at a nearly exponential rate. We would also anticipate that there should be a fair market for indigenous tech companies when it comes to government tenders in order to stop unfair commercial practices in the Indian market. Both the Atma Nirbhar project of the Indian government and domestic consumption in India might gain from this. Here are 4 expectations we are looking for in this Union Budget 2023 -
1. Predictions relating to the government’s 5G initiatives
In order to enable the industry to embrace 5G much more swiftly, we will need to keep this regulatory framework as basic and well-defined as possible. The government does have some forward-looking policy framework for Private 5G, but we will need to keep it that way. It is time to implement 5G and Fiber over air to connect even the most remote communities, and eventually every home, with dependable and high-quality broadband as the government is actively working to deliver water and light to every home.
2. Aims for the incentives in the PLI Schemes
The government has already committed a sizable sum to PLI and dispersed it over a few years to ensure that continuing activities can be maintained. But evaluating and rewarding the performer frequently could be a way to speed up the portion.
3. Tax advantages and subsidies that will hasten the development of India's Datacenter Hub.
The growth rates are not paralleled, and India in particular is quickly becoming one of the main nations for global data. Everything will change from this point on; perhaps this is only the beginning of something new. India needs to think about localising such data, hence expanding data centres is crucial.
For India to become a centre for data centres, it must adhere to international norms. In order to secure consistent, inexpensive electricity and connectivity that meets with international standards, data centres need more support and assistance.
4. Amplifications in the cyber security -
The concept of cyber security is complicated and calls for extensive discussion. Networking switches, a crucial component of any network, are among the foundations, in my opinion. From the standpoint of cyber security, a Make in India product in this market will help and defend us. They should focus on this key sector, it is thought, in order to prevent losing sight of it in favour of other cyber security issues.
Author: Sanjay Lodha, Co-founder at Netweb Technologies
