2020 Budget Focus: Analysts Emphasize Crucial Role of Digital Infrastructure and Data Management
In 2015, the Hon'ble Prime Minister launched the Digital India initiative, marking a significant catalyst for technological advancement in the country. This ambitious project has led to a rapid adoption of technology-based solutions by businesses, as emphasised by Maninder Bharadwaj, a Partner at Deloitte India.
Mr. Bharadwaj, in his remarks, has highlighted the need for the establishment of data-centric parks within India. He stresses the importance of these parks in fostering innovation, improving accessibility, creating jobs, and providing a competitive edge in globalisation. However, he also underscores the crucial need for considering security aspects during this transformation to safeguard the digital universe from potential cyber threats.
The Finance Minister's speech in Budget 2020 reflects a commitment to India's digital transformation journey. He made references to Artificial Intelligence (AI), Internet of Things (IoT), and data analytics, indicating a focus on new age technologies. To hasten the implementation of the Digital India initiative, INR 6,000 crore has been allocated in FY21.
In line with the digital transformation, the demand for extension of tax holiday benefits and abolition of MAT for SEZ units was not met in the budget. However, a scheme to promote the manufacturing of mobile phones in India was proposed.
The goal is to link 100,000 gram panchayats in FY21 to the FTTH backbone, further accelerating digital connectivity across the country. The rapid adoption of technology-based solutions is a direct result of the Digital India initiative, as indicated by Mr. Bharadwaj.
Cybersecurity is considered vital for ensuring growth in the era of globalisation, as stated by Mr. Bharadwaj. His remarks highlight the need for cybersecurity to safeguard the digital universe and promote growth. Public-private partnerships are expected to spur innovation in India's technology sector, further driving the digital transformation forward.
Data is referred to as the new oil in the budget speech, emphasising its importance in the digital age. The specific companies involved in the planning of data centers in India mentioned in the 2020 budget are not detailed in the provided search results. Nevertheless, the Digital India initiative has been instrumental in promoting the use of technology-based solutions and is set to continue shaping India's digital landscape.
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