Finance Minister Nirmala Sitharaman presented the first full-fledged budget of the Modi government's third term. The Union Budget 2024 has set ambitious targets to drive transformative changes across various sectors, strongly focusing on leveraging technology to propel progress towards Viksit Bharat. This budget aims to lay a robust foundation for future growth by focusing on innovation, digital infrastructure, and supportive policies for the technology and telecom sector.
One of the most notable features of Union Budget 2024 is establishing a mechanism to stimulate research and development in the private sector. The government has allocated a substantial corpus of Rs 1 trillion for financing at low or nil interest rates. This initiative, coupled with the operationalisation of the Anusandhan National Research Fund, aims to boost basic research and prototype development. By creating a conducive environment for cutting-edge research, the government seeks to encourage innovation and technological advancements that will drive India's progress.
The budget earmarks a considerable allocation of Rs 1,163,420 million for IT and telecom expenditures, underscoring the sector's critical role in national development. Here are key insights into Budget 2024 from the technology, media, and telecom sector perspective.
WITHDRAWAL OF THE EQUALISATION LEVY
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Cloud endoscopy breakthrough for real-time remote diagnostics
NTT Corporation and Olympus Corporation have demonstrated the feasibility of real-time remote diagnosis and treatment using the world's first endoscopy system powered by IOWN All Photonics Network (APN) technology. The breakthrough experiment successfully processed endoscopic videos on a server located 150 km away, overcoming latency issues and enabling seamless diagnostics.
Rise of the homegrown telecom infrastructure
Telecom infrastructure, once led by US and European designs and made in China, iS Now increasingly designed and manufactured in India, marking a pivotal shift
Balancing innovation and regulation for a connected future
Crafting agile governance ensures equitable, sustainable growth, blending innovation with societal protection in a hyper-connected digital age
Driving transformative shifts towards digital leadership
India's telecom sector, driven by 5G, bold policies, and cross-sector collaborations, is paving the way to global digital infrastructure leadership
Scaling AI in data centres for the next big leap
GPU-optimised data centres are vital for advancing India’s Al ambitions, enabling it to meet growing computational demands and maintaining global competitiveness
Bridging gaps with AI's transformative communication wave
AI-driven real-time communication reshapes industries, enhancing connections, operational efficiency, and immersive experiences in a digital-first world
Weaving the fabric of CDN efficiency
Local peering transforms CDNs by cutting latency, boosting reliability, and ensuring seamless, high-speed delivery for modern digital experiences
From orbit to opportunity: Redefining connectivity
India's satcom sector is set to revolutionise connectivity through hybrid networks, bridging the digital divide and driving innovative technologies for growth
Orchestrating telecom's smart future
AI and automation can revolutionise telecom networks, crafting intelligent, selfoptimising systems to meet future demands and deliver seamless connectivity
Unlocking the true potential of IoT
Specialised silicon and 5G are set to redefine loT's future, driving AloT innovations that deliver real-time intelligence, security, and seamless connectivity
