“India’s focus in its union budget has been a combination of farmer welfare, individual taxations, and infrastructural development. In recent times, the budget recognizes the pivotal role of technology in accelerating progress towards these objectives. In the agricultural sector, there is a notable push towards increased digital adoption to modernize farming practices and minimize manual labor. The integration of open network technology is poised to enhance supply chain efficiency, fostering seamless commerce across various sectors. Emphasis on the use of blockchain-driven digital currency (e-Rupee) will instill heightened transparency in financial transactions and ensure more secure payments. Technology-driven advancements extend to healthcare, with a push on leveraging artificial intelligence for innovative solutions.
I hope that the budget explores the transformative potential of augmented and virtual reality in the education sector, which will deliver next generation learning experiences. 5G technology is a means to improve communication channels in rural areas, addressing connectivity challenges. Hopefully, digitalization takes the center stage in the budget’s approach to enhancing Micro, Small, and Medium Enterprises (MSMEs), with a focus on Industry 4.0 initiatives.
The demand for skilled professionals, particularly in the AI space will drive economic growth. To meet this demand, there should be a strategic focus on sourcing talent from tier 2 and tier 3 locations, alongside the development of Global Captive Center (GCC) hubs. We should align technological advancements with economic priorities, fostering inclusive growth and innovation. A technology-centric approach will help with the broader economic agenda, that propels India towards inclusive growth and digital transformation.”
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