Digital Rupee, E-Passports, And 5G: India's Budget 2022 Gives Tech Boost

India's Finance Minister Nirmala Sitharaman unveiled the central budget for 2022-2023 on February 1, 2022. The second paperless budget of India touched on different facets of technology and information as well, shedding light on the future of a "Digital India." Here are key takeaways from union budget 2022 that impact technology and development.

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5G services

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5G services will be available in India within 2022-2023, Finance Minister Nirmala Sitharaman announced on February 1, 2022. This timeline is for private telecom companies like Airtel, Jio, and Vodafone Idea. The auction for 5G spectrum will take place in 2022, implying the rollout is nearer than we think. In addition, Sitharaman also announced online bill facility for all government supplies.

E-passports

With all things "e" now flooding India's economy, looks like Indian passports are also set to become digitised. Finance Minister Nirmala Sitharaman on Tuesday announced that the passports of Indian citizens would be upgraded using embedded chips and futuristic tech. Chips could help make passports of each individual safer and harder to rip off.??

Digital Rupee

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Yes, it's finally here! Finance Minister Nirmala Sitharaman announced on Tuesday that India is finally embracing blockchain. To counter the disarraying world of cryptocurrencies and blockchain, the Reserve Bank of India will develop the blockchain-based digital rupee. The Central Bank Digital Currency (CBDC) is expected to be launched within 2022-2023.

Domestic boost for gaming

As the digital world witnesses a gamification revolution, India wants to capitalise on the same. Finance Minister Nirmala Sitharaman announced that an Animation, Visual Effects, Gaming, and Comics promotion task force will be set up in India to boost domestic capacity for the booming industry. In addition, the government will levy 30% tax on income from digital assets, including various cryptocurrencies like bitcoin, dogecoin, etc.

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Digital University

India's very first state-backed digital university will be built (digitally, of course)! While no other details about this digital university have been made public yet, it appears that the primary digital framework for the same will be undertaken this year. In addition, the government plans to set up five centres of excellence with an endowment fund of??250 crore each for courses focused on urban planning.

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Did the yearly budget meet your expectations? Let us know what was missed and what was a hit in the comments below.?For more in the world of?technology?and?science, keep reading?Indiatimes.com.?