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highlights
Discounts on mobile manufacturing and electronic items such as camera lenses.
To promote TV production, basic customs duty has been reduced on open sale parts of its panels.
To give India an edge in Artificial Intelligence (AI), 3 Centers of Excellence will be set up in the country.
Budget 2023: Finance Minister Sitharaman (FM Nirmala Sitharaman) has made many big announcements while presenting the budget. During the announcement of the budget, new announcements have been made regarding different sectors. In this episode, we know what changes will happen in the technology sector, and how it will affect the common man. In this budget 2023, the Finance Minister has given good news for those who buy electronic goods. To encourage the mobile phone production unit in the country, the central government will exempt customs duty on imports.
With this, it has been said to get exemption on electronic items like mobile manufacturing and camera lens. Due to this, less will have to be spent directly for mobile phones and LED TVs. Apart from this, more accessories and gadgets related to technology like laptops are also expected to be cheaper.
The Finance Minister also told that there will be an exemption on Lithium Ion batteries for one more year. The business has grown from 5.8 crore units worth Rs 18,900 crore in 2014-15 to 31 crore units in the last business year at Rs 2,75,000 crore.
TV will also be cheap
Apart from mobiles and cameras, the government has reduced the basic customs duty on open sale parts of TV panels to 2.5 per cent to promote television production in the country. Let us tell you that TV manufacturing was demanding reduction in the import duty of smart TV panels for a long time, and now this relief announcement has been made.
100 Labs will be made for 5G apps
Finance Minister Nirmala Sitharaman has announced that the government will set up 100 labs for 5G apps across the country. Apps for 5G services will be developed in these labs. Apart from this, these labs will be used as incubators to train students, promote innovation and research and experimentation.
Emphasis on Artificial Intelligence
To give India an edge in Artificial Intelligence (AI), 3 Centers of Excellence will be set up in the country. The Finance Minister said that these labs will be set up in engineering institutes. These labs will aim to present a new range of opportunities, business models and employment prospects.
The Finance Minister said that this budget proposes several measures to unleash the potential of our economy for Artificial Intelligence to realize the vision of ‘Make AI in India and Make AI work for India’.
First read breaking news in Hindi News18 Hindi| Read today’s latest news, live news updates, most reliable Hindi news website News18 Hindi.
Tags: Budget, Business, Nirmala Sitaraman, Tech news, Tech news no
FIRST PUBLISHED : February 01, 2023, 16:37 IST
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