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Budget+ve For Growth

Economy reset with tech focus

By ANUJ KAPURIA

Founder & CEO, The Hi-Tech Robotics Systemz Ltd.

Union Budget 2021 is growth-oriented and with a focus on R&D and innovation, which will surely boost the technology sector. Rs 50,000 crores allocation for the National Research Foundation will accelerate ground-up innovation specifically in digitization, AI, machine learning and robotics.

Rs 35,000 crores fund allocation towards one of the world’s most extensive Covid 19 vaccination drives shows an increased focus on the health sector. This will not only boost the health tech sector but also secure lives and livelihoods for all Indians.

Further, the doubling of fund allocation to over Rs 15,000 crores for MSMEs will counteract the negative impact of the pandemic and foster growth and development.

To cope up with new normal, incentives for creating digital infrastructure, education &reskilling/upskilling spell out the government’s intent to develop the country’s human capital and help India become a digital superpower.

The promise of ‘Minimum Government, maximum governance’ can only be realised through greater investments in technology, which Budget 2021 captures very well.

Overall, the Budget has unveiled a set of well-crafted, robust initiatives that encompass the vision of an ‘Atmanirbhar Bharat’ and lays the foundation for an economic reset by focusing on core priorities in technology. Overall, the budget has been positive and refreshing in its scope and scale.

 

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