Finance Minister Nirmala Sitharaman highlighted the significance of technology and its implications for individuals and businesses during her address at the Interim Budget 2024.
Sitharaman's remarks during the budget session centered on the crucial role of the Indian data landscape in fostering economic growth and delivering high-quality services at affordable rates, both domestically and globally.
Highlighting the importance of innovation as a catalyst for progress, Sitharaman emphasized the current era as a golden opportunity for tech-savvy youth to drive development forward. She outlined plans to develop cutting-edge technology, particularly in the defence sector, to bolster self-reliance and propel the nation towards self-sufficiency.
One of the key announcements made by Sitharaman was the introduction of a Rs 1 lakh crore corpus, offering a 50-year interest-free loan. This initiative aims to provide long-term financing or refinancing with minimal to no interest rates, facilitating sustained investment in technological advancements.
The allocation of funds for technological developments, especially in deep tech-oriented defence needs, features the government's commitment to harnessing innovation for national security and strategic autonomy.
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