Summary:

In the Union Budget FY25, Finance Minister Nirmala Sitharaman outlined steps to advance digitalization and technology. She emphasized past successes, highlighting how technology has boosted productivity and reduced inequality. Investments in digital infrastructure have enhanced residents' access to education, healthcare, and other services.

The budget includes key measures to improve data governance through sectoral databases and technology tools. Customs duties on mobile phones, PCBAs, and chargers will be reduced to 15% to benefit consumers. Duties on oxygen-free copper and certain connector components will be eliminated to stimulate domestic electronics production. The Customs duty on PCBA will be increased from 10% to 15% to support telecom equipment manufacturing. Additionally, the budget proposes developing Digital Public Infrastructure (DPI) applications across various industries and establishing a $119.5 million venture capital fund to expand the space economy fivefold over the next decade.

Source: IBEF

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