Budget 2023: At a time when Artificial Intelligence is disrupting life across all sectors, Union finance minister Nirmala Sitharaman, while presenting the Union Budget 2023 has proposed a vision for not just 'Make AI for India' but also 'Make AI work for India'.
The Union finance minister said that three centres of excellence for artificial intelligence will be set up to enable the vision of 'Make AI for India' and 'Make AI work for India'. These centres will be set up in top educational institutions to develop cutting-edge applications in the field of agriculture, health, and more, said Sitharaman.
BUDGET 2023: FULL COVERAGE
Union finance minister Nirmala Sitharaman announced the 2023 Union Budget, calling it the first budget of "Amrit Kaal." She stated that the government's aim is to have a technology-driven and knowledge-based economy with strong public finances and a robust financial sector, and that the seven priorities of inclusive development, reaching last mile, infrastructure investment, unleashing potential, green growth, youth power, and financial sector will guide the country in this endeavour.
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The finance minister acknowledged the recognition of India's economy as a "bright star" and said that the government's efforts since 2014 have resulted in a doubled per capita income and India's rise to the 5th largest economy in the world. She also viewed the current global challenges as an opportunity for India to strengthen its role in the world economic order and highlighted the COVID-19 response, including the provision of free food grains to over 80 crore people. The G20 presidency, she noted, would offer India a chance to help shape a new world order.
Union finance minister Nirmala Sitharaman announced in the Union Budget 2023 that 9.6 crore LPG connections and 220 crore COVID vaccinations for 102 crore people have been given, and 47.8 crore JanDhan accounts have been opened. She also announced the creation of an Agriculture Accelerator Fund to support agri-startups by young entrepreneurs. The National Rural Livelihood Mission, she stated, has achieved significant success by organising rural women into 1 lakh self-help groups.
"The digital transformation of India is an unstoppable force, creating a more efficient, innovative and connected nation for generations to come. AI and digitization have the power to transform the way we live, work and communicate, creating a smarter, more connected India. The future belongs to those who embrace the power of AI and digitization to drive innovation and economic growth," Priya Ranjan Panigrahy, CEO and founder CEPTES Software, said.
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