Budget 2020: FM Prods IT Industry Towards Data Centres, Announces Incoming National Policy

Union Budget

Finance Minister Nirmala Sitharaman said the government will bring out a policy for data centre parks throughout the country while presenting the Budget

Written By Varsha Chavan | Mumbai | Updated On:

Finance Minister Nirmala Sitharaman said on Saturday the government will bring out a policy for Data Centre parks throughout the country while presenting the union budget 2020-2021.

Echoing that 'data is the new oil', Sitharaman said that the government has provided Rs 6,000 crore for BharatNet to provide a fiber-to-home link in over 1 lakh gram panchayats this year. Nirmala Sitharaman said that India has embraced sharing economy, with aggregators displacing regular businesses. 'Analytics, IoT and AI are changing the world,' she said. 

Presenting the Budget for 2020-21, Sitharaman said, "I propose to set up Data Centre Parks. The IT sector should also look into this. This will help in storing and dissemination of data better. All public institutions at gram panchayat levels such as police stations and post offices will be connected digitally. An allocation of Rs 6,000 crore will be provided for BharatNet. The mapping of genetic landscape is critical for India. "

READ | Union Budget 2020: First Visuals Of FM Sitharaman With Budget 2020 Papers In 'Bahi-Khata'

She continued, "The government also announces Rs 8,000 crore outlay provided for National Mission on Quantum Technology and Application for over 5 years. The government will also consider corporatization of at least one major port and listing it on stock exchanges. Two national-level science schemes to be set up for getting a comprehensive national-level database," she added.

READ | Budget: India Far From Recession But Saw Slowdown; Expect 6.5% Growth In 2021, Says IMF

New scheme for insurance cover 

Sitharaman said, "In order to achieve higher export credit, a new scheme is being launched which provides higher insurance cover and reduced premium. 150 higher institutes will start apprentice training for general category students, adding gross enrolment ratio for girls across all levels of education is higher than boys. The government has allocated Rs 28,600 crore for programmes, specifically for women."

Further introducing a new scheme of smart meters she said, "Smart meters will be launched soon. The prepaid meters will give freedom to give consumers to choose supplier and rate as per their requirement, says FM Nirmala Sitharaman. A total allocation of Rs 22,000 crore will be given to the power and renewable sector."

READ | Budget 2020 LIVE Updates: FM Assures End To Tax Harassment, Announces LIC Stake-sale

READ | Budget: In Historic Divestment Move, Govt May Transfer PSU Stakes To New Corporate Entity

By 2030, 40% Indians will not have access to drinking water