Finance Minister Nirmala Sitharaman has presented the budget for the sixth time. On Thursday, she unveiled the interim budget for FY 2024-2025 ahead of the official government takeover in July 2024.
Sitharaman expressed confidence in BJP’s victory in the upcoming general election this year. She stated, “In July 2024, our administration will present a comprehensive plan highlighting the progress of Bharat, accompanied by detailed budget information.”
The FM announced for the youth of the country a corpus of Rs 1 lakh crore which would be created through a fifty-year loan with no interest, symbolising a prosperous era for India’s advancements in technology.
She added a new scheme will be introduced to enhance deeptech technologies for defense and expediting ‘Atmanirbhar Bharat’.
In addition to these initiatives, Sitharaman said that it is noteworthy that girls and women make up 43 per cent of the enrollment in STEM courses, a figure that ranks among the highest globally. Given the scarcity of women in the tech sector, it is evident that women will have a significant influence shortly.
Furthermore, the FM underscored the technological challenges. She said new-age technologies and data are changing the lives of people and businesses. “They are also enabling new economic opportunities and facilitating the provision of high-quality services at affordable prices for all, including those at the ‘bottom of the pyramid’.”
Sitharaman underscored that India’s opportunities on the global stage are continuously growing. The country is demonstrating its potential through the innovative ideas and entrepreneurial spirit of its citizens.
She stressed that incumbent PM Narendra Modi believes in the significance of research and innovation which is driving growth, employment and development. She reiterated the PM’s mantra “Jai Jawan, Jai Kisan, Jai Vigyan and Jai Anusandhan,” highlighting the crucial role of innovation as the bedrock of progress.
Regarding the Centre’s focus on innovation, Nilaya Varma, Co-founder & CEO of Primus Partners, expressed his appreciation for the long-term funding allocated to research. He said, this “funding is crucial for India to foster IP-based growth, which holds immense potential for the future.”
