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Union Budget 2022-23 to boost Digital India, economy & create job opportunities, say industry, analysts

“The proposal for taking progressive decisions in encouraging affordable broadband and mobile services through facilitating PLI scheme for 5G equipment, laying optical fiber cables through PPP model under BharatNet project are welcome steps,” said SP Kochhar, Director-General of Cellular Operators Association of India (COAI), an industry body representing telecom companies Jio, Airtel, and Vodafone Idea.

The auction of 5G spectrum in 2022 followed by commercial rollout of fifth-generation mobile services in 2023 coupled with fiberization of all villages by 2025 will propel the usage of telecom services, benefit various sectors, enable job opportunities, and will be integral to realizing of $1 trillion digital economy, telcos and industry experts said on Tuesday after the announcement of Union Budget 2022-23.

“The proposal for taking progressive decisions in encouraging affordable broadband and mobile services through facilitating PLI scheme for 5G equipment, laying optical fiber cables through PPP model under BharatNet project are welcome steps,” said SP Kochhar, Director-General of Cellular Operators Association of India (COAI), an industry body representing telecom companies Jio, Airtel, and Vodafone Idea.

“We are a bit disappointed that our long standing demands remain unaddressed. We look forward to continued and constructive engagement with the Government for reduction of levies on the telecom sector,” Kochhar added.

Arvind Kumar, Director General, STPI has praised Budget 2022 and has appreciated the efforts undertaken by the Finance Minister

Arvind Kumar, the newly appointed Director General of the Software Technology Park of India (STPI) has appreciated the Budget 2022 announcements made by Nirmala Sitharaman, Union Minister of Finance, Government of India. He termed the budget as ‘futuristic’ and also added that this would help the country achieve higher growth.

“The Budget 2022 is a futuristic budget with focus on catapulting India@75 to India@100. Emphasis laid on Digital India and Technology Enabled Development can play a transformational role in realising the vision of $1 trillion digital economy,” said Kumar

“Significant focus on the digital sector including the launch of digital services and facilities in every area along with facilitating digital services to farmers, and big announcements like rollout of digital currency by leveraging blockchain technology to setting up digital university, revving up e-passport, digital education, digital application in the field of health, banking & online facilities in post offices can catalyse the digital revolution in the country while creating lot of opportunities in IT/ITES sector, accelerating growth, bolstering industrial productivity, and taking India to the next orbital growth,” he added.

Some of the Important Budget 2022 announcements that were made are as follows: 

Emergency Credit Line Guarantee Scheme will be extended up to March 2023, the guaranteed cover will be expanded by Rs 50,000 crores to total cover of Rs 5 trillion. Additional amount earmarked exclusively for hospitality, and related sectors.
Credit Guarantee Trust for Micro and Small Enterprises (CGTMSE) to be revamped with required fund infusion Will facilitate additional credit of Rs 2 lakh crore for Micro and Small Enterprises and expand job opportunities.
Raising and Accelerating MSME Performance (RAMP) with an outlay of Rs. 6,000 crore over 5 years will be rolled out to enable the MSME sector to become more efficient, resilient and competitive.

Electropreneur Park, Bhubaneswar (A Centre of Entrepreneurship in Electronic System Design & Manufacturing(ESDM) ) is set up by Software Technology Parks of India (STPI) with support from Ministry of Electronics & IT, Government of India and Government of Odisha to promote ESDM Startups and create a holistic eco-system for encouraging R&D, innovation, Product development, Entrepreneurship in the ESDM sector in Bhubaneswar, Odisha.

As part of this initiative EP-Bhubaneswar with support from Bhubaneswar Smart City Ltd. (BSCL) had organized a Pan India Virtual Acceleration Program for Smart City Solutions namely Smart City Challenge & Outcome for Urban Tansformation (SCOUT 2021) and the Valedictory & Product Showcase event . The objective of SCOUT was to invite Innovative Products & Solutions from the Startups for mitigating Smartcity problems and making the city life better as well as bringing transformation through disruptive technologies.

The virtual event was graced by Shri Arvind Kumar, DG, STPI, Shri Bhuvnesh Kumar, Joint Secretary, Ministry of Electronics & IT, Government of India, Shri Sanjay Kumar Singh, Commissioner, Bhubaneswar Municipal Corporation & CEO Bhubaneswar Smart City Limited, Shri Manas Panda, Director, STPI Bhubaneswar, Shri Subodh Sachan, Director, STPI Startup and Innovation Promotion & CEO, STPINEXT, Shri K Krishna Moorthy, President cum CEO, IESA, Shri R D Pai, Excelpoint Systems Pte Ltd, Shri Dinesh Tiwari, Director-Business Development Singapore IoT Consortium,Shri Chris Heyes, Director UK India Business Council,System Integrators and Tech Partners.

In this regard, a virtual exhibition was launched by Shri Bhuvnesh Kumar, Joint Secretary, Ministry of Electronics & IT, Government of India to showcase the products of the 26 finalists developed in SCOUT

Among rewards, Cash prize up to 3 Lakhs, 2 Lakhs & 1 Lakh weregiven to the Winner(Cocoslabs Innovative Solutions), 1st runner up( Earthzy Technology Solutions)& 2nd runner up(Racketail Solutions) respectively. Individual cash prize up to INR 50 Thousand each to 4Best performing Teams(Fuselage Innovations, Malhari Projects, Backyard Creators, Ewarn Systems). Reimbursement has been made up to INR 20k per participant for Components, Development boards and other services required to making the POC. Among other Key take aways, the Winners shall get Real time implementation of POCs selected in the Hackathon.

The Program was supported by Excelpoint Systems, L&T smart world, Ashoka Buildcon, Singapore IOT Consortium, Shapoorji Pallonji, Microchip, Zeliot, Xilinx, ADI, VaanInfra, CSM Technologies, Innovative & Iwave.

Speaking on the occasion. Shri Arvind Kumar, Director General, stated that with support and collaborative efforts of Industries the mission of STPI and Electorpreneur Park-Bhubaneswar,the outcome of SCOUT will be far reaching to achieve more than the desired goals and promote Startups & entrepreneurship in the field of ESDM.
Shri Bhuvnesh Kumar, Joint Secretary, Ministry of Electronics & IT Government of India, emphasized on the boost that ESDM sector and hardware industry will achieve by 2025. Shri Sanjay Kumar Singh, Commissioner, Bhubaneswar Municipal Corporation & CEO Bhubaneswar Smart City Limited stated that SCOUT will be a launching platform for the Startups who have come up with path breaking solutions in Smart city applications and achieving the goals for ensuring better quality of life for our citizens.

Shri Manas Panda, Director, STPI-Bhubaneswar voiced on the synergizing effect for startups with Govt. body & industries in developing innovative solutions.

The meeting was moderated by Ms. Lopa Mishra Jana, Chief Operating Officer of Electropreneur Park, Bhubaneswar and Shri S.R Patra, Joint Director, STPI delivered Vote of Thanks. All Participants of SCOUT and around 200 Startups participated in the event.