The finance minister spoke about the importance of domestic production of smartphones and other electronics.
Finance Minister Nirmala Sitharaman presents 2020 budget.
Finance Minister Nirmala Sitharaman presented her second annual budget for the whole year in parliament today. The new budget has been broadly divided into three main themes: ambitious India, economic development and building a caring society that is human. In its 2020 economic report released on Friday, the Union government forecast that economic growth would accelerate to 6.0% to 6.5% in the fiscal year from April 1, but warned that the deficit target may need to be exceeded to to revive growth.
Sitharaman spoke about how much electronics manufacturing has contributed to job creation. "Domestic electronic goods production needs to be increased, and we should encourage the country to manufacture cell phones and semiconductors."
For some time now, the government has been very vocal about smartphone manufacturers that manufacture mobile phones in the country. Important smartphone players such as Samsung, Xiaomi, Oppo and others have adhered to the “Make in India” program. The sector that really needs attention is the semiconductor industry, as it is mainly dominated by US and Chinese companies.
The finance minister also mentioned that more than 550 train stations across the country are now equipped with WiFi, and more will be added this year. When you remember that RailTel chose Google as its technology partner to build fast Wi-Fi networks to provide fast Wi-Fi to millions of passengers every day. Wi-Fi services for passengers are provided via "Railwire", RailTel's retail broadband distribution model.
As an extension, Sitharaman spoke about the need to digitize public services, including police stations and post offices, that allow the public to operate quickly.
It has also been proposed to replace all electricity meters with smart prepaid meters, where consumers have the choice to analyze and choose a plan that suits their needs. It is noteworthy that most of the new apartments in Noida have already implemented these counters.
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