Budget focuses on sunrise sectors, say PM Modi

New Delhi March 2

Prime Minister Narendra Modi on Wednesday said the emphasis of the budget of the next fiscal is on sunrise sectors and asked industry captains to focus on it.

He posted artificial intelligence, geo-spatial systems, drones, semiconductors, space technology, genomics, pharmaceuticals and clean technologies to 5G as future growth sectors.

Modi was speaking at a webinar on budget targets. He said the Budget lays down a clear roadmap for 5G spectrum auction.

For the government science and technology is not an isolated sector. In the field of economy, the vision is linked with areas like digital economy and fin-tech.

Similarly, Modi said advance technology had huge role in infrastructure and public service delivery-related vision.

“Technology for us is a medium to empower the people of the country. For us, technology is the mainstay of making the country self-reliant. The same vision is reflected in this year’s budget as well,” the Prime Minister said.

He talked of President Biden’s latest address to underline the importance of Aatmnirbharta as developed countries like the US are also talking about this. “In light of the emerging new global systems, it is critical that we move forward with a focus on aatmnirbharta,” he said.

“We are familiar with the principles of science, but we have to emphasise on how to make maximum use of technology for the ease of living,” he said.

He mentioned investment in house constructions, railways, airways, waterways and optical fibres. He called for ideas of using technologies in these important areas.

Noting the expanding global market for gaming, the Prime Minister said that the budget had focussed on Animation Visual Effects Gaming Comic (AVGC). Similarly he also stressed the need to have toys adapted to Indian milieu and needs. Stressing the centrality of communication centres and fintech, the Prime Minister asked for indigenous ecosystem with less foreign dependence for the both.

The Prime Minister also exhorted the private sector to take maximum advantage of change of rules for the use of geo-spatial data and the infinite opportunities that have emerged due to the reform.