Union Budget – Reaction

“The Union Budget for 2023 sets the stage for a growth-friendly strategy with a vision of a technology-driven and knowledge-based economy in the post-pandemic world. As the budget focuses on seven pillars of growth with a three-pronged approach to facilitating ample opportunity for citizens, especially the youth, providing a strong impetus to the development and job creation, and stabilizing the macroeconomic environment, we are well-positioned to tackle difficulties and prosper in the new normal.

This year’s budget provides us with a forward-looking blueprint for India’s resilience, competence, and innovation. The Centre emphasizes on ensuring the community’s overall progress through technology and digitalization. By offering new-age courses in 3D Printing, drones, coding, Robotics, AI, etc, through Kaushal Vikas Yojana or developing 30 Skill India International centers, India could further strengthen its position as the ultimate destination of top talent. I am pleased with the Centre’s measures for Make AI for India and Make AI Work for India, intended to encourage innovation in AI. The establishment of three Centres of Excellence for Artificial Intelligence at prestigious educational institutions coupled with leading industry players partnering to conduct research and develop cutting-edge applications would unleash the potential of the Indian economy. As a result, India will be able to create an effective AI ecosystem as well as nurture skilled AI professionals. This is also a significant step in promoting financial inclusion in India, allowing industries across sectors to become more accessible to a broader segment of the population.

Innovation is at the core of this year’s budget as the government takes its digital India initiative to the next level with the deployment of 5G services and a new program to promote R&D in pharma. In addition, the Data Governance Policy will be launched this year to enhance startup and academic research and innovation. Thus, we are indeed on a highway to building an open, digital, and inclusive India in the coming years.”

Deepak Visweswaraiah

Vice President, Platform Engineering, and Site Managing Director,

Pegasystems, India.

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