Budget push for startups, digital economy
Digital rupee using blockchain technology will lead to stable regulated payments, settlements and lower transaction costs. “This initiative is expected to boost the digital economy and reduce leakage by reducing dependence on cash,” says Rajosik Banerjee, Partner and Head of Financial Risk Management at KPMG India.
The emphasis on digital learning was one of the main lessons of the budget. The proposed digital university with a personalized learning experience will make higher education more accessible and equitable, says Byju Raveendran, founder and CEO of BYJU’S. “I have always maintained that the digital learning gap is easier to close than the physical learning gap. The plan to connect all villages to fiber by 2025 is a welcome step.
Game startups have welcomed the proposal to form an Animation, Visual Effects, Games and Comics Task Force (AVGC). Vishwalok Nath, director of the World Esports Cup, hopes the working group can help promote the creation of a robust infrastructure for game development. “We are also looking forward to the 5G spectrum auction this year. 5G can further promote the latest innovations and mass adoption of technologies such as cloud gaming in the country,” says Nath.
In a sign of a clear push for the use of drones, the budget made the case for the use of Kisan drones for various agricultural applications. Vikram Singh, CEO and co-founder of drone delivery company TechEagle, says Kisan Drones should also involve improving access to healthcare in rural and remote parts of India using delivery of medical items by drone, as well as delivery of agricultural products from farm to warehouse for better price and transportation. “This will help in the widespread adoption of drone technology,” Singh says.
Mughilan Thiru Ramasamy, CEO and co-founder of Skylark Drones, adds that the introduction of “Drone Shakti” will ensure business momentum and accelerate the adoption of drones in the country. “India, with its vast natural resources ranging from agriculture, minerals and large infrastructure, is finally getting the much-needed boost to go digital,” says Ramasamy.