Interim Budget 2024-25 Proposes a Corpus of 1 Lakh Crore to Boost Sunrise Technologies | Current Affairs | Vision IAS
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    Interim Budget 2024-25 Proposes a Corpus of 1 Lakh Crore to Boost Sunrise Technologies

    Posted 02 Feb 2024

    Updated 18 Mar 2024

    2 min read

    • Corpus will be established with a fifty-year interest-free loan.
      • It will provide long-term financing or refinancing with long tenors.
      • It will encourage the private sector to scale up research and innovation
        • India’s R&D spending as a percentage of GDP (0.7%) is lower than countries like South Korea, Israel, etc.
      • Also, it will help in enabling high-quality services at affordable prices for all. 

     

    • Sunrise technologies includes emerging technologies which are currently in their nascent stage of development but have immense potential to offer in future. 

     

    • Opportunities of Sunrise Technologies
      • Healthcare: Early disease detection, personalized medicine using AI, etc.
      • Agriculture: Precision agriculture using drones and sensors, data-driven crop management, etc.
      • Finance: Data protection using Blockchain-based solutions.
      • Manufacturing: Robotics and automation can enhance efficiency and productivity.
      • Other: Logistic Efficiency, Drone-based mapping, telemedicine, e-governance, etc. 

     

    • Major Steps Undertaken by Ministry of Electronics & Information Technology (MEITY)
      • India AI, implemented with the help of National Program on Artificial Intelligence. 
      • National Blockchain Strategy (2021) 
      • Centre of Excellence on Internet of Things and Blockchain Technology, etc.

     

    • Also, a new scheme has been announced for strengthening deep-tech technologies defence purposes and expediting Atmanirbharta.
    • Tags :
    • Sunrise Technologies
    • Interim Budget
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