Hello guys!!! Today I am here with the latest 2018 Budget present by the Finance Minister Mr. Arun Jaitely. I am not a profession economic person but I can tell u my opinion of 2018 Budget Technology Effect.
Budget is the most important thing for the growth of the country.
This will help you to predict your future growth of the country. India is growing very fast in the technology field nowadays.
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2018 Budget Technology Effect
1) Technology in Indian railways
- As you all know that our current prime minister Mr. Narendra Modi is also supporting Digital India.
- nowadays, there are so many stations are having wifi service.
- This 2018 budget came up with so many good things for Indian railways.
- Google will provide high-speed Internet services at 600 stations until March 2018. In just 1 year it will increase its 8500 stations in India. Almost every station in India will be having internet service.
- There are plans that they will provide wifi service and digital CCTV cameras on every train.
- They will use safety devices to track maintenance and Fogg safety devices.
- In 2018 budget Indian government spends 1 lakh 48 thousand crore rupees for the development of technology in Indian Railways.
2) 99 Smart City Development
- 2018 budget is planning with 99 smart city development in India.
- Its a biggest project in history in the development of cities.
- These cities are implementing various projects like smart command and control center, smart roads, solar rooftops, intelligent transport systems, and smart parks.
- The budget for this is 2 lakh 4 thousand crore rupees.
3) 5 Lakh Wifi hotspots
- The task of connecting one lakh gram panchayats through high-speed optical fiber network has been completed under the phase of the Bharatnet project.
- The Government also proposes to set up five lakh WiFi hotspots which will provide broadband access to five crore rural citizens.
- This has enabled broadband access to over 20 crores rural Indians in about 2,50,000 villages.
- There is a plan of creating wifi coverage all over India till 2020.
4) Cryptocurrency Is Not A Legal Tender
- While the government does not consider cryptocurrencies legal tender.
- It will explore the use of blockchain technology proactively for ushering in the digital economy.
- We can buy sell cryptocurrencies but it can not be allocated as legal tender.
- For the first time, a Union Budget speech has talked about cryptocurrencies and blockchain technology.
- Government is clearly focused on bringing in regulations on cryptocurrencies.
- The government has again clarified that cryptocurrencies are not legal tender.
- This means they are not a currency.
- It doesn’t mean that holding cryptocurrencies such as bitcoin is illegal or banned.
- We can not use cryptocurrencies like bitcoin other money for the transaction.
5) Import Duties On Mobile Devices
- The customs duty on both mobile phones and mobile phone parts have been increased from 15 % to 20%.
- The move is to impact manufacturers who import mobile phone parts into the country and who are importing spare parts.
- Chinese player OnePlus said that over 85% of its mobiles are made in India.
- This is the opportune time to introduce the next set of regulations to attract investment in the manufacturing sector and establish India as a global hub for electronics.
So guys, this are some 2018 Budget Technology Effect.
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