“Budget 2022-23: Futuristic with Scientific Vision and Start-Up Incentives”

General Budget 2022-23 is “Futuristic with scientific vision and Start-Up incentives”, said Union Minister of State (Independent Charge) Science & Technology; Minister of State (Independent Charge) Earth Sciences; Minister of State PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr Jitendra Singh. He was briefing the media about the budget implications for the Ministries and Departments dealt by him, on Tuesday.

The Minister took special note of the fact that a small Ministry like Earth Sciences has been allocated a budget of Rs. 2,653.51 crore, which is in addition to Rs. 4,000 crore allocated earlier for the Deep Sea Mission. This only indicates Prime Minister Modi’s belief that the economy of future India is going to be hugely dependent on ocean and sea resources, he said.

Similarly, Dr Jitendra Singh said, the budget allocated for the Ministry of Science & Technology is Rs.6,000 crore, out of which the Department of Biotechnology gets Rs.2,581 crore and this is the Department, which has been conducting trials on DNA Vaccine earlier and now on the Nasal Vaccine.

The hallmark of the budget, said the Minister, is that nearly every announcement or initiative reflected in the budget has a strong bearing on scientific technology and innovation. In this regard, he referred to the announcement of innovative new initiatives like Digital Rupee linked with technology, Digital Banking units in 75 districts, Digital University and StartUps linked to Artificial Intelligence, Space Technology, etc.

General Budget 2022-23 is Futuristic with scientific vision and Start-Up incentives, said Union Minister of State (Independent Charge) Science & Technology; Minister of State (Independent Charge) Earth Sciences; Minister of State PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr Jitendra Singh. He was briefing the media about the budget implications for the Ministries and Departments dealt by him, on Tuesday.

The future roadmap for the coming years, said Dr Singh, also reflects in some of the StartUp initiatives announced by the Finance Minister. These, for example, include exemption of tax for StartUps for another one year i.e. upto 2024, he said.

The emphasis on Drones including “Drone Shakti” through StartUps and utilisation of Kisan Drones in the agriculture sector is bound to give India headway over other nations of the world, said Dr Jitendra Singh.

For the promotion of StartUps, the Budget provides for export incentivisation and domestic production incentivisation, observed the Minister.

Dr Jitendra Singh recalled PM Narendra Modi’s concern about climate change expressed in COP 20 and pointed to reference in today’s budget speech to Low Carbon Development strategy. He said, the Science Ministries have been given a boost by PM Modi in carrying forward the Hydrogen Mission.