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Budget 2018: Blockchain to Artificial Intelligence, it’s push for digitisation

The aim is to transform India into a digitally empowered society and knowledge economy.

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Apart from the big bang announcements related to agriculture and health, the other key takeaway in Budget 2018 was the government’s thrust on digitisation.

From the use of blockchain technology to artificial intelligence, from encouraging people towards digital payments to internet of things, from school board to digital board, the imprint of digitisation could be seen in the Budget speech like never before.

And all this amidst, the allocation for Digital India programme that has been doubled to Rs 3,073 crore in 2018-19. This has been an ambitious programme of the government as it seeks to transform India into a digital economy.

The aim is to transform India into a digitally empowered society and knowledge economy. This will create inclusive progress in three dimensions namely digital infrastructure as utility to citizens, governance and services on demand and digital empowerment of citizens, said Jaitley.

“Global economy is transforming into a digital economy, thanks to development of cutting edge technologies in digital space – machine 20 learning, artificial intelligence, internet of things, 3D printing and the like. Initiatives such as Digital India, Start Up India, Make in India would help India establish itself as a knowledge and digital society. NITI Aayog will initiate a national program to direct our efforts in the area of artificial intelligence, including research and development of applications,” he said.

“The government will explore use of block chain technology proactively for ushering in digital economy,” he said, adding though the government does not consider crypto-currencies legal tender or coin and will take all measures to eliminate use of these crypto-assets in financing illegitimate activities or as part of the payment system.

Joe Verghese, MD, Colliers International India, said, “While the importance of AI, IT Infrastructure and research have been rightly been identified as priorities for Centers of Excellence under Digital India, there is lack of clarity on the actual investments and expected impact.”

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