The Make In India week drew large investments, with a lot of mobile handset manufacturers joining the movement, including Samsung, Lenovo and Foxxconn. Modi had announced an action plan for growing entrepreneurship in the 'Startup India' event. Last month, Jaitley had said that the union budget will be startup-friendly this year.
Apple is looking to to open their own stores in India and companies like OnePlus and Le coming to India for mobile manufacturing. Here are the key initiatives on the tech industry from budget 2016.
- The Government decided not to distribute hard copies of the budget under Green MoF.
- E-marketing platform for farmers will be launched. That platform will help them for online procurement and selling.
- Schemes for digitalizing land records and money for roads will also take place.
- Two digital literacy schemes announced under Digital India initiative. "In rural areas, 6 crore households will have digital literacy in next 3 years", said Jaitley. The scheme to be called National Digital Literacy Mission Scheme.
- Special patent regime proposed to power innovation and rese.
- The Scope of e-Assesment to be expanded to 7 mega cities.
- The finance department will use data analytics to catch the tax evaders.
— PIB India (@PIB_India) February 29, 2016
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