Finance Minister Nirmala Sitharaman said at the Union Budget 2022-23 address on Tuesday that 5G mobile services rollout will begin in 2022-2023 . 5G spectrum auctions will take place this year, while a PLI scheme for 5G services was also announced. Sitharaman also said rural broadband is also planned to be expanded.
‘To enable affordable broadband and mobile service proliferation in rural and remote areas, five percent of annual collections under the universal service obligations fund will be located. This will promote R&D and commercialisation of technologies and solutions’, the finance minister said.
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Speaking on BharatNet connectivity project, Sitharaman added- ‘Our vision is that all villages and the residents should have the same access to E services, communication facilities and resources as urban areas and their residents the contracts for laying optical fibre in all villages, including remote areas will be awarded under the Bharat NET project through PPP in 2022-23. Completion is expected in 2025’.
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Finance Minister further announced during the Budget session that digital rupee will be issued using blockchain and other technologies by RBI, starting 2022-23. This will give a big boost to the economy, she added. The FM also said that an online bill system to be launched which will be used by all Central ministries, to reduce the delay in payment. Nirmala Sitharaman also said that e-passports with embedded chip and futuristic technology will be rolled out in 2022-23 to help citizens in their overseas travel.
She further proposed that any income from transfer of any virtual digital asset shall be taxed at the rate of 30%. ‘No deduction in respect of any expenditure or allowance shall be allowed while computing such income, except cost of acquisition’, Nirmala Sitharaman said.
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