Union Budget 2022: Priority to 5G technology expected

Ahead of Union Budget 2022, which Finance Minister Nirmala Sitharaman is going to present on February 1, 2022, the telecom sector has expected certain aspects into the budgetary that they need to overcome.

According to Vikash Jain, MD and Senior Partner, Boston Consulting Group-“India is emphasizing in leveraging tech. The last two years 2020 and 2021, have been proof of the resilience of the sector. While the services-led export sector continues to be very strong, the IT industry needs to now deal with the emerging challenges with new operating, and emerging demands of talent and skills. On the other hand, we have the massive opportunity to address the informal economy( due to the surge of the pandemic), the self-employed, the SMBs(Small and Midsize Businesses), and the underserved ‘Bharat’ through tech and platforms which can create a massive virtuous cycle that can drive real transformation. In addition, 5G in telco, digital media, and manufacturing are other big themes that are playing out which will all require support and enabling policy framework to ensure this sector continues to play a pivotal role in India’s transformation story”, as per sources have reported.

Tony Verghese, Partner, J Sagar Associates said -” As various reforms have been announced in the telecom sector, there is indeed an interest on how the budget allocations will follow these reforms. There is a requirement of budgetary allocation to 5G technology with its equipment. This year space technology will also be focused on Budget with equipment manufacturing”, as per sources.