In the 2023 Budget, the government introduced a plan to support the growth of the economy through initiatives such as establishing Centers of Excellence for Artificial Intelligence. The goal is to promote the development of AI in India and use it to benefit the country.
The Finance Minister announced in the Budget speech that three AI Centers of Excellence will be established in top educational institutions, with partnerships from leading industry players. These centers will focus on interdisciplinary research and the development of advanced AI applications and solutions for issues related to agriculture, health, sustainable cities, and more.
The Finance Minister further stated that the National Data Governance Policy will allow for anonymous data and the KYC (Know Your Customer) process will be streamlined through a risk-based approach.
Manoj Kumar Shastrula, the CEO and founder of SOCLY.io, commented that the National Data Governance policy, which is expected to align with the Data Protection Bill draft, is a positive step towards protecting citizens’ data and controlling its usage. However, he expressed interest in learning about the timeline for implementation and the extent to which the government will take action in case of policy violations.
Additionally, to support the youth, the Finance Minister announced that PMKVY 4.0 will be launched with the aim of providing skill training to a large number of youth within the next three years. She also stated that 30 Skill India International Centers will be set up in various states to support this effort.
The Finance Minister also mentioned that under the “Mission Karma Yogi” initiative, centers, states, and union territories are working to enhance the capacities of civil servants through specific capacity-building plans.
The government has introduced an integrated online training platform to offer ongoing learning opportunities for millions of government employees. This will enable them to upgrade their skills and adopt a people-centric approach.
The government aims to expand the digital skilling ecosystem with the launch of a unified Skill India digital platform. This platform will facilitate demand-driven formal skilling, connect with employers, including MSMEs, and provide access to entrepreneurship schemes. The goal is to provide stipend support to 4.7 million youth over the next three years.