Budget 2024-25: MeitY's budget outlay soars up to 52% to Rs 21,936 crore
By MYBRANDBOOK
The Union Budget 2024-25 has allocated Rs 21,936 crore to the Ministry of Electronics and Information Technology (MeitY). This is a boost of 52 per cent from the revised estimates of FY24, which stood at Rs 14,421 crore. MeitY runs multiple incentive schemes and programmes in areas such as semiconductor manufacturing and design, electronics manufacturing and India AI Mission, among others.
Among different departments of the ministry, the modified scheme for setting up compound semiconductors; silicon photonics; sensors fab; discrete semiconductor fab; semiconductor assembly, testing, marking and packaging (ATMP) and outsourced semiconductor assembly and test (OSAT) facilities in India saw the highest allocation at Rs 4,203 crore from Rs 1,424 crore in the revised estimates of FY24.
Further, the modified scheme for setting up of semiconductor fabs in India has an outlay of Rs 1,500 crore for the financial year 2024-25. The production-linked incentive (PLI) scheme for large scale electronics manufacturing outlay has also increased from Rs 4,489 crore in the revised estimates to Rs 6,125 crore in FY25.
The government has allotted an amount of Rs 511 crore for the India AI mission in FY25.
The National Informatics Centre (NIC), which looks after e-governance and digital infrastructure under MeitY, has been given an outlay of Rs 1,748 crore, up from Rs 1,552 crore in revised estimates last financial year.
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