Union Finance Minister Nirmala Sitharaman on Saturday termed 'data as the new oil' while asserting that Analytics, Fintech and internet of things (IoT) are changing the way we deal with our lives.
Minister in her address in Parliament said government will bring out a policy to enable private sector in building Data Centre Parks throughout the country.
The government has also allocated Rs 6000 crore to Bharatnet Programme in 2020-21.
She said that 1 lakh gram panchayat will link with Fibre to the Home (FTTH) connections through Bharatnet.
In her speech, she mentioned that Knowledge Translation Clusters will be set up across different technology sectors including new and emerging areas.
She also proposed to provide early life funding, including a seed fund, to support ideation and development of early-stage Start-ups.
Presenting 2020-21 budget the minister announced an outlay of Rs. 8000 crore for the National Mission on Quantum Technologies and Applications over a period of five years.
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