According to the Indian Union Budget, a 5G airwaves auction would be launched in 2022, according to the finance minister

* Paromita Das

Finance Minister (FM) Nirmala Sitharaman announced during her statement in parliament on Tuesday for the Indian Union Budget 2022-23 that the country will sell 5G airwaves this year. In 2022-23, it will begin to put out next-generation telecoms services.

“Spectrum auctions will be held in 2022 to allow private telecom companies to roll out 5G mobile services in 2022-23,” Sitharaman stated.

She went on to say that the telecommunications industry, in general, and 5G in particular, can both facilitate growth and provide job possibilities.

“As part of the production-linked incentive plan, a scheme for design-led manufacturing will be established to build a robust ecosystem for 5G,” the FM added.

Five percent of annual receipts under the universal service requirement fund will be dedicated to enabling affordable broadband and mobile services in rural and isolated locations, she said.

“This will encourage technology and solution R&D and commercialization. Our goal is for all villages and their citizens to have the same access to e-services, communication facilities, and digital resources as city dwellers “according to the FM.

The minister added that the contract for laying optical fiber in all villages will be granted through the BharatNet PPP project in 2022-23.

“The project is expected to be completed in 2025. Measures will be conducted to make the optical fibre more effective and efficient “according to the FM.

 

In January 2022, India’s finance minister congratulated taxpayers on the highest-ever GST collection.

On the back of the country’s impressive economic recovery, India’s Finance Minister Nirmala Sitharaman praised the country’s tax-payers, announcing that GST revenues had reached a new high of Rs 1.4 trillion.

India’s finance minister proposed the Finance Bill 2022 in Parliament with the goal of putting the pandemic-ravaged economy back on track to development.

It’s worth noting that January is the eighth month in a row that the GST collection has surpassed Rs 1 trillion.

 

During her Budget 2022-2023 statement, Sitharaman stated that while the GST system has made significant progress, there are still a few problems. “Gross GST collection in January at record Rs 1,40,986 crores; this has been feasible due to quick economic recovery,” she said.

In terms of the economy, Sitharaman stated that India’s growth is expected to be 9.2%, the highest among the global economies, because the country is now well-positioned to face difficulties such as the coronavirus (COVID-19).

The finance minister also stated that the country is experiencing an Omicron wave, but that the rapid immunisation programme has substantially aided the situation. “I am optimistic that ‘Sabka Prayaas’ will continue to expand,” she remarked.