Union Budget 2020: Industry players cheer on tax benefits, advanced tech push

Calling data as the new oil, Finance Minister Nirmala Sitharaman during her Budget speech announced the launch of a new policy to set up data centre parks for enabling digitisation of all public institutions in the country. While announcing the allocation of Rs 6,000 crore to the BharatNet programme, Sitharaman also said that advanced technology such as Artificial Intelligence, Machine learning, cloud computing, drones are disrupting the existent business models and rewriting the world economic order. "Data now is clearly the new oil. I propose a policy to set up data centre farms throughout the country. The idea is to skilfully incorporate data in every step of the value chain," she said.