Shaping tomorrow with tech-powered fiscal blueprints

The Union Budget 2025-26 accelerates Al, digital infra, and deep tech, aligning investments with global trends to drive innovation and connectivity.

- BY JAIDEEP GHOSH

The Union Budget 2025-26 aims to boost consumption through targeted tax cuts and a strategic shift away from excessive dependence on large-scale public capital expenditure. The fiscal approach seeks to trigger a multiplier effect, where higher consumption fuels economic growth while ensuring fiscal consolidation, leveraging the foundation laid by previous mega investments in infrastructure.

From a technology perspective, the Budget 202526 proposals build upon and align with initiatives from recent editions, particularly the July 2024 budget. Viewed in a broader context, these measures constitute a cohesive roadmap rather than isolated announcements, driving sustainable growth.

INVESTING IN SKILLS AND DIGITAL WORKFORCE

The budget outlines significant investment in human capital, innovation, and economic growth. Key skilling initiatives include the proposal to establish five National Centres of Excellence (COE) in collaboration with global partners, expand capacity at IITs and medical colleges, enhance research fellowships at IISc and IITs, create 50,000 new Atal Tinkering Lab Incubation Centres in schools, increase funding for private-sector R&D, and provide broadband connectivity for all government schools and public health centres.

These initiatives build upon the July 2024 budget, which had announced centrally sponsored schemes to skill 20 lakh youth over five years, upgrade Industrial Training Institutes, focus on women-specific skilling, and introduce a new internship program for one crore youth in association with private enterprises.

Collectively, these measures outline a broader strategy to develop a vast pool of skilled youth professionals.