Finance Minister Nirmala Sitharama presented the Union Budget 2023 in the parliament today. The minister made some major announcements during her one-hour speech. One such announcement was the decision to set up 100 labs to develop applications using 5G services.
These labs, the minister said, will be set up in the engineering institutions. Aim of these labs will be to offer a new range of opportunities, business models, and employment potential.
“One hundred labs for developing applications using 5G services will be set up in engineering institutions to realise a new range of opportunities, business models, and employment potential. The labs will cover, among others, applications such as smart classrooms, precision farming, intelligent transport systems, and health care applications,” the minister said in her budget speech.
5G services were launched in the country in October last year. The services were launched by Prime Minister Shri Narendra Modi at India Mobile Congress. At present, Reliance Jio and Airtel are the two telecom operators offering 5G services in cities across the country.
Recently, Jio expanded its 5G network to 34 more cities, taking the total number to 225. Airtel , on the other hand, currently has its 5G services available in more than 60 cities.
In her budget speech, the minister also said that the government will support battery energy storage systems with a capacity of 4,000 MWH. “To steer the economy on the sustainable development path, Battery Energy Storage Systems with capacity of 4,000 MWH will be supported with 18 Viability Gap Funding. A detailed framework for Pumped Storage Projects will also be formulated,” FM said.
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