Union Budget 2018: Government to Push Research Efforts in AI, Big Data, IoT
"The Department of Science will also launch a Mission for Cyberspace"
File image of Finance Minister Arun Jaitley.
Finance Minister Arun Jaitley on Thursday announced efforts to enhance research in disruptive technologies like Artificial Intelligence (AI), Big Data, Internet of Things (IoT) and Robotics. "Niti Aayog will establish a national programme to direct research efforts in new-age technologies. The Department of Science will also launch a Mission for Cyberspace," Jaitley announced in his Budget speech in Parliament.
In addition, the Minister also announced a hike in customs duty on mobile phones to 20 percent from the previous 15 percent, in a bid to boost local value addition in domestic electronics manufacturing. Presenting the Union Budget 2018-19, Jaitley said he was making a "calibrated departure" from the usual practice of reduction in customs duties.
Even the customs duty on smart-watches and wearables has been doubled to 20 percent, while specified parts and accessories of mobile phones have seen a duty hike to 15 percent from the current range of 7.5-10 percent.
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