Budget 2022: PLI Scheme to be launched for manufacturing in 5G

Budget 2022: Finance Minister Nirmala Sitharaman announced 'green bonds' for 'green infrastructure' (Image credit: @ANI/Twitter)

Finance Minister Nirmala Sitharaman in her Union Budget Speech 2022-2023 has announced that design-led manufacturing in 5G will be launched as a PLI Scheme in the upcoming fiscal year. The required spectrum auction for 5G rollout will also be conducted in FY22-23, said the FM.

She also informed that the contracts for laying optical fibres via the PPP mode will be awarded in FY23. This will happen under Bharat Net and its completion is expected in FY2025.

Finance Minister Nirmala Sitharaman presented the Union Budget for the upcoming fiscal year of April 2022- March 2023 in Parliament on February 1. This is the fourth budget that Sitharaman is presenting and third budget being presented while India still reels under the impact of the COVID-19 pandemic.

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"This budget seeks to lay the foundation and a blueprint to steer the economy over 'Amrit Kaal' of the next 25 years from India at 75 to India at 100", said the FM while presenting the budget.