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Budget 2023: IT ministry receives a 40% hike in allocation on semiconductor push

The semiconductor development programme of the government has been given a budget estimate of Rs 3,000 crore from the Rs 200 crore in the revised estimate last year. PLI scheme for large scale electronic manufacturing also received a whopping over Rs 4,000 crore estimate

February 01, 2023 / 17:26 IST
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Representative image.

With a number of policies for the digital sphere on the anvil, and to bolster initiatives like that of Make-in-India semiconductors, the government has increased the budget estimate for the Ministry of Electronics and Information Technology to Rs 16, 549.04 crore from the Rs 11,719.95 crore revised estimate of 2022-23, translating to a 40 percent increase.

The actual allocation for the period of 2021-22 stood at Rs 8,118.65 crore, making this year's budget estimate nearly double of what it was two years back.

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Majority of the Rs 16,549.04 crore budget estimate, around Rs 12,440 crore, has been reserved for schemes and projects under the ministry such as Digital India Programme, Modified Programme for Development of Semiconductors and Display Manufacturing Ecosystem in India and so on.

What is notable is that the Digital India Programme has been given a reduced budget estimate for this year when compared to the 2022-23 revised estimate. While in 2022-23, the revised estimate for Digital India stood at Rs 7,603 crore for Budget 2023-24, the estimate was lowered to Rs 4,795 crore.