Piyush Goyal had during the interim Budget 2019 announced the government’s plan to establish a National Artificial Intelligence Portal.
The finance ministry has approved the expenditure of Rs 7,000 crore for NITI Aayog’s artificial intelligence (AI) programme, the Business Standard reported.
“The expenditure finance committee has cleared the spending of Rs 7,000 crore till 2024-25. The NITI Aayog is likely to be the line ministry for this initiative. The Cabinet note is being circulated by NITI Aayog and is likely to be cleared soon,” a source told the paper.
A media report suggests that NITI Aayog and the Ministry of Electronics and Information Technology (MeitY) reportedly sparred over the think tank’s AI project. This was due to overlaps between their separate AI projects.
Moneycontrol could not independently verify the story.
NITI Aayog and MeitY have not yet responded to requests for comment by the Business Standard.
While NITI Aayog had asked for Rs 7,500 crore, MeitY provided an estimate of Rs 470-480 crore, the report said.
The expenditure finance committee (EFC) has asked both NITI Aayog and MeitY about the differences in their estimates and asked the two to find a solution, the report said.
Both departments have been told to get clarity on the matter, a finance ministry official told the paper.
Union minister Piyush Goyal, during the interim Budget 2018-19, announced the government’s plan to establish a National Artificial Intelligence Portal.Nine priority areas have been identified for the AI project, Goyal had said.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.