Finance Minister Nirmala Sitharaman has increased the allocation to information technology (IT)/IT-enabled services (ITeS) industries by over 8 percent to Rs 130 crore in the interim Budget 2024-25.
The amount was revised to Rs 120 crore for 2023-24 from the initial outlay of Rs 150 crore.
"Two schemes (NEBPS and IBPS) under IT for jobs pillar have been launched under Digital India Programme to incentivize BPO (business process outsourcing)/ITES operations across the country, particularly digitally deficit areas for creation of employment opportunities for the youths and the balanced regional growth of IT/ITES Industry," the government said in the document titled Notes on Demands for Grants, 2024-2025.
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The North East BPO Promotion Scheme (NEBPS) and India BPO Promotion Scheme (IBPS), launched in 2017, aims to provide financial support in the form of viability gap funding to eligible companies.
The government also increased its budgetary allocation in cybersecurity projects by almost 90 percent to Rs 759 crore for 2024-25.
The objective of the scheme is to adopt a holistic approach towards securing the cyber space of the country by pursuing multiple initiatives like security policy, compliance and assurance, security, incident-early warning & response, security training, enabling legal framework and collaboration.
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