2024 Budget: Transformative Changes Across Key Sectors

Introduction The technology sector is a key driver of economic growth and innovation. The 2024 budget has introduced several initiatives aimed at fostering technological advancements and supporting the tech industry.  In this blog, we will explore the key elements of the budget related to technology and analyze their potential impact on the sector. Key Provisions Free Electricity for Households : One crore (10 million) households will receive up to 300 units of free electricity monthly through rooftop solarization, promoting renewable energy adoption​​. Funding for Research and Innovation : A substantial corpus of ₹1 lakh crore has been allocated for long-term financing and refinancing, with minimal or no interest rates, to encourage private sector research and innovation​. Support for Deep Tech and Defense Technologies : A new scheme will support deep tech technologies for defense and export, aligning with the Aatmanirbhar Bharat initiative to foster self-reliance​​. Expansion of ...