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Union Budget 2024 to Focus on Artificial Intelligence Push

  • 13 Jan 2025 11:03 AM
  • Union Budget 2024, artificial intelligence, Budget proposals

The Union Budget for the upcoming financial year is expected to include provisions for promoting artificial intelligence (AI) in India. According to sources, a special policy package for AI is being formulated, with a focus on AI-skilling schemes and the establishment of AI centres. Additionally, the budget is likely to allocate funds to support these initiatives, ensuring measures are in place to safeguard employment in light of AI's rapid advancement.

The Ministry of Finance has been in discussions with the Ministry of Electronics and Information Technology, along with key industry stakeholders, to finalize AI-related proposals for the Budget. These discussions are expected to include initiatives related to AI-driven entrepreneurship and the broader societal impact of the technology.

The government has already shown its commitment to AI with previous budget allocations, including Rs 551.75 crore towards the IndiaAI mission in July 2023. Additionally, the Cabinet approved a five-year outlay of Rs 10,372 crore for AI initiatives in 2024.

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