Budget booster for tech-economy

|
  • 0

Budget booster for tech-economy

Friday, 03 February 2023 | Nidhi Bhasin

Budget booster for tech-economy

The Finance Minister has done well to give a fillip to the tech-based skills in the budget to give a leg up to the economy

This ‘techade’ (decade of technology) will serve as an important period to close the gaps in digitization and accelerate growth in the nation’s technology sector. 2023 has been identified as a crucial year for the elimination of the digital divide, as stated in The NITI Aayog ‘India @ 75’ report, and aggressively strengthening digital literacy, specifically among rural demographics and marginalized communities, is of the essence. The Union Budget 2023-24, steered by Finance Minister Nirmala Sitharaman, by placing emphasis on both inclusive development and youth empowerment among its key economic priorities, sets a positive tone for the way forward.

Several progressive initiatives were announced during the Budget presentation, including the expansion of the Skill India Digital platform and its linking with employment and entrepreneurship opportunities, the launch of the Pradhan Mantri Kaushal Vikas Yojana 4.0 to skill lakhs of youth in modern technologies like AI, robotics, and soft skills would enable future-ready talent, especially from Tier 2 and 3 cities at scale and foster greater employment opportunities. Entrepreneurship has been given a major fillip through the introduction of collectives formed to support entrepreneurs with product design, branding, product marketing, and market expansion. The efforts of mobilizing resources and enabling entrepreneurship opportunities for rural women will be instrumental in facilitating better livelihoods for marginalized communities. As the technology and skilling ecosystem joins the nation in formulating its vision for ‘India @ 100’, considering current systemic realities and strategizing solutions to bridge crucial gaps is the need of the hour. The NITI Aayog, in its ‘India @ 75’ report, identifies a few of these challenges that need to be overcome in order to support the empowerment of marginalized demographics: a) limited industry knowledge and immersion among graduates, b) little to no integration of the informal sector into the skill economy, c) limited provisions to align skilling certifications with international parameters, d) limited avenues for an apprenticeship, e) little to no inclusion of vocational training as a part of the educational curriculum. Achieving inclusive digitization, catalyzing rural women’s empowerment, and accelerating the pace of skilling would call for a comprehensive strategy rooted in an understanding of the complex issues facing each priority area.

Social stigma prevalent in sections of rural society prevents women from gaining access to mobile devices, let alone having access to the internet. Research conducted by J-PAL in Niger reveals that families with women members having access to mobile devices and the internet contributed greatly to their agency in family decisions. Empowering women through access to technology and quality entrepreneurship opportunities has a ripple effect on the local community and the economy at large. Lessons from grassroots initiatives also reveal that connecting digitization and skilling initiatives to a strong objective had a higher degree of success among women beneficiaries. Rural women, for instance, had a greater chance of acquainting themselves with the internet in order to support their children’s education. Encouraging the use of mobile technology among women and sustaining a well-knit entrepreneurial ecosystem with provisions for knowledge sharing can help counter social stigma and restrictive gender ideas.

The Budget announcements tailored to increase the knowledge base of the rural youth can be further complemented by incentives for apprenticeship and mentorship programs. The Union Budget for the previous financial year laid the foundation for digital skilling through initiatives such as the DESH Stack e-portal and the launch of several online courses aimed at increasing employability among the youth and equipping them with the tools to build a stable livelihood. Aligning the National Skill Qualification Framework (NSQF) with the evolving requirements of multiple industries was also a priority. Apprenticeship programs incentivize rural youth to gain employment experience in close proximity to their place of stay and subsequently enrich their community’s skill base. Mentorship programs can help them be aware of the career opportunities awaiting them and give them access to hands-on training that will enhance their growth prospects. More rural youth can be included in the skilled talent pool of India by way of these initiatives.

 Acknowledging and understanding the heterogeneity of rural demographics is the first step toward designing, strategizing, and deploying solutions. Placing the user at the center of any intervention and facilitating its seamless integration into their routines are crucial to their success. In a similar vein, programs such as Aspirational Districts and the newly announced Aspirational Blocks Programme can efficiently close the key infrastructure and knowledge gaps in rural regions. Maintaining the momentum of digital skilling drives and expanding its ambit to demographics that have little to no access to the internet or cell phones will remain a key priority for 2023 and the years to come. With the appropriate Budgetary push both at and Union and State levels, many of the challenges that hamper the expansion of upskilling programs can be effectively addressed. All round-stakeholder participation will be required to support the budgetary initiatives and make inclusive digitization a reality.

(The writer is CEO NASSCOM Foundation, a social development sector professional. The views expressed are personal)

Sunday Edition

Astroturf | Reinvent yourself during Navaratra

14 April 2024 | Bharat Bhushan Padmadeo | Agenda

A DAY AWAITED FOR FIVE CENTURIES

14 April 2024 | Biswajeet Banerjee | Agenda

Navratri | A Festival of Tradition, Innovation, and Wellness

14 April 2024 | Divya Bhatia | Agenda

Spiritual food

14 April 2024 | Pioneer | Agenda

Healthier shift in Navratri cuisine

14 April 2024 | Pioneer | Agenda

SHUBHO NOBO BORSHO

14 April 2024 | Shobori Ganguli | Agenda