Modi government’s big announcement in Budget 2023 to beat China, know the complete plan

New Delhi. To beat China, the Modi government has made a big announcement. In this budget, the Modi government has increased the budget of the Ministry of Electronics and Information Technology. In fact, the Modi government has been promoting the Made in India campaign for a long time. But the Modi government’s Made in India plan was suffering due to the shortage of semiconductors. However, now the Modi government has found a solution to the Chinese dominance in the semiconductor sector. For this, the budget for making semiconductor has been increased in the budget.

40 percent increase in the budget
Finance Minister Nirmala Sitharaman had announced a budget of Rs 11,719 crore for semiconductors last year, in which this time’s budget 2022-23 has been increased by about 40 percent. In such a situation, the budget of semiconductor has increased to Rs 16, 549 crore. For which financial year 2021-22, a total allocation of Rs 8,118 crore has been made for semiconductor. Which has almost doubled this year.

China’s dominance will end
The semiconductor business is generally dominated by China, Taiwan and the US. But India faced a massive semiconductor shortage during the Russia-Ukraine war and COVID-19, which delayed the manufacturing of mobile phones and vehicles. At present, India is still completely dependent on China, America and Taiwan for semiconductors. But now the Modi government is emphasizing on the manufacturing of semiconductors in India itself, so that India’s Made in India campaign can be taken forward rapidly.