The Union Budget has rightly recognised the importance of emerging technologies in realising India's full potential, executives of technology companies have stressed.

"The Union Budget highlights the role technology-enabled innovation can play in leapfrogging the nation," Prakash Mallya, VP, and MD -- Sales and Marketing Group, Intel India, said in a statement.

"From integration in priority sectors like agriculture and healthcare to a continued focus on smart cities, the first budget of the new decade clearly outlines the significance of a digital-first India in realising the country's potential," Mallya added.

Finance Minister Nirmala Sitharaman on Saturday announced an outlay of Rs 8,000 crore over a period of five years for the National Mission on Quantum Technologies and Applications, and Rs 6,000 crore for the Bharatnet programme to link 100,000 Gram Panchayats.

She observed that technologies like Artificial Intelligence, Internet-of-Things (IoT), 3D printing, drones, DNA data storage, quantum computing, etc., are re-writing the world economic order.

Sitharaman further said that health authorities and the medical fraternity can target disease with an appropriately designed preventive regime using machine learning and AI, in the Ayushman Bharat scheme.

She stressed that data must have strong credibility and highlighted that the proposed new National Policy on Official Statistics would use latest technology including AI.

"With the government's target of a $5 trillion economy by 2024, Intel believes that technologies like AI, Internet of Things (IoT), and ML will continue to play a pivotal part in this journey," Mallya said.

"As digitisation and advanced technologies continue to gain momentum, we welcome the Budget 2020 announcements. Once again, the Finance Minister's emphasis on machine learning, robotics, AI and IoT will help boost India's digital journey. A significant proportion from the allocation of Rs 3,000 crore for skill development should focus on these cutting-edge technologies," said Aakrit Vaish, CEO, Haptik.

The Finance Minister also said that a policy to enable private sector in building data centre parks throughout the country will be revealed soon.

"Initiatives such as building data centre parks across India aiming to safeguard 'data', the most critical asset of organisations along with the digitisation of 100,000 Gram Panchayats through its Bharatnet initiative will strengthen the digital fabric of the country," said Sunil Sharma, Managing Director, Sales, Sophos India and Saarc.

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