Union Budget 2022 seems to be aiming at realising dream of making Digital India and hence has introduced terms like Digital currency, Digital University and Digital Service for farmers. The EBNW Story studies what digital currency, digital university and digital service for farmers…
Digital Rupee
India will be one of the world’s largest economies to introduce central bank digital currency (CBDC) if it maintains to stick to its plans, following the footsteps of China which is in news to test its digital Yuan
India’s central bank shall issue a digital rupee in the 2022-2023 financial year which begins Apr. 1.
As per finance minister Nirmala Sitharaman, the introduction of the digital rupee would be based on “blockchain and other technologies.”
Digital University
A digital university will be established to provide access to the world-class quality universal education with personalised learning experience to students throughout the country at their doorsteps.
This digital university that the Centre plans to set up will be based on a networked hub and spoke model. The hub and spoke model here refers to a distribution method in which everything gets originated at a centralised ‘hub’ and then travels to small locations, ‘spokes’, for its final consumption.
In this case, the ‘hub’ refers to the country’s best public universities and institutions while the ‘spokes’ mean each individual student who will consume knowledge generated by the hubs at home via the digital medium.
Digital aid for farmers
The Centre shall promote Kisan Drones along with chemical-free natural farming, public-private partnerships for the delivery of digital and high-tech services to farmers across the country during the financial year 2022-23.
“The use of Kisan Drones to be promoted for crop assessment, digitization of land records, spraying of insecticides and nutrients,” said Nirmala Sitharaman.