The government will bring a National Data Governance policy, which will simplify the KYC process while anonymising individual data, Finance Minister Nirmala Sitharaman said on Wednesday. Presenting the Union Budget 2023-24, Sitharaman said three centers of excellence for artificial intelligence would be set up in top educational institutions.
The government would also create an Urban Infrastructure Development Fund on the lines of Rural Infrastructure Development Fund to be managed by NHB (National Housing Bank).
The finance minister also said to enhance ease of doing business, more than 39,000 compliances have been reduced and over 3,400 legal provisions decriminalized.
During the Union Budget speech in the House, FM Nirmala Sitharaman announced seven priorities of the Budget. These seven priorities are inclusive development, reaching the last mile, infrastructure and investment, unleashing the potential, green growth, youth power and financial sector.
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