Animation, Visual Effects, Gaming, and Comics: A task force will be launched for serving the market.
Telecom sector: Spectrum auctions will be conducted in 2022 for 5G rollout. A scheme for manufacturing under 5G will be set up under the Production Linked Incentive scheme. 5% of annual collections under the USO fund will be allocated. This will be used for R&D. Completion of BharatNet is expected under 2025.
Data centres and energy storage projects will be provided infrastructure status, Sitharaman said, paving the way for them to get easier financing.
Central bank digital currency: The RBI will begin issuing its long-mulled digital rupee currency using blockchain technology in this fiscal year.
Startups: Tax incentives will be provided for one more year to startups that had already been extended through 2023, in view of the COVID-19 pandemic.
Virtual Digital Asset taxation: Cryptocurrencies and other “virtual digital assets” will be taxed at 30%. No deduction will be allowed while computing this except cost of acquisition. Loss from such acquisition cannot be set off against any such income, Sitharaman said. Gifts of these VDAs will also be taxed.
Customs administrations of Special Economic Zones will be “fully IT driven” with only risk-based checks, the government announced.
