Budget 2022: During the Union Budget 2022-23, Finance Minister Nirmala Sitharaman announced the auction of the 5G spectrum will take place in 2022. The 5G services are announced to be available in the country by FY 2022-23.

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“Telecommunications in general and 5G technology, in particular, can enable growth and offer job opportunities. Required spectrum auctions will be conducted in 2022 to facilitate the roll-out of the 5G mobile services within 2022-23 by private telecom providers.”, said FM Nirmala Sitharaman in her Budget speech.

Reactions on budget 2022:

Xiaomi Spokesperson said: "The budget 2022 announced today will truly make India a digital-enabled and an Atmanirbhar economy. The initiatives aimed at driving innovation and manufacturing are a great impetus towards aiding the boom of the electronics and telecom industry of the country - helping promote economic growth, create jobs.

 "We are excited about the government’s commitment to roll out 5G by 2023, which will head into a new year of interconnected devices, making India future-ready. In addition, the scheme for design-led manufacturing to build a strong ecosystem for 5G, will further boost local innovation in the domain. Xiaomi India has been one of the early adopters of the Prime Minister’s Make in India Initiative. While we have been ramping up on local manufacturing, since 2021, we have been focusing on locally sourcing components like camera sensors, batteries etc. We are also working actively to localise manufacturing of wearables & hearables in the country to further strengthen our local manufacturing," the Spokesperson further added.

Sanmeet Singh Kochhar - Vice President -India & MENA, HMD Global said: "HMD Global welcomes the Union Budget 2022 as it strengthens the digital India push. We are glad that the Government of India, is accelerating the digital economy with an impetus to building the telecommunications infrastructure."

"With 5G technology implementation within 2022- 23 by private telecom providers, we foresee propelling growth and a huge opportunity presented for the demand of 5G enabled devices. 5G will unleash new economic opportunities and societal benefits giving it the potential for being a transformational force for Indian society," Kochhar further added.

Additionally, Finance Minister Nirmala Sitharaman said that the Reserve Bank of India (RBI) will issue Digital rupee in the upcoming year 2022-23. The finance minister said the central bank would issue a digital rupee using blockchain and other technology. The RBI will implement it around 2022-23.

Digital rupee to be issued using blockchain and other technologies; to be issued by RBI starting 2022-23. This will give a big boost to the economy": FM Nirmala Sitharaman

"#DigitalRupee is a historical decision by govt led by visionary PM  @narendramodi Ji. This will give a boost to the economy. Digital currency will lead to a more robust, efficient, trusted, payments option. It will reduce dependency on cash, and increase seigniorage to the nation," Madhya Pradesh Chief Minister Shivraj Singh Chouhan.

Industry expert - Faisal Kawoosa, founder analyst at TechArc said: "I think its a good and proactive move by the government. Digital currency is inevitable and without the government recognizing it, it will never become a legitimate currency.  So digital rupees coming from the government itself will help consumers leverage the digital format of the rupee as well as keep frauds and scams at bay."

Vikas Jain, Co-Founder, and CEO, World of Play said: "We support the government's focus on technology, it will help many tech-based companies like WORLD OF PLAY to come up with exciting product experience for the Indian consumers. We welcome the focus of government on the wearables and acoustic component ecosystem and domestic manufacturing and believe on a long term, this focus will make India as a formidable design and manufacturing powerhouse."

"Additionally the boost in ease of doing business and special impetus on creating 60 lakh new jobs will give the desired push to the goal of becoming Atma Nirbhar Bharat. As a brand, we promote and follow Make in India and we believe long-term policies like this will give us the desired support for the local design and also manufacturing in India," Jain further added.