The Reserve Bank of India is set to introduce a digital rupee, utilising blockchain and other advanced technologies, starting from the fiscal year 2022-23. This move, announced as part of the Union Budget 2022-23, is expected to significantly enhance the digital economy and create a more efficient and cost-effective currency management system. The government also proposed other measures to stimulate investment and credit availability across various sectors.
DATA CENTRES AND ENERGY STORAGE SYSTEMS TO BE INCLUDED IN HARMONIZED LIST OF INFRASTRUCTURE
EXPERT COMMITTEE TO STUDY SCALING UP VENTURE CAPITAL AND PRIVATE EQUITY INVESTMENT
Rs. 5.5 LAKH CRORE INVESTED BY VENTURE CAPITAL AND PRIVATE EQUITY LAST YEAR
BLENDED FINANCE FROM THEMATIC FUNDS MANAGED BY PRIVATE FUND MANAGERS TO PROMOTE IMPORTANT SUNRISE SECTORS
TECHNICAL AND KNOWLEDGE ASSISTANCE FROM MULTI-LATERAL AGENCIES TO ENHANCE FINANCIAL VIABILITY OF PROJECTS
Union Minister for Fin
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FAQ :
The digital rupee is planned to be issued by the Reserve Bank of India starting from the fiscal year 2022-23.
The digital rupee will be introduced using blockchain and other relevant technologies.
The introduction of the digital rupee is expected to provide a significant boost to the digital economy and lead to a more efficient and cheaper currency management system.
Other proposals include including data centres and energy storage systems in the harmonised list of infrastructure, setting up an expert committee to scale up venture capital and private equity investment, promoting thematic funds for blended finance, and enhancing the financial viability of infrastructure projects.
Data Centres and Energy Storage Systems, including dense charging infrastructure and grid-scale battery systems, will be included in the harmonised list of infrastructure.