Get ready for Budget 2024: Boosted Cybersecurity and Increased Funds

July 10, 2024
1 min read

TLDR:

  • Cybersecurity leaders anticipate robust measures and more funds in the upcoming Union Budget 2024-25.
  • Industry leaders are calling for substantial funds to enhance national cybersecurity infrastructure.

Article Summary:

As the Union Budget 2024-25 approaches, cybersecurity leaders are anticipating robust measures and increased funds to tackle cyber threats in India. The Indian government has already increased its cybersecurity allocation from INR 400 crore to INR 750 crore in the interim budget. However, industry leaders are calling for even more substantial funds to fortify national cybersecurity infrastructure, especially in critical sectors like banking, energy, healthcare, and transportation.

There is a pressing need for dedicated funding to enhance cybersecurity measures in government departments and public sector enterprises as well. Additionally, there is a focus on developing cybersecurity skills and awareness through educational programs and campaigns to raise awareness among businesses and the general public.

Industry leaders are also expecting initiatives for skill development and upskilling programs to meet emerging industry requirements. The development of digital infrastructure, support for cybersecurity startups, and tax exemptions for R&D expenditures are also key areas of focus in the upcoming budget.

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