00:00Over the years, rights have emerged as a successful instrument for ascent monetization.
00:08I propose to accelerate recycling of significant real estate assets of the CPSCs
00:14through the setting up of dedicated rights.
00:19To promote environmentally sustainable movement of cargo,
00:22I propose to 1. establish new dedicated freight corridors
00:28connecting Dankuni in the east to Surat in the west.
00:35Operationalized 20 new national waterways over the next five years.
00:42Starting with National Waterways 5 in Orissa
00:47to connect mineral-rich areas of Talcher and Angul
00:52and industrial centers like Kalinga Nagar
00:56to the ports of Paradeep and Damra.
01:00Training institutes will be set up as regional centers of excellence
01:04for development of required manpower for these waterways.
01:09This will benefit youth in the entire stretch of the waterways
01:12to train and acquire skills.
01:15Further, a ship repair ecosystem catering to inland waterways
01:21will also be set up at Varanasi and Patna
01:26and C. launch a coastal cargo promotion scheme
01:32for incentivizing a modal shift from rail to road
01:37to increase the share of inland waterways and coastal shipping
01:42from 6% to 12% by 2047.
01:49To enhance last mile and remote connectivity and promote tourism,
01:54I propose to give incentives to indigenize manufacturing of seaplanes.
02:01A seaplane VGF scheme will be also introduced
02:06to provide support for operations.
02:11Carbon capture, utilization, and storage.
02:15Aligning with the roadmap launched in December 2025,
02:18the carbon capture, utilization, and storage technologies at scale
02:26will achieve higher readiness and in end-use application
02:32across five industrial sectors,
02:36including power, steel, cement, refineries, and chemicals.
02:42An outlay of 20,000 crore is proposed
02:45over the next five years for this purpose.
02:49City economic regions.
02:52Cities are India's engines of growth,
02:54innovation, and opportunities.
02:57We shall now focus on Tier 2, Tier 3 cities
03:00and even temple towns,
03:02which need modern infrastructure and basic amenities.
03:06This budget aims to further amplify
03:09the potential of cities to deliver
03:12the economic power of agglomerations
03:15by mapping city economic regions
03:17based on their specific growth drivers.
03:22and allocation of 5,000 crore per CER over five years
03:28is proposed for implementing their plans
03:31through a challenge mode
03:33with a reform-come-result-based financing mechanism.
03:38In order to promote environmentally sustainable passenger systems,
03:42we will develop seven high-speed rail corridors
03:46between cities as growth connectors,
03:51namely Mumbai to Pune,
03:55Pune to Hyderabad,
03:57Hyderabad to Bengaluru,
03:59Hyderabad to Chennai,
04:01Chennai to Bengaluru,
04:03Delhi to Varanasi,
04:04Varanasi to Siliguri.
04:17Financial sector.
04:20The Indian banking sector
04:21today is characterized by strong balance sheet,
04:25historic highs in profitability,
04:28improved asset quality,
04:29and coverage exceeding 98% of villages in the country.
04:36At this juncture,
04:37we are well placed to futuristically evaluate
04:40the measures needed to continue
04:41on the path of reform-led growth of this sector.
04:46Emerging technologies including API.
04:4921st century is technology-driven.
04:53Adoption of technology is for the benefit of all people.
04:57Farmers in the field,
05:00women in STEM,
05:02youth keen to upskill,
05:04and Divyangjan to access newer opportunities.
05:08The government has taken several steps
05:11to support new technologies
05:13through AI mission,
05:15National Quantum Mission,
05:17Anusandhan National Research Fund,
05:20and Research and Development,
05:23and Innovation Fund.
05:24Attracting global business and investment,
05:26recognizing the need to enable critical infrastructure
05:30and boost investment in data centers,
05:34I propose to provide
05:37tax holiday till 2047
05:41to any foreign company
05:43that provides cloud services
05:45to customers globally
05:48by using data center services from India.
05:52It will, however,
05:53need to provide services to Indian customers
05:56through an Indian reseller entity.
06:00I also propose to provide
06:05a safe harbor of 15% on cost
06:08in case the company providing data center services
06:11from India is a related entity.
06:14Thank you for coming,
06:14to have a safe harbor,
06:16and to have a safe harbor.
06:17Thank you for your support.
06:17If you have a safe harbor,
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