Union Finance Minister Nirmala Sitharaman said that Union Budget 2022-23 recognises and encourages  the potential of youth, their technological skills and entrepreneurial spirit.

"In the 75th year of our independence, the next 25 years are very critical to India’s development; therefore we wanted this year’s Budget to encourage the power of youth, the power of entrepreneurs," she said.

"With the lockdown, we could still manage 45 unicorns within 2 years. That's actually the power of youth. The power of idea," she added.

She was speaking on “Financing India’s Global Future” at a townhall of Indian Global Forum today  in Bengaluru.

While responding to a question related to government’s approach on crypto sector, she said that the consultations on the crypto sector are on and invited the industry to participate.

She also elaborated upon the approach behind Union Budget 2022-23 and said that the budget aims to ensure that the  amenities available to people are technology driven, provide opportunities and promote employment in the country.

She also expressed her delight that even common man in the country has adapted himself to digitized banking, which is a step forward in digitization of economy.

“I am happy that the common man in this country has adapted himself to digital banking, QR code etc. Digital banking helped government in transferring money directly during lockdown,” she said.

Budget policy encourages youth entrepreneurship and digitisation, and invites industry consultations on cryptocurrency regulation and innovation. The Budget emphasises fostering youth entrepreneurship and technological skills to promote employment and innovation, links budgetary intent to a technology-driven economy, highlights digital banking and direct benefit transfers as tools for financial inclusion and efficiency, and signals ongoing consultations with the cryptocurrency industry inviting stakeholder participation to inform future regulatory approaches.