Government Earmarks 5% of USOF for Telecom R&D in Economic Survey 2023-24

The government has allocated 5% of the Universal Services Obligation Fund (USOF) for telecom research and development, as detailed in the Economic Survey 2023-24. This initiative aims to bolster R&D in telecom technology, with a focus on 5G and 6G advancements. Significant progress in mobile broadband speed rankings and tele-density in India was also highlighted.

The government has earmarked 5% of the Universal Services Obligation Fund (USOF) for research and development in telecommunications, as revealed in the Economic Survey 2023-24 tabled in Parliament on Monday.

Currently, the government holds a corpus of around Rs 80,000 crore collected under USOF, now renamed as Digital Bharat Nidhi.

The survey emphasized that telecom technology development demands considerable and sustained capital for R&D and commercialization. Hence, 5% of the annual collections from USOF will now be allocated for telecom R&D funding.

(With inputs from agencies.)