hometechnology NewsBudget 2024: Finance Ministry nearly doubles allocation for cybersecurity projects

Budget 2024: Finance Ministry nearly doubles allocation for cybersecurity projects

In 2022-2023, the allocated budget for cybersecurity projects was ₹30 crore. However, for the 2023-2024 period, there was a significant increase. In this year's budget, the allocation estimates have been revised to ₹759 crore.

By Moneycontrol News Feb 1, 2024 10:05:28 PM IST (Published)

1 Min Read

At a time when cyber attacks are rampant on government institutions, the Indian government in the 2024 interim budget nearly doubled the allocation for cybersecurity projects from ₹400 crore in 2023-2024 to ₹759 crore in 2024-2025. Majority of these projects are taken up by the Ministry of Electronics and Information Technology (MeitY).
In 2022-2023, the allocated budget for cybersecurity projects was ₹30 crore. However, for the 2023-2024 period, there was a significant increase. In this year's budget, the allocation estimates have been revised to ₹759 crore.
This comes at a time when there have been several cybersecurity attacks on government institutions, most notably the ransomware attack that affected All India Institute of Medical Sciences (AIIMS) in 2023.