• UGI USER
  • May 30, 2024
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REVAMP OF IT/ITES POLICY AIMS TO BOOST GDP, EXPORTS

Why in the news?

  • The Indian government is in discussions with the private sector to overhaul the IT/ITeS policy.
  • Aim Increase the IT sector’s contribution to India’s GDP and boost exports.
  • Despite a projected GDP share of 7% in FY24, the software industry’s growth fell short of expectations.
source:wordpress

About IT Rules 2021:

  • IT Rules 2021 released under IT Act 2000 for Social Media, Digital Media, and OTT platforms.
  • Government notified amendments to IT Rules 2021 in 2023.
  • Aims to ensure open, safe, trusted, and accountable internet for citizens.
  • Significant social media intermediaries (SSMIs) defined for platforms with Indian user base above threshold.
  • Rules establish a content regulation framework for news, current affairs, and curated audio-visual content.
  • Intermediaries must provide grievance redressal mechanisms for user complaints.
  • Social media platforms’ privacy policies must inform users about prohibited content dissemination.
About Gross Domestic Product(GDP):

  • GDP: Gross Domestic Product measures a nation’s economic health.
  • Vital for policymakers, economists, and analysts.
  • Reflects economy’s size, growth, productivity.
  • Crucial for understanding the economic landscape.
  • Influences decision-making processes.