{"id":37159,"date":"2025-02-11T19:07:05","date_gmt":"2025-02-11T13:37:05","guid":{"rendered":"https:\/\/www.nextias.com\/ca\/?p=37159"},"modified":"2025-08-14T11:28:05","modified_gmt":"2025-08-14T05:58:05","slug":"budget-allocation-for-research-development-and-innovation","status":"publish","type":"post","link":"https:\/\/www.nextias.com\/ca\/current-affairs\/11-02-2025\/budget-allocation-for-research-development-and-innovation","title":{"rendered":"Budget Allocation for Research, Development and Innovation"},"content":{"rendered":"\n<p><strong>Syllabus: GS3\/Science and Technology<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Context<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The Union Budget has allocated \u20b920,000 crore to the <strong>Ministry of Science and Technology (MoST)<\/strong> for research, development and innovation.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Background<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Last year, in the <strong>interim Budget \u20b91 lakh crore<\/strong> was announced for a <strong>fifty-year interest-free loan.&nbsp;<\/strong><\/li>\n\n\n\n<li>It will provide<strong> long-term financing or refinancing <\/strong>with long tenures and low or nil interest rates.&nbsp;<\/li>\n\n\n\n<li>This will encourage the<strong> private sector to scale up research and innovation<\/strong> significantly in sunrise domains.&nbsp;<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Significance<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>This will be a major step towards creating strategic<strong> autonomy in some key technology sectors.<\/strong><\/li>\n\n\n\n<li>The budget introduces several initiatives that align closely with <strong>DBT\u2019s mission to advance India\u2019s biotechnology sector.&nbsp;<\/strong><\/li>\n\n\n\n<li>The budget\u2019s focus on <strong>public-private partnerships,<\/strong> <strong>industry collaboration, and technology-driven entrepreneurship<\/strong> will accelerate innovation in manufacturing, healthcare, sustainability, and strategic sectors.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>India\u2019s Spending on R&amp;D:<\/strong>&nbsp;<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>India currently spends <strong>less than 1% of its GDP<\/strong> on research and development, which is low compared to technologically advanced countries.&nbsp;<\/li>\n\n\n\n<li>A major reason for this is the limited participation by the private sector \u2014 now hovering around 30% \u2014 in core research and development.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Need for Funding in R&amp;D<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Economic Growth<\/strong>: Drives new industries, improves productivity, and enhances global competitiveness.<\/li>\n\n\n\n<li><strong>Technological Advancement<\/strong>: Facilitates breakthroughs in fields like AI, biotechnology, and renewable energy.<\/li>\n\n\n\n<li><strong>Social Challenges<\/strong>: Helps address poverty, healthcare, education, and environmental sustainability issues.<\/li>\n\n\n\n<li><strong>Job Creation<\/strong>: Innovation generates employment opportunities and stimulates entrepreneurship.<\/li>\n\n\n\n<li><strong>Global Positioning<\/strong>: Positions India as a global leader in science, technology, and knowledge.<\/li>\n\n\n\n<li><strong>Attracts Investment<\/strong>: Promotes foreign and domestic investments in research-driven sectors.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Challenges<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Funding Issues<\/strong>: Limited investment in research and development, especially in public institutions.<\/li>\n\n\n\n<li><strong>Infrastructure Gaps<\/strong>: Inadequate research facilities and resources in many institutions.<\/li>\n\n\n\n<li><strong>Brain Drain<\/strong>: Loss of talent to other countries due to better opportunities abroad.<\/li>\n\n\n\n<li><strong>Lack of Industry Collaboration<\/strong>: Limited partnerships between academia and industry for practical innovation.<\/li>\n\n\n\n<li><strong>Skill Gaps<\/strong>: Insufficient training and development of skilled researchers and innovators.<\/li>\n\n\n\n<li><strong>Regulatory Challenges<\/strong>: Complex regulations and intellectual property issues hinder innovation.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Government Initiatives<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>The National Geospatial Mission<\/strong> has been announced with an allocation of Rs 100 crore for FY 2025-2026 to develop foundational geospatial infrastructure and data.\n<ul class=\"wp-block-list\">\n<li>The mission will help implement the National Geospatial Policy 2022, with the goal of making India a world leader in the geospatial sector.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>The National Mission on High Yielding Seeds <\/strong>will focus on strengthening the research ecosystem and developing high-yielding, pest-resistant, and climate-resilient seeds, aligning with DBT\u2019s efforts in agricultural biotechnology.<\/li>\n\n\n\n<li><strong>National Manufacturing Mission (NMM): <\/strong>Aligned with the government\u2019s <strong>\u2018<a href=\"https:\/\/www.nextias.com\/ca\/current-affairs\/27-08-2024\/bioe3-policy\" data-type=\"link\" data-id=\"https:\/\/www.nextias.com\/ca\/current-affairs\/27-08-2024\/bioe3-policy\">BioE3 Policy<\/a>\u2019 <\/strong>for fostering high-performance biomanufacturing, the NMM announced in the Budget aims to accelerate technology development and commercialisation.\u00a0<\/li>\n\n\n\n<li><strong>The Seaweed Mission and Learn &amp; Earn Program<\/strong> empower women entrepreneurs, supporting economic inclusion.&nbsp;<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Way Forward<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>With the recent initiative Startups and other private sector ventures will obtain seed money for their projects and are expected to get benefitted.<\/li>\n\n\n\n<li>However to raise R&amp;D spending there is a need to have increased partnership with the private sector.&nbsp;<\/li>\n\n\n\n<li>Efforts are being made to create better synergies between industry, research labs, and educational institutions in order to broad-base both research activity and the funds to support it.\n<ul class=\"wp-block-list\">\n<li>The Union Finance Minister has also announced several initiatives including the Nuclear Energy Mission, initiatives in clean tech, Atal Tinkering Labs, and the Centre of Excellence on AI in Education.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<p><strong>Source: <\/strong><a href=\"https:\/\/www.thehindu.com\/business\/budget\/union-budget-2025-science-ministry-gets-historic-funding-hike-powered-by-corpus-to-finance-private-rd\/article69169471.ece#:~:text=In%20a%20quest%20to%20boost,have%20described%20as%20%E2%80%9Chistoric%E2%80%9D.\" rel=\"nofollow noopener\" target=\"_blank\"><strong>TH<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Union Budget has allocated \u20b920,000 crore to the Ministry of Science and Technology (MoST) for research, development and innovation.<\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-37159","post","type-post","status-publish","format-standard","hentry","category-current-affairs"],"acf":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/37159","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/comments?post=37159"}],"version-history":[{"count":3,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/37159\/revisions"}],"predecessor-version":[{"id":51321,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/37159\/revisions\/51321"}],"wp:attachment":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/media?parent=37159"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/categories?post=37159"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/tags?post=37159"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}