?20,000 crore allocated to DST to kickstart ?1 lakh crore research and development fund

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?20,000 crore allocated to DST to kickstart ?1 lakh crore research and development fund

//science-technology.news-articles.net/content/2 .. -1-lakh-crore-research-and-development-fund.html

Published in Science and Technology on Saturday, February 1st 2025 at 9:42 GMT by Mint
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

New Delhi, Feb 1 (PTI) Signalling a commitment to research and development, Union Finance Minister Nirmala Sitharaman on Saturday allocated â‚¹ 20,000 crore to the Department of Science and Technology as a corpus for a fund to promote private sector-driven innovation.

- Click to Lock Slider

The Indian government has allocated Rs 20,000 crore to the Department of Science and Technology (DST) to initiate a Rs 1 lakh crore research and development fund aimed at fostering innovation and self-reliance in critical technology areas. This fund, announced by Finance Minister Nirmala Sitharaman during the 2024-25 interim Budget, will be managed by a new entity called the India Science and Technology Innovation Fund (ISTIF), which will operate under a public-private partnership model. The initiative seeks to enhance India's capabilities in deep-tech sectors, with a focus on areas like defense, health, and agriculture. The fund will be disbursed over five years, with the government contributing Rs 1 lakh crore, and the expectation is that this will attract additional investments from private sectors, both domestic and international. The move is part of a broader strategy to boost India's research and development ecosystem, encouraging innovation and reducing dependency on foreign technology.

Read the Full Mint Article at:
[ https://www.livemint.com/companies/news/rs-20-000-crore-allocated-to-dst-to-kickstart-rs-1-lakh-crore-research-and-development-fund-11738420225997.html ]