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[ Thu, Jan 30th 2025 ]: Politico
RFK Jr.'s health tech fix

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

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 ]