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

Signalling a committedness to probe and development, Union Finance Minister Nirmala Sitharaman connected Saturday allocated Rs 20,000 crore to the Department of Science and Technology arsenic a corpus for a money to beforehand backstage sector-driven innovation.

Sitharaman had announced mounting up of a Rs 1 lakh crore probe and improvement money successful the fund past July.

The allocation successful Saturday's fund volition kickstart the money aimed astatine supporting probe and improvement successful heavy tech and sunrise sectors.

"To instrumentality the backstage sector-driven Research, Development and Innovation inaugural announced successful the July budget, I americium present allocating Rs 20,000 crore," Sitharaman said.

Presenting the Union Budget for the 2025-26 fiscal, the concern curate besides said a Deep Tech Fund of Funds would beryllium explored to catalyse the adjacent procreation start-ups arsenic portion of this initiative.

"The allocation this twelvemonth volition kickstart the money and beryllium a large boost to enactment probe and improvement successful the backstage assemblage successful heavy tech and sunrise sectors.

This volition beryllium a large measurement towards creating strategical autonomy successful immoderate cardinal exertion sectors," said Abhay Karandikar, caput successful the Department of Science and Technology.

The authorities had decided to measurement successful to nudge the backstage assemblage to instrumentality up probe and development, which had not picked up contempt taxation exemptions for the purpose.

The Economic Survey, presented successful Parliament connected Friday, had flagged concerns implicit the backstage sector's disinterest to walk connected probe and development.

Addressing a property league connected Friday, Chief Economic Advisor V Anantha Nageswaran said the backstage sector's expenditure connected probe and improvement was precise debased contempt a batch of inducement schemes provided by the government.

The authorities contributes 50 per cent of the full probe and improvement spending successful the state whereas the concern enterprises' spending accounts for lone 41 per cent, helium added.

Nageswaran besides raised concerns regarding sector-centred investments connected probe and improvement by the backstage sector.

He said probe and improvement was 1 country wherever the backstage assemblage should marque improvements.

With the Department of Science and Technology being the nodal ministry driving this fund, its budgetary allocation witnessed a crisp summation from Rs 8,029 crore to Rs 28,508.90 crore.

The Department of Biotechnology has been allocated Rs 3,446.64 crore, a hike of Rs 1,170.94 crore implicit the budgetary allocation of Rs 2,275.70 crore successful the July budget.

The Department of Scientific and Industrial Research has received an allocation of Rs 6,657.78 crore against Rs 6,323.41 crore successful the 2024-25 fiscal.

The Department of Atomic Energy has received an allocation of Rs 24,049.10 crore against Rs 24,968.98 crore.

The Department of Space has been allocated Rs 13,416.2 crore, up from Rs 13,042.75 crore.

The fund has allocated Rs 10,230.2 crore to assorted Indian Space Research Organisation (ISRO) centres specified arsenic the Vikram Sarabhai Space Centre, UR Rao Satellite Centre, the Human Spaceflight Centre and assorted projects, including motorboat conveyance development.

Space applications received the second-largest stock with Rs 1,706.8 crore, supporting centres specified arsenic the Space Applications Centre, Development and Educational Communication Unit, and the National Remote Sensing Centre.