Page 50 - NIS English Aug 1-15, 2024

Budget
2024-2025
Innovation
Strengthening research,
innovation and
development
In the new era, technology and data are
benefiting the common people as well as
the industry. Along with this, new economic
opportunities are also being created and
high quality services are being facilitated.
This is increasing opportunities for India at
the global level. India is showing its people
a new path of solutions through innovation
and entrepreneurship. Its outline was also
seen in the economic budget presented
in Parliament. In the budget presented in
Parliament on July 23, many provisions have
been made including the establishment of
Anusandhan National Research Fund for
basic research and prototype development….
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bright and extremely prosperous future is
A waiting for us, which is being taken forward
under the leadership of Prime Minister Narendra
Modi. A glimpse of this was also seen in the
budget presented in Parliament on July 23. This
forward-thinking budget promotes sustainable
development, innovation and sustainable progress.
Also, ensures a resilient and prosperous future
for India. This budget makes India's significant
progress possible in all areas, including special
focus on infrastructure, innovation, research and
next generation reforms.
Union Finance and Corporate Affairs Minister
Nirmala Sitharaman, while presenting the 'Union
Budget 2024-25' in Parliament, said that we will
launch a Anusandhan National Research Fund for
basic research and prototype development. Apart
from this, we will make arrangements to promote
research and innovation driven by the private
sector at a commercial level from a financial pool
of Rs 1 lakh crore as announced in the interim
budget. Also, while continuously emphasizing on
increasing the space economy 5 times in the next
10 years, she said that a venture capital fund of Rs
1,000 crore will be arranged.
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