Centre moots ₹1 lakh crore corpus for R&D

Investment in Research and Development:

Countries R&D expenditure to GDP ratio(%)
India’s 0.7
United States 3.5
Japan 3.2
South Korea 4.6
World average 1.8

 

Share of govt. and private:

Country Governments share in R&D Expenditure Private sector’s share in R&D Expenditure
India ~60% ~40%
Other major economies ~30% ~70%

 

National Research Foundation(NRF) Act, 2023

  • Provide high level strategic direction for research, innovation and entrepreneurship in various fields like engineering and technology, environmental and earth sciences, health and agriculture.
  • The Act dissolves the Science and Engineering Research Board (SERB) and establishes the National Research Foundation in its place.
  • Envisaged spending of 50,000 crore for five years, out of which Rs. 36,000 crore, is going to come from non-governmental sources (industry & philanthropists).
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