The highlight of the announcements was the introduction of the 'Anusandhan National Research Fund.' This fund is set to promote fundamental research and assist in developing prototypes, thereby boosting innovation and scientific advancement.
Union Finance Minister Nirmala Sitharaman unveiled several significant initiatives to boost India’s research and industrial sectors. The highlight of the announcements was the introduction of the 'Anusandhan National Research Fund.' This fund is set to promote fundamental research and assist in developing prototypes, thereby fostering innovation and scientific advancement.
In addition to this, the budget proposes a substantial ₹1 lakh crore financing pool. This initiative aims to stimulate research and innovation led by the private sector, enabling projects to reach commercial viability and scale.
To further uplift the space sector, a dedicated venture capital fund of ₹1,000 crore will be established. This fund is designed to enhance the space economy, with the ambitious goal of expanding it fivefold over the next decade. (Source: Swarajya)
Another major announcement was developing “plug and play” industrial parks in or near 100 cities. This initiative will support industrial growth and complement the 12 parks sanctioned under the National Industrial Corridor Development Programme.
Lastly, Sitharaman introduced the Critical Mineral Mission. This mission will focus on increasing domestic production, recycling essential minerals, and securing critical mineral assets from international sources. This move aims to ensure the sustainability and self-sufficiency of India's mineral resources in the long term.