Government to Launch Anusandhan Fund for Research and Development
The government announced the establishment of the 'Anusandhan National Research Fund' to support research in universities and other institutions. Union Finance Minister Nirmala Sitharaman revealed plans for a Rs 1 lakh crore pool for private sector innovation and a Rs 1,000 crore venture capital fund to expand the space economy.
- Country:
- India
The government on Tuesday announced the creation of the 'Anusandhan National Research Fund' aimed at bolstering basic research and prototype development across universities, colleges, research institutions, and R&D labs.
During her budget speech, Union Finance Minister Nirmala Sitharaman revealed plans for a Rs 1 lakh crore financing pool to foster private sector-driven research and commercial-scale innovations.
Additionally, Sitharaman mentioned the establishment of a Rs 1,000 crore venture capital fund, intended to expand the space economy by five times within the next decade.
(With inputs from agencies.)
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