Finance Minister's Boost for Research and Innovation

Finance Minister Nirmala Sitharaman announced the operationalisation of the Anusandhan National Research Fund to boost research and prototype development. Significant budget allocations include Rs 600 crore for the Deep Ocean Mission, Rs 8029.01 crore for the Department of Science and Technology, and Rs 427 crore for the National Quantum Mission.

Finance Minister Nirmala Sitharaman on Tuesday announced the operationalisation of the Anusandhan National Research Fund (ANRF) to support basic research and prototype development in her Union Budget presentation.

The government will initiate a Rs 1 lakh crore financing pool to stimulate private-sector-driven research and innovation at a commercial scale. Allocations also include Rs 600 crore for the Deep Ocean Mission, aimed at exploring deep-sea resources with the launch of Samudrayaan, a manned submersible capable of reaching depths of 6,000 metres.

A budget of Rs 3064.80 crore has been earmarked for the Earth Sciences Ministry, including the Deep Ocean Mission. The Department of Scientific and Industrial Research received Rs 6323.41 crore, mostly for the Council of Scientific and Industrial Research. The Department of Science and Technology was allocated Rs 8029.01 crore, seeing a major increase over the previous year. The National Quantum Mission saw its budget rise to Rs 427 crore from Rs 5 crore. The Department of Biotechnology got Rs 2275.70 crore, up from Rs 1607.32 crore the previous fiscal. The ANRF will create a comprehensive research framework to promote R&D across disciplines and institutions.

(With inputs from agencies.)