Budget Allocates Rs 20,000 Crore To Science To Kickstart Research Fund

| 2 Feb 2025 10:04 PM IST

New Delhi:

Signalling a commitment to research and development, Union Finance Minister Nirmala Sitharaman on Saturday allocated Rs 20,000 crore to the Department of Science and Technology as a corpus for a fund to promote private sector-driven innovation.

Nirmala Sitharaman had announced setting up of a Rs 1 lakh crore research and development fund in the budget last July.

The allocation in Saturday’s budget will kickstart the fund aimed at supporting research and development in deep tech and sunrise sectors.

“To implement the private sector-driven Research, Development and Innovation initiative announced in the July budget, I am now allocating Rs 20,000 crore,” Sitharaman said.

Tags: BudgetNirmala SitharamanNew Delhi

Categories: National

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