The National Research Foundation Bill was passed with the goal of creating a Rs 50,000-cr fund

An important step toward promoting a culture of research and innovation throughout India's academic institutions was made with the Lok Sabha's passage of the Anusandhan National Research Foundation Bill, 2023. Jitendra Singh, the minister of science and technology, introduced the bill.

Enhancement Of Research And Development

The law seeks to create a fund of Rs. 50,000 crores to "seed, grow and promote" research and development (R&D) at all Indian universities, colleges, research institutions, and R&D labs. This fund is anticipated to be funded in large part by corporate social responsibility (CSR) money from the commercial sector.

Financial Breakdown

The National Research Foundation (NRF) would be established with a five-year budget of approximately Rs 50,000 crore. Included in this are Rs. 10,000 crore from the government, Rs. 4,000 crore from the Science and Engineering Research Board (SERB), and Rs. 26,000 crore from the business sector, philanthropists, and other aid.

Bridging The Gap

The minister emphasized that the current system was lacking a piece because financing was frequently skewed in favor of prestigious institutions like IITs. The NRF aspires to promote greater engagement across all academic institutions by ensuring equal funding for scientific research.

NRF Structure

The prime minister will serve as the chairman of the NRF's governing board, which will be made up of 15 to 25 distinguished researchers and professionals. The vice president positions will be held by the ministers of education and science and technology. Under the principal, the foundation will also have an executive council.