Nearly three times increase in Gross Expenditure in R&D during last 10 years

In a written reply to a question in Lok Sabha today, Dr. Jitendra Singh said that the government has taken up several steps to increase R&D spending in the country.

Union Minister of State, PMO, Personnel, Public Grievances, Pensions, Minister of State (Independent Charge) Science & Technology, M/o Earth Sciences; MoS, Atomic Energy and Space, Dr Jitendra Singh said that the Gross Expenditure in Research and Development (GERD) has been continuously increasing over the years. There has been nearly a three times increase in GERD during last 10 years.

In a written reply to a question in Lok Sabha today, Dr. Jitendra Singh said that the government has taken up several steps to increase R&D spending in the country. Some of the key efforts made by Government include: the successive increase in plan allocations for Scientific Departments, incentivizing investment by private sector to increase their share in GERD, introducing flexible tools for public procurement; creating avenues for collaborative STI funding through portfolio-based funding mechanisms such as Public-Private-Partnerships and other innovative hybrid funding mechanisms. The Government has allowed corporate sector to make R&D investments under the provision of Corporate Social Responsibility (CSR). Corporates can invest in technology business incubators or contribute to research efforts carried out by institutions and national research laboratories as a part of their CSR. There are specific investment incentives offered such as Location-based tax incentives that enables 100% deductions of profits generated from establishing and doing business in northeastern states of India.

(With Inputs from PIB)