Union Budget 2024-25: Centre announces Rs 1 lakh crore in interest-free loans for private sector research
India, Feb. 1 -- Experts question decision to prioritise profit-driven private innovation over public research
India's interim Union budget for 2024-25 has earmarked Rs 1 lakh crore to amplify research and innovation among the country's youth by providing "long-term financing or refinancing with extended tenors and low or nil interest rates". Nirmala Sitharaman, in her budget speech, declared that this initiative is designed to prompt a substantial scaling up of research and innovation in sunrise domains (new sectors), encouraging collaboration between the nation's youth and technology.
Experts, though, say that instead of boosting funding for private research, which is largely profit driven, the Centre should have focused on funding re...
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