In the Union Budget 2025, the government has allocated Rs 20,000 crore to boost research, development, and innovation in India. The funds will focus on supporting private-sector-led initiatives, encouraging new ideas, and improving technological advancements.
Additionally, a major initiative under the PM Research Fellowship scheme will provide 10,000 fellowships over the next five years. These fellowships will be aimed at advancing research in technology at top institutions like IITs and IISc.
The government also plans to explore a Fund of Funds to support start-ups, ensuring they have the resources to drive innovation and growth in various sectors. With these moves, the government aims to strengthen India’s position as a global hub for research and development, fostering new breakthroughs that can contribute to the nation’s progress.