Economics
Syllabus
- Prelims – Economy
- Mains – GS – 3 (Economic Development)
Stats: India’s funding for R&D
- It has remained static and hovers between 0.6 to 0.8% of GDP over a decade.
- While India’s global R&D expenditure remains static at 1-3% of the global total, the U.S. and China accounted for 25% and 23%, respectively.
- The World Bank statistics indicate that India had 255 researchers per million people in 2017.
- In contrast to 8,342 per million in Israel, 7,597 in Sweden and 7,498 in South Korea. Compared to 111 in the U.S. and 423 in China, India has only 15 researchers per 1,00,000 population.
National Research Foundation (NRF)
- The 2021-22 budget offered ₹10,000 crores ($1.37 billion) every year starting from 2021, over the next five years, for a new funding agency called the National Research Foundation (NRF).
- This newly proposed idea is also in tune with what is being stated in the National Education Policy 2020
- The National Research Foundation (NRF) will be functioning as a structure that will connect the industry, academia and the R&D of the country.
- The NRF will provide a reliable base of merit-based but equitable peer-reviewed research funding, helping to develop a culture of research in the country through suitable incentives for and recognition of outstanding research.
Source: The Hindu
