• UGI USER
  • Feb 28, 2024
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WHY SCIENCE NEEDS SUSTAINABLE FUNDING

Why in the news?

India’s goal of becoming a science power by 2047 requires sustained and increased funding for R&D, efficient budget utilization, and a collaborative effort between ministries and the private sector.

source:slideserve

Highlighting the R&D Expenditure in India:

  • Low Global Standing: India’s research and development (R&D) expenditure is among the world’s lowest, currently at 0.64% of GDP.
  • Historical Trends: The expenditure has dropped from 0.8% in 2008-2009 to the present 0.64%, despite calls to double spending.
  • Global Comparisons: Developed countries spend between 2% and 4% of their GDP on R&D, emphasizing India’s need to increase funding for impactful development.
About Solutions for R&D Spending:

The Anusandhan National Research Foundation, intended to address financial issues, faces delays in implementation with a revised budget.

National Science Day Theme:

“Science for Sustainable Development”: India’s National Science Day theme emphasizes the crucial role of science in the nation’s journey toward becoming a developed country by 2047.