Budget 2024: Government announced 1 lakh crore corpus to aid finance research in technology
Presenting the Interim Budget for FY2024-25, the government has announced a corpus of Rs 1 lakh crore and an interest-free loan will be provided for 50 years. The fundraising is supposed to encourage research and development in the private sector.
The corpus is envisaged to provide long-term financing or refinancing with long tenors and low or nil interest rates and it will encourage the private sector to scale up research and innovation primarily in the field of sunrise domain. Meanwhile, during the speech Finance Minister also mentioned about new scheme that will be launched for strengthening deep-tech technologies for defence purposes and expediting self-reliance theory.
PM Modi has applauded the innovation in terms of aligning the initiations with the Vision India phase with a special focus on empowering the poor and middle class while creating new employment opportunities. The basic intentions are related to boosting the fields of research and development in terms of technological perspective.Read Also : BPCL Kochi Refinery emerge winners of NIPM Young Managers’ Contest 2024
The government is encouraging that it is mainly focused on leveraging new-age technologies such as Artificial Intelligence [AI], Machine Learning [ML], and Blockchain in public services to bring socio-economic empowerment and inclusive growth.Read Also : NTPC Wins 23rd Inter CPSU Cricket Tournament
News Must Read
- NTPC-REL First Solar Project begins operations
- If India succeeds, SDGs will succeed: Hardeep S Puri at UNGCNI National Convention
- PM Narendra Modi to Inaugurate First Mile Connectivity Projects of SECL in Chhattisgarh Tomorrow
- Coal India's Two Subsidiaries Eye Stock Market Debut
- BEML Gets New Office in Pune, Maharashtra
- WCL's AB Incline underground mine will start again
- 33 Community Centres for Balangir; MCL will extend Support
- NPCC to Build New Kendriya Vidyalaya Schools in Andhra Pradesh, Telangana, and Kerala
- NGEL Signs Land Lease Agreement with APIIC for Integrated Green Hydrogen Hub
- SCOPE to organize Workshops on ‘Public Procurement’ & ‘RTI’ in Shillong