IMS Ghaziabad (University Courses Campus) Urges Government to Prioritize Basic Research Funding for Technological Advancement

Ghaziabad (Uttar Pradesh) [India], March 10: The Union Budget for 2023-24 has allocated a significant amount of ₹16,361.42 crore for the Ministry of Science & Technology. However, a closer look reveals that the allocation has increased by only 15% from the previous estimate, and the Ministry had seen a decrease of 3.9% between 2021-22 and 2022-23. Scientific institutions in the country may face limitations in their absorptive capacity in the absence of significant funding increases across departments, warns IMS Ghaziabad (University Courses Campus).

The Department of Science and Technology (DST) received a boost with an allocation of ₹7,931.05 crores. It went up 32.1% from the previous year. However, the Department of Biotechnology (DBT) and the Department of Scientific and Industrial Research (DSIR) received a hike of 3.9% and 1.9%, respectively. This lack of significant funding raises across departments may hinder the country’s technological advancement and innovation capabilities.

IMS Ghaziabad (University Courses Campus) urges the government to prioritize research funding for technological advancement. While initiatives to scale up the technology to produce laboratory-made diamonds, develop dedicated centres of excellence for artificial intelligence research, and establish a research centre for sickle cell anemia are commendable, none of the budgetary allocations suggests a significant scale-up of basic research.

According to the Global Innovation Index, India spends only 0.7% of its GDP on research and development. The other developed and advanced countries spend over 2% of their GDP on R&D. As one of the world’s largest producers of scientific literature, India must increase the size of the funding pie and ease the procedures to make the most efficient use of it.

“Research and evolution play a key role in the country’s technological advancement and innovation capabilities. The government must increase funding for basic research to build the country’s scientific infrastructure and attract top talent,” said Dr. Arun Kumar Singh, Director of IMS Ghaziabad (University Courses Campus).

IMS Ghaziabad (University Courses Campus) emphasizes the importance of research funding for technological advancement and innovation capabilities. As research scholars not receiving promised funds on time, and the lack of quality equipment required by researchers hinder the academic potential of the country. A larger part of research continues to be funded by government authorities, and the participation of the private sector has grown only incrementally. Therefore, the government must focus on streamlining bureaucratic processes to ensure the utilization of research funds, build the country’s scientific infrastructure and attract top talent.

If you have any objection to this press release content, kindly contact pr.error.rectification[at]gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.

Business

Auric Metal and PVD Solution Expands across Asia with its Largest PVD Coating Machine Chamber

New Delhi (India), May 23: Auric Metal & PVD Solution, a leading provider of premium PVD Coated products and services, is proud to announce its expansion into the Asian market with the largest chamber size of PVD Coating Machine, measuring an impressive 15ft by 7ft, that allows to handle large-scale projects with ease and precision, […]

Read More
Business

Fuaark: Surat Based Trio Turned Rs 4 Lakh Investment Into a Rs 36 CR Business

Surat (Gujarat) [India], May 23: In the bustling city of Surat, a revolutionary brand emerged, reshaping the landscape of fitness apparel. FUAARK, a term that resonates with the energy and vibe of the youth, has evolved into a beloved destination for fitness enthusiasts. But what sets FUAARK apart in a competitive market? The answer lies […]

Read More
Business

Messe Stuttgart India Mourns the Loss of Managing Director and CEO, Mr. Sachin Patil

New Delhi (India), May 22:  It is with profound sadness that the Messe Stuttgart India family announces the sudden passing of its esteemed Managing Director and CEO, Mr. Sachin Patil on May 21, 2024. Mr. Patil’s unexpected demise leaves a deep void within the organisation. His leadership and unwavering dedication to Messe Stuttgart India were […]

Read More