Fifth pillar of Budget 2021: Innovation and R&D
Modalities of the NRF have been worked out and an outlay of ₹ Rs 50,000 crore has been announced for a period of five years.
From working out the modalities of the National Research Foundation to providing financial incentives for promoting digital modes of payment and undertaking a new initiative to ensure governance and policy related knowledge on the internet being made available in major Indian languages, here are the steps that will be taken to boost innovation and R&D.
A) National Research Foundation (NRF): Modalities of the NRF have been worked out and an outlay of Rs 50,000 crore has been announced for a period of five years. It is said to strengthen the overall research ecosystem of the country with focus on identified national-priority thrust areas.
B) Boost to digital transactions: Rs 1,500 crores earmarked for a proposed scheme that will provide financial incentive to promote digital modes of payment.
C) National Language Translation Mission (NLTM): This initiative is said to make available governance-and-policy related knowledge on the Internet in major Indian languages.
D) New Space India Limited (NSIL): A PSU under the Department of Space will execute the PSLV-CS51 launch, carrying the Amazonia Satellite from Brazil, along with a few smaller Indian satellites.
E) Gaganyaan mission activities: Four Indian astronauts are being trained on Generic Space Flight aspects, in Russia. The first unmanned launch is slated for December 2021.
F) Deep Ocean Mission: With a budget outlay of more than Rs 4,000 crores, over five years, the Deep Ocean Mission will cover deep ocean survey exploration and projects for the conservation of deep sea biodiversity.