Budget 2024-25: 'Anusandhan National Research Fund' To Be Set Up For Basic Research And Prototype Development

Union Finance Minister Nirmala Sitharaman on Tuesday (23 July) announced the setting up of 'Anusandhan National Research Fund'.

The Anusandhan National Research Fund will be set up for basic research and prototype development.

Further, the budget proposes financing pool of Rs 1 lakh crore to spur private sector-driven research and innovation at commercial scale

A venture capital fund of Rs 1,000 crore will be set up to expand space economy by five times in the next ten years.

The Finance Minister also announced that investment-ready “plug and play” industrial parks will be developed in or near 100 cities 12 industrial parks sanctioned under National Industrial Corridor Development Programme.

She also said that critical Mineral Mission will be set up for domestic production, recycling of critical minerals, and overseas acquisition of critical mineral assets.

Also Read: Budget 2024-25: MUDRA Loan Limit To Be Doubled To Rs 20 Lakh