Investing in innovation: FM announces Rs 20,000 cr for R&D

To promote private sector-driven research, development, and innovation initiatives announced in July 2024, the FM has allocated Rs 20 thousand crores for this purpose. 

A fund-of-funds will be used to catalyse the next-generation of start-ups as a part of this initiative. In the next 5 years, under the PM Research Fellowship Scheme, the FM has stated that the government will provide 10,000 fellowships for technological research in IITs and IISc with enhanced financial support