Rs 200 cr for innovative tech

The government has earmarked Rs 200 crore to fund efforts to produce and market products based on a few selected innovative technologies that can be used for the benefit of the common man

The government has earmarked Rs 200 crore to fund efforts to produce and market products based on a few selected innovative technologies that can be used for the benefit of the common man.

Finance Minister P Chidambaram said in his Budget speech that the government had identified a few amazing Samp;T innovations on the basis of which useful products could be made available to people at competitive prices.

I propose to set apart Rs 200 crore to fund organisations that will scale up and make these products available to the people. I propose to ask the National Innovation Council to formulate a scheme for the management and application of the fund, Chidambaram said.

The allocations for all the scientific ministries and departments like Department of Space,Department of Atomic Energy,Ministry of Science and Technology and Department of Biotechnology have been enhanced,though only marginally.

The Atomic Energy department has been given Rs 9,833 crore as against Rs 9,232 crore last year while the Department of Space has been allocated Rs 6,792 crore,up from Rs 6,715 crore. The Ministry of Science and Technology has got Rs 8,257 crore as against Rs 7,857 crore last year.

Despite our constraints,we must find resources for science and technology and for space,atomic energy,etc, Chidambaram said.

The Finance Minister announced the establishment of a National Institute of Biotic Stress Management in Raipur,Chhattisgarh,for addressing plant protection issues.

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An Indian Institute of Agricultural Biotechnology would be set up at Ranchi,Jharkhand,and will serve as a centre of excellence in agricultural biotechnology.