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Tech Policy hikes R&D budget by 2%

business Updated: Jan 04, 2013 00:45 IST
Vanita Srivastava
Vanita Srivastava
Hindustan Times
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The Science, Technology and Innovation Policy 2013, which hopes to position India among the top five global scientific powers by 2020, was released at the centenary session of the Indian Science Congress in Kolkata on Thursday.



The new policy will raise gross R&D expenditure in India from 1% to 2% of GDP. It will also increase the full time equivalent of R&D personnel by at least 66% of the present strength in five years.


“It is an ambitious goal. It aims to produce and nurture talent in science, stimulate research in our universities and develop young leaders in the field of science and reward performance. The 12th five-year plan outlines a number of initiatives which will make this possible,” Prime Minister Manmohan Singh said while releasing the policy.