Lok Sabha introduces mega-R&D funding agency bill.

NEW DELHI: The government wants to use at least 10% of CSR funds for research and development, therefore a bill to create a national agency to finance research at all of the nation’s universities was submitted in the Lok Sabha on Friday.

The Anusandhan National Research Foundation Bill-2023, which was introduced by Science and Technology Minister Jitendra Singh, aims to create a Rs 50,000 crore fund to “seed, grow and promote” research and development (R&D) and foster a culture of research and innovation throughout India’s universities, colleges, research institutions, and R&D laboratories. The fund would be funded in part by the private sector using CSR funds.

According to a senior source, the overall CSR money pot in 2021 was Rs 24,860 crore, with the majority of that amount going towards social sector initiatives including sani-ty, healthcare, and education.

“The CSR fund only allots a very tiny portion to research and development. We will push the corporate sector to contribute at least 10% to R&D through the National Research Foundation, the official said.

The official said that funding for research will ultimately help the sector and firms expand.

“This bill intends to enhance India’s national research infrastructure, knowledge enterprise, and innovation potential, for scientific pursuit,” Singh stated when proposing the bill in the Lok Sabha.

The measure aims to correct the imbalance in R&D financing, which now favours IIT and other prestigious institutions while giving state universities only 11% of the money set aside for research.

The NRF, according to the minister, “is intended to ensure that scientific research is funded fairly and that greater participation from the private sector is forthcoming.”