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How Budget’16 gave Science and Technology a big boost?

The 2016-2017 union budget has proceeded to give Science and Technology a huge boost as Finance Minister Arun Jaitley has increased Rs. 811 crore for Science and Technology Ministry from the last budget which thus has got a rise of 11%. The present government is taking special interest in research and innovation and is continuing to be very supportive towards science and technology.

  • This increase thus according to Science Minister Harsh Vardhan would facilitate the ministry to implement S&T programmes to align with India’s strategic interventions. So far, the total fund allocation for the Ministry of Science and Technology for the fiscal years of 2013-14, 2014-15 and 2015-16 was Rs. 5145 crore, Rs. 5495 crore and Rs. 7200.80 crore respectively but for this year the allocation touched Rs. 8100 crore.
  • But despite this, there is a lacking for new talented workforce as ageing workforce in science and research can directly harm the country’s growth. The Department of Bio Technology got a 12% increase amounting to an increase of Rs. 193 crore from the last financial year. But however this increase may not necessarily make India’s biotech sector a $100 billion industry by 2020. Despite this, the department’s secretary K Vijay Raghavan said that the increase has come at the right time and would definitely give a big boost to the whole biotech industry.
  • The Department of Atomic Energy got an increase of about 4% amounting and simultaneously the department has been promised to have an allocation of Rs. 3000 crore to make power reactors. Simultaneously the Department of Space also got a promise for allotment of Rs. 6000 crore as it currently is preparing to launch PM Modi’s pet project the ‘SAARC satellite’.
  • According to Health Minister J P Nadda, the Ministry of Health and Family Welfare on the other hand has got an increase of around 21% thereby amounting to Rs. 31,300 crore from last year’s Rs. 25,946 crore. This landmark allocation came after a survey done by the ministry which showed a miserable health scenario of the country. Concurrently the Department of Health Research got an increase of Rs. 37 crore only while the department’s central plan outlay has reached close to Rs. 750 crore. the Ministry of Science and Technology has however expressed relief over the new monetary allocation stating that now  the departments would work towards generating employment, higher economic growth and bettering the quality of life.

(Source: ET)

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