- National Science Day is observed on February 28 each year to mark Sir CV Raman’s birth anniversary.
R&D Spending in India: The Current Situation
- Low Expenditure: India’s expenditure on research and development (R&D) is 0.64% of GDP, which is problematic for a country seeking to technological improvement.
- Stagnant Growth: Despite pledges to treble R&D spending, India’s allocation for fundamental research has fallen in recent years, emphasising the need for increased investment in scientific efforts.
Comparative Analysis with Developed Nations:
- Global Benchmarks. Developed countries typically spend 2-4% of their GDPs on R&D, in striking contrast to India’s modest spending.
- Private Sector Contribution: In economically advanced countries, the private sector makes a considerable contribution to R&D investment, unlike in India, where public financing dominates.
Various challenges
- Obstacles to private sector funding include regulatory uncertainty, weak review processes, and worries about intellectual property rights protection.
- Underutilization Concerns: Despite funding allocations, the Department of Biotechnology and the Department of Science and Technology have inadequate utilisation rates.
- Systemic issues include bureaucratic red tape, capacity restrictions, and project evaluation delays, which all contribute to underutilization and necessitate systemic adjustments.
Way forward
- Budget Optimisation: Ensuring that allotted funds are used effectively is critical for maximising the impact of R&D investments and achieving targeted scientific achievements.
- Political Commitment: Prioritising R&D investment and encouraging public-private partnerships necessitate coordinated actions at both the ministerial and fiscal levels.
- Private Sector Engagement: Tax breaks and regulatory clarity can encourage private sector investment in R&D, hence enhancing sustainability.
- Capacity Building: Improving bureaucratic capacity for project appraisal and monitoring is critical to achieving India’s goal of becoming a research powerhouse by 2047.
Source: https://www.thehindu.com/sci-tech/science/sustainable-funding-science-power-ambition-india/article67884760.ece#:~:text=Science%20requires%20consistent%2C%20large%2Dscale,on%20R%26D%20annually%20until%202047.