Today the Finance Minister of India Mr. P.
Chidambaram on his Budget 2013 speech at Lok Sabha said that the Indian
Government has sanctioned a fund of Rs 2,000 crore for scientific researches in
order to boost up the overall environment of the scientific researches or
innovations that can be able to improve the
life of the common people.
The said fund has been approved just to encourage and finance such
products, which can improve the life of ordinary people of India by some
distinct manner.
Today the Finance Minister Mr. Chidambaram presents the General Budget
2013 in the Parliament. While presenting the
budget he said that Ministry of Science and Technology, Ministry
of Finance and Principal Scientific Advisor to the Government have already identified a few mind-blowing science and technology innovations,
and the government has decided to support the process in every manner possible.
He has explained the importance of such products in a life of a common
man to provide justifications to the fund allotment. He also said that the
government of India will also fund the franchisees and organizations that will
come forward and help the innovations by making the products available to the
common people.
Finance Minister has asked National Innovation Council to prepare an
ideal presentation for the application the management of the fund. That’s not
all, he also proposed to set apart Rs. 2,000 crore while making the
presentation, so that the fund could be used for the benefits it acclaimed for.
In his budget speech he said that the department of finance has
allocated Rs 5,615 crore to Department of Space, Rs 6,275 Crores to Ministry of
Science and Technology and Rs 5,880 crore to Department of Atomic Energy.
In his budget Mr. Finance Minister has tried to maintain the balance in
the allotment of funds to the various other departments of Indian Government
such as defence, science etc. The poor economic condition of India has not
allowed him to allot too much of money for the each department.
It has to be mentioned here that Mr. Chidambaram hikes the fund
allotment in two of the main sectors i.e. defence and education. He eventually
hikes 17% budget allotment in education where the defence sector will have a
hike of mere 14% in the budget fund allotment.
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