CSR funds to encourage research and development in India: Government of Odisha
The Odisha State Administration has encouraged the Center to design a framework to institutionalize proactive engagement in growing the science and technology ecosystem in all states. Minister of Science and Technology Ashok Panda highlighted the importance of fostering innovation, entrepreneurship and research and development to improve the state’s STI ecosystems while attending the session leadership of the Conclave of State S&T Ministers in Ahmedabad.
Panda stressed the importance of developing a plan to integrate state innovation systems into the national system and suggested that the union government and states work together to encourage private sector participation. Panda also raised the idea of establishing a corpus fund by the states and the Center, suggesting that a percentage of CSR funding could be made mandatory for research and development in the states.
CSR for Research and Development
In 2019, the Indian government decided to allow Indian companies to use their mandatory corporate social responsibility (CSR) spending to invest in publicly funded incubators and contribute to research efforts in science, technology, medicine and engineering in major institutions and organizations.
Finance Minister Nirmala Sitharaman said rules governing CSR spending standards had been changed to pave the way for greater investment in research – a setting the country is mismanaging globally . India’s spending on research and development (R&D) activities has been well below 1% of GDP for years, with the private sector contributing less than half of investment.
The government’s emphasis on science and technology in India
Emphasizing the importance of science and technology in accelerating the country’s development, Prime Minister Narendra Modi said India is heading towards the fourth industrial revolution. During the inauguration of the Center-State Science Conclave on September 10, he said, “The Center-State Science Conclave is an example of our mantra of Sabka Prayas. Today, as India moves towards the fourth industrial revolution, the role of Indian science and people associated with this field is very important.
Science will be a key factor in accelerating the growth of all fields and sectors for the development of the New India of the 21st century. The Prime Minister urged people to enthusiastically celebrate the achievements of the country’s scientists. “We should celebrate the achievements of our scientists. When we celebrate scientists and their innovations, science will become part of our culture. Our government is moving forward with the vision of science-based development,” the Prime Minister said.
The need to create more institutions
To encourage innovation, the prime minister said state governments should focus on building more science institutions and simplifying processes.
“In the states, there are many national level science institutes, national laboratories are also there. The states should take full advantage of their capacity and expertise. of silos,” the prime minister said. He said the number of innovation labs should also be increased at institutions of higher learning across the United States.