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THE KEY DRIVER OF SELF-RELIANCE
What the article is about?
- Talks about the need to invest more in R&D and the way ahead.
Syllabus: GS-III Government Policies and Interventions; Issues relating to growth and development,
India’s GERD:
- The Gross Domestic Expenditure on R&D (GERD) as the percentage of GDP for India is the lowest.
- Only 0.66&% of GDP
- Low spender in comparison to the developed countries and emerging economic power of East Asia.
- Economic Survey 2020-21 suggested that the country needs to increase its GERD from around 0.7% to over 2% of its GDP as is the situation with the Western and East Asian economies.
- The survey suggested that the private sector needs to raise its share of spending from 37% to 68% of the total spending on R&D.
- NEP 2020 suggested the establishment of a National Research Foundation (NRF) to fund competitive, peer-reviewed grant proposals from the universities, colleges and institutions of higher learning.
- The Budget 2021 proposed an allocation of Rs 50,00 crore over the next 5 years.
Measures to improve:
- The government needs to cover the current deficits in R7D and cater to present and future needs by committing to raise the spending on R&D to 1% of the GDP.
- An increase of around 80% in public spending on R&D would be required to achieve this.
- A virtual platform that will hold all the information on the projects granted with public funding could be developed for better information sharing.
- Joint R&D projects between public institutions and start-ups/industries can also be supported.
- To make India self-reliant, the country requires the up-gradation of human resources in R&D.
- Post-doctoral work in India should be encouraged by providing better remuneration to young scientists.
Conclusion
- A commitment from the Centre to raise GERD to 1% of the GDP in the next 3 years could be one of the most consequential decisions taken in the 75th year of India’s independence.
