Union Finance Minister Nirmala Sitharaman Friday announced the government will set up a National Research Foundation (NRF) to fund, coordinate and promote research in the country.
The NRF will assimilate the research grants being given by various ministries independent of each other, Sitharaman said in her maiden Budget speech.
"The NRF will ensure that the overall research ecosystem in the country is strengthened with focus on identified thrust areas relevant to our national priorities and towards basic science without duplication of effort and expenditure," she added.
Sitharaman said "a very progressive and research-oriented structure for the NRF" should be worked out.
"The funds available with all ministries will be integrated in the NRF. This would be adequately supplemented with additional funds," the minister said.