Budget 2018: Allocate more funds for research, says Kris Gopalakrishnan

His another expectation from the Budget was addressing the issue of angel tax, which is impacting the start-up ecosystem

The upcoming Union Budget  2018 should allot more funding for both basic and translational research, and address the issue of angel tax, said Infosys co-founder and angel investor Kris Gopalakrishnan. 

Speaking on the sidelines of the inaugural function of Deshpande Gopalakrishnan Symposium on Innovation and Entrepreneurship in Chennai, Gopalakrishnan said, "I strongly believe that funding for research has to increase. It is currently 0.8 per cent of GDP and I think we should take it up to two to three per cent." The private sector also has to contribute as it gives only 0.2 per cent, he said. Funding should