Cabinet approves introduction of National Research Foundation Bill, 2023 in Parliament

New Delhi [India], June 29 (ANI): The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday, approved the introduction of the National Research Foundation (NRF) Bill, 2023 in the Parliament.
PM Modi took to his Twitter handle and said that the approval of the National Research Foundation Bill would pave the way for bolstering research and development in the country.
He that it would also encourage innovation and cooperation between government, industry, and academics.
"Approval of the National Research Foundation Bill will pave the way for bolstering R&D. It will foster innovation and collaboration among academia, industry, and government, a crucial step in realising our vision for a scientifically advanced nation," PM Modi said in a tweet.
According to an official statement, the approved Bill will pave the way to establish NRF that will seed, grow and promote Research and Development (R&D) and foster a culture of research and innovation throughout India's universities, colleges, research institutions, and R&D laboratories, the press release stated.
The bill, after approval in the Parliament, will establish NRF, an apex body to provide high-level strategic direction of scientific research in the country as per recommendations of the National Education Policy (NEP), at a total estimated cost of Rs. 50,000 crore during five years (2023-28), the release stated.
The Department of Science and Technology (DST) will be the administrative Department of NRF which will be governed by a Governing Board consisting of eminent researchers and professionals across disciplines.
The Prime Minister will be the ex-officio President of the Board and the Union Minister of Science and Technology and the Union Minister of Education will be the ex-officio Vice-Presidents. NRF's functioning will be governed by an Executive Council chaired by the Principal Scientific Adviser to the Government of India.
NRF will forge collaborations among the industry, academia, and government departments and research institutions, and create an interface mechanism for participation and contribution of industries and State governments in addition to the scientific and line ministries.
It will focus on creating a policy framework and putting in place regulatory processes that can encourage collaboration and increased spending by the industry on R&D, the official statement said.
The bill will also repeal the Science and Engineering Research Board (SERB) which was established by an act of Parliament in 2008 and subsume it into NRF which has an expanded mandate and covers activities over and above the activities of SERB, it added.
Following the approval, Union Home Minister, Amit Shah, expressed gratitude to the Prime Minister for approving the National Research Foundation Bill in the Union Cabinet.
Shah said that the initiative would promote the culture of research and development in New India. "Gratitude to PM Narendra Modi for approving the National Research Foundation Bill in the Union Cabinet today, promoting the culture of research and development in New India. With a total outlay of Rs 50,000 crore it will pave the way for India to pioneer scientific research," Amit Shah said in a tweet. (ANI)