‘It will also encourage individuals as well as start-ups with entrepreneurial potential’
Prof. Debashis Chatterjee, Director, Indian Institute of Management -Kozhikode (IIM-K) has said that the Union Budget 2021 has accorded much-needed importance to the research and innovation ecosystem of India with a budget outlay of ₹50,000 crore to be spent over a period of five years.
He said that it was heartening to learn that the Finance Minister emphasised on ‘Innovation, Research and Development ’ as one of the six important pillars of the Budget.
“It will not only help rejuvenate the existing infrastructure but also ensure that the overall research ecosystem of the country is strengthened with focus on identified national-priority thrust areas,” he said.
Post NEP 2020 plans to set up Higher Education Commission of India, improve digital infrastructure, collaboration with foreign institutions along with the announcement for skill training partnerships with countries like Japan and the UAE are a sign of the government’s renewed focus and commitment on reinvigorating the country’s human capital for sustainable economic growth through education and skill development sector restructuring, Prof. Chatterjee said.
He said that the launch of the investment clearance cell and the proposal to incentivise the incorporation of One Person Companies (OPC) will also encourage individuals as well as start-ups with entrepreneurial potential.
The post COVID-19 boost to the health sector infrastructure is also a much needed shot-in-the-arm along with the strong push for infrastructure-creation which will be a major step towards a self-reliant India, he said.
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