Why science needs sustainable funding
Context:
The theme for National Science Day 2024 is “Science for Sustainable Development”.
- India aims to achieve developed country status by 2047 through sustainable means, as reflected in its commitments under the Paris Agreement and global fora.
Relevance:
GS-03 (Science and technology)
Key Highlights:
- Despite recognition of the importance of science in driving development, India’s spending on research and development (R&D) remains low compared to global standards.
- Calls to increase R&D spending to at least 3% of GDP annually until 2047 have been made to ensure meaningful impact on development.
Mains Question:
Critically analyze India’s current research and development (R&D) spending and its implications for the country’s long-term development goals. Discuss the challenges hindering private sector participation in R&D financing and propose strategies to enhance sustainable funding for science and technology in India. (250 words)
Dimensions of the Article:
- Current State of R&D Spending
- Need for Increased Funding
- Challenges in Private Sector Participation
- Budget Utilization Concerns
Current State of R&D Spending:
- India’s research and development (R&D) expenditure is among the lowest globally, at 0.64% of GDP.
- Despite previous commitments to increase R&D spending to 2% of GDP, actual expenditure has decreased over the years, raising concerns about the country’s ability to achieve its science and technology ambitions.
Need for Increased Funding:
- Experts emphasize the need for India to significantly boost R&D spending to at least 3% of GDP annually until 2047.
- This level of investment is crucial to drive meaningful scientific advancements and support the country’s transition to a developed nation.
Challenges in Private Sector Participation:
- While developed countries rely heavily on private sector investment for R&D, India’s private sector contribution remains low at 36.4% of Gross Expenditure on R&D (GERD).
- Factors such as regulatory uncertainties and intellectual property rights concerns hinder private sector involvement in R&D financing.
Budget Utilization Concerns:
- Efficient utilization of allocated R&D funds is essential for maximizing scientific outcomes. However, ministries responsible for R&D, such as the Department of Biotechnology and the Department of Science and Technology, have consistently under-utilized their budgets.
- Addressing bureaucratic hurdles and capacity constraints is crucial to improve budget utilization.
Way Forward:
- To ensure sustainable funding for science and technology, India must prioritize R&D spending and incentivize private sector participation. This includes streamlining regulatory processes, providing tax incentives, and fostering a conducive environment for innovation.
- Additionally, building bureaucratic capacity to evaluate projects and monitor fund utilization is essential for maximizing the impact of R&D investments. By fostering a culture of innovation and collaboration, India can realize its vision of becoming a global leader in science and technology by 2047.
