The National Research Foundation (NRF) Bill, 2023, was approved on Wednesday by the Union Cabinet, which was led by Prime Minister Narendra Modi.
"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," said PM Modi on Twitter.
The supported Bill will prepare to lay out NRF that will seed, develop and Research and Development (R&D) and cultivate a culture of exploration and development all through India's colleges, schools, research organisations, and Research and development labs, the press release expressed.
After being approved by Parliament, the bill will set up the NRF, a high-level body that will provide high-level strategic direction for scientific research in the country in accordance with the National Education Policy (NEP) recommendations, at an estimated cost of Rs. 50,000 crores over five years (from 2023 to 28), according to the release.
The administrative Department of NRF will be the Department of Science and Technology (DST), which will be governed by a Governing Board of prominent researchers and professionals from various fields.
The ex-officio vice presidents of the Board will be the Union Minister of Science and Technology and the Union Minister of Education. The Prime Minister will serve as the President of the Board. NRF's work will be governed by an Executive Council chaired by the Principal Scientific Adviser to the Government of India.
In addition to the scientific and line ministries, the NRF will establish an interface mechanism for the participation and contribution of industries, state governments, academia, government departments, and research institutions.
According to the press release, it will concentrate on developing a policy framework and establishing regulatory procedures that can encourage industry collaboration and increased R&D spending.
In addition, the bill will merge the Science and Engineering Research Board (SERB), which was established by an act of Parliament in 2008, with the National Research Foundation (NRF), which has a broader mandate and encompasses activities in addition to those of SERB.
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