Union Minister Dr. Jitendra Singh Highlights Emphasis on Innovation and Startups in Interim Budget 2024-25

New Delhi:  Union Minister Dr. Jitendra Singh, Minister of State (Independent Charge) for Science & Technology; MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy, and Space, addressed the media to discuss the key highlights of the Interim Budget 2024-25. He emphasized the government’s focus on innovation and startups to achieve the goal of a “Viksit Bharat” by 2047.

Dr. Jitendra Singh highlighted the proposal in the budget for a corpus of Rs One Lakh Crore to boost private investment in sunrise technologies. This initiative is expected to mark a golden era for the tech-savvy youth and encourage programs that harness the power of youth and technology.

The Minister commended the clarity and conviction of Prime Minister Shri Narendra Modi in utilizing Science & Technology for the goal of Viksit Bharat. He noted that the proposed corpus, along with schemes for Deep Tech Startups in Defense and Biomanufacturing, reflects the government’s commitment to Atmanirbharta in Science & Technology.

Dr. Jitendra Singh lauded the success of the Department of Biotechnology in developing vaccines and highlighted the proposal for the vaccination against cervical cancer for girls aged 9-14 years. He mentioned the indigenously developed vaccine, “CERVAVAC,” announced in September 2022.

The Interim Budget also proposes a new scheme for bio-manufacturing and bio-foundry, promoting environmentally friendly alternatives like biodegradable polymers, bio-plastics, bio-pharmaceuticals, and bio-agri-inputs. Dr. Jitendra Singh noted that the Department of Biotechnology will play a key role in this green growth initiative.

Additionally, the budget emphasizes achieving self-sufficiency in oil seeds, developing high-yielding varieties, promoting climate-resilient activities for a Blue Economy, and supporting indigenous solar energy manufacturers. Dr. Jitendra Singh sees these initiatives as contributing to India’s overall economy and aligning with the goal of Net Zero by 2070.

He highlighted the importance of the Deep Ocean Mission, part of the Samudrayaan Mission, aiming to explore deep-sea resources like minerals by sending a submersible called MATSYA to a depth of 6000 meters. The mission is expected to be realized in the next 2-3 years.

Dr. Jitendra Singh concluded by stating that these initiatives would provide impetus to technology-led development, realizing a five trillion dollar economy and advancing the vision of a developed India during Amritkaal.