Research Development and Innovation Scheme: ₹1 Lakh Crore Cabinet Nod
Why in the news
The Union Cabinet cleared the RDI Scheme, a ₹1 lakh crore push to strengthen research and innovation in economically and strategically important sectors.
Key facts
- Special Purpose Fund (SPF): central custodian under ANRF.
- Second-level fund managers: chosen by ANRF; give long-term concessional loans or equity after evaluating projects.
- Goals: more private R&D, support for high Technology Readiness Level projects, technology acquisition, and a Deep-Tech Fund of Funds.
| Body | Role |
|---|---|
| Governing Board (PM chairs) | Strategic oversight |
| ANRF Executive Council | Picks projects and fund managers |
| Empowered Group of Secretaries (Cabinet Secretary chairs) | Reviews and implements |
Need for the scheme
- GERD stood at ₹1.27 lakh crore in 2021, only 0.64% of GDP.
- Economic Survey 2024-25 called it insufficient; private R&D is held back by money and risk limits.
Exam angle
- Nodal department: DST; loan tenure: 50 years; related terms: GERD, TRL, ANRF.