{"id":86163,"date":"2019-07-26T16:17:36","date_gmt":"2019-07-26T10:47:36","guid":{"rendered":"http:\/\/factly.forumias.com\/?p=8489"},"modified":"2019-07-26T16:17:36","modified_gmt":"2019-07-26T10:47:36","slug":"release-of-indias-rd-expenditure-eco-system-report","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/release-of-indias-rd-expenditure-eco-system-report\/","title":{"rendered":"Release of India\u2019s R&D expenditure eco-system report"},"content":{"rendered":"\n
  1. The Economic Advisory Council to the Prime Minister (EAC-PM) has released a report titled \u2018R&D Expenditure Ecosystem\u2019.<\/strong><\/li>
  2. The report has said that the growth in research and development(R&D) expenditure should be commensurate with the economy\u2019s growth and should be targeted to reach at least 2% of the gross domestic product (GDP) by 2022.<\/li>
  3. The report has pointed out that India\u2019s public investment in R&D as a fraction of GDP has remained stagnant over the last two decades.<\/li>
  4. It has remained constant at around 0.6% to 0.7% of GDP and this is well below the major countries such as the United States (US)(2.8%), China (2.1%), Israel (4.3%) and Korea (4.2%).<\/li>
  5. The report has said that government expenditure on R&D is undertaken almost entirely by the central government.It has called for greater participation of state government and the private sector in overall R&D spending.<\/li>
  6. To stimulate the private sector\u2019s investment in R&D from current 0.35% of GDP,it has suggested that a minimum percentage of turn-over of the company may be invested in R&D by medium and large enterprises registered in India.<\/li>
  7. The report has recommended that states can partner with Centre to jointly fund research and innovation programmes through socially designed Central Sponsored Schemes(CSS).<\/li>
  8. The report also pitched for creating 30 dedicated R&D Exports Hub and a corpus of Rs 5,000 crore for funding mega projects with cross cutting themes which are of national interest.<\/li>
  9. PMEAC<\/strong> is a non-constitutional, non-permanent and independent body constituted to give economic advice to the Government of India, specifically the Prime Minister.<\/li>
  10. The council serves to highlight key economic issues facing the country to the government of India from a neutral viewpoint.It advises the Prime Minister on economic issues like inflation, microfinance, and industrial output.<\/li><\/ol>\n","protected":false},"excerpt":{"rendered":"

    The Economic Advisory Council to the Prime Minister (EAC-PM) has released a report titled \u2018R&D Expenditure Ecosystem\u2019. The report has said that the growth in research and development(R&D) expenditure should be commensurate with the economy\u2019s growth and should be targeted to reach at least 2% of the gross domestic product (GDP) by 2022. The report… Continue reading Release of India\u2019s R&D expenditure eco-system report<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3127],"tags":[3716,3585,3717],"class_list":["post-86163","post","type-post","status-publish","format-standard","hentry","category-economy","tag-expenditure","tag-pmeac","tag-research-and-development","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704874168},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/86163","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=86163"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/86163\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=86163"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=86163"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=86163"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}