Union Minister for Science, Technology and Earth Sciences Ashwini Kumar on Sunday said that if India wants to utilize its expertise in the field of Research & Development (R&D), its budgetary allocation should be raised 1.5 to 2 per cent which is currently 0.98 per cent of the Gross Domestic Product (GDP).
Pointing out that this issue has been raised in the meeting of the Planning Commission, Kumar said with the increase in budget for R&D, none of the research establishments would suffer.
He also said that India can certainly afford to raise the percentage as India is a two trillion dollar economy, so that the public and private sector both can be roped in it.
He informed that the role of private sector in the R&D is good and further added that they would like to encourage private sector, which has significantly gained from the public sector in the past.
Pointing out that the union government is seized of the task to reignite interest of younger generation in the science and technology, he said it is important for our country to have pool of science and technology personnels.