The Union Ministry of Science & Technology has been allocated `16,361 crore in the Budget 2023-24, an increase by `2,000 crore what the Ministry received in the previous Budget. The jump in allocation to the Ministry comes on the back of several big plans, including setting up new centers of excellence for Artificial Intelligence while fund has been cut for the schemes that are moving at the snail pace.
The allocation is divided among three departments in the Ministry: the Department of Science and Technology, the Department of Biotechnology, and the Department of Scientific and Industrial Research.
The Government allocated Rs 7931.05 crore to the Department of Science and Technology along with `2683.86 crore to the Department of Biotechnology. Meanwhile, the Department of Scientific and Industrial Research has been doled out `5746.51 crore.
While the Ministry of Science & Technology saw a significant jump in its annual allocation, the budget for the Department of Space has been slashed by `1100 crore from the last financial year.
The Centre allocated `12543.91 crore to the department of space, which is responsible for India’s space program, as opposed to `13,700 crore in budget 2022-23.