A new scheme to develop deep tech for defence purposes: Finance Minister
The Hindu
For tech-savvy youth, a corpus of ₹1 lakh crore will be established with 50-year interest free loans for providing long term financing or refinancing with long tenures and low or nil interest rates
For tech-savvy youth, a corpus of ₹1 lakh crore will be established with 50-year interest free loans for providing long term financing or refinancing with long tenures and low or nil interest rates, announced Finance Minister Nirmala Sitharaman while presenting the Interim Budget for 2024-25.
“This will encourage the private sector to scale up research and innovation significantly in the sunrise domains,” she added.
The Finance Minister also said that a new scheme will be launched to develop deep tech for defence purposes.
On electric vehicles, she informed Parliament that government will expand and strengthen the sector through greater manufacturing and charging infrastructure.
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The government has allocated ₹1,500 crore for setting up semiconductor fabs in India under the Modified Scheme, she said.
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