Budget 2013: Science & technology sector gets 12% boost

New Delhi, Feb 28: On National

day, the science and technology sector got a boost of 12 percent in the union budget while a dedicated fund of Rs.200 crore has been allotted to bring the benefits of scientific innovations to common people.

"Despite our constraints, we must find resources for departments of science and technology, space and atomic energy," said P Chidambaram, Finance Minister, allocating them Rs.6,275 crore ($1,170 million) compared to Rs.5,030 crore ($938 million) in 2012, an increase of 24 percent, in the budget.

"While we extol the virtues of science and technology, I think we do not pay enough attention to science and technology for the common man," he said.

The finance minister said that with the help of ministry of science and technology and the principal scientific adviser, he has identified a few amazing scientific innovations.

"I propose to set a Rs.200 crore to fund organisations that will scale up and make the products available to the people," he said.

He said the National Innovation Council (NIC) will look at the management and application of the fund.

IANS