Vote on Account 2014: FM announces “Research Funding Organization”, several space missions for 2014-15

Taking up the cause of science and technology, the Finance Minister, P. Chidambaram in his interim budget speech said that the UPA Government has “passionately espoused the cause of science, promoted scientific research and supported scientific applications and inventions.”

The FM announced that a ‘Research Funding Organisation’ is to be set up to fund research projects selected through a competitive process. He also said that contributions to that organisation will be eligible for tax benefits. “This will require legislative changes which can be introduced at the time of the regular Budget,” the FM said.

India’s space achievements, considerably the Mars Orbiter Mission (MOM), informally called Mangalyaan project, also found mention. Accomplished at a cost of Rs. 450 crore, the project put India firmly on the space exploration map. “India joined a handful of countries when it launched the Mars Orbiter Mission,” the FM said.

The FM, during his interim budget speech said that under the UPA, India has acquired capability in launch vehicle technology, cryogenics and navigation, meteorological and communication satellites.

“Several flight tests, navigational satellites and space missions are planned for 2014-15,” he added.