The Ministry of Science & Technology has been allocated Rs 16,361 crore in the budget 2023-24 presented by Finance Minister Nirmala Sitharaman in Parliament on Wednesday. The allocation is over Rs 2000 crore more than what the ministry received in the previous budget.
The new figures were released by the Finance Ministry as part of its budget estimates for the new financial year. The ministry received Rs 14,217.46 crore for the Financial Year 2022-23. 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.
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. Sitharaman allocated Rs 7931.05 to the Department of Science and Technology along with Rs 2683.86 to the Department of Biotechnology. Meanwhile, the Department of Scientific and Industrial Research has been given Rs 5746.51. 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 Rs 1100 crore from the last financial year.