Advancement in technology and innovations has mostly helped the rich without adequately solving problems of the poor. This state of affair must change, Prime Minister Manmohan Singh said on Tuesday.
New Delhi: Advancement in technology and innovations has mostly helped the rich without adequately solving problems of the poor. This state of affair must change, Prime Minister Manmohan Singh said on Tuesday.
Taking the first major step in this direction, government announced infusion of Rs 100 crore seed money for a Rs 5,000 crore innovation fund for supporting new ideas which will be of useful for the masses.
"We have made innovations in areas such as space technology, atomic energy and automobiles. But innovation in our country has focused mostly on the needs of rich and not adequately on solving problems of the poor. We wish to change this state of affair," Singh said while releasing a report of the National Innovation Council.
Innovation, he said, can be "a game-changer to move from incremental change to radical change. And therefore it is our resolve to build an enabling environment for innovation to flourish."
To encourage innovation, Finance Minister Pranab Mukherjee announced that government would provide an initial capital of Rs 100 crore to the India Inclusive Innovation Fund (IIIF).
The Council has chalked out a plan to raise Rs 5,000 crore for promoting innovation.
The country, Singh said, needed models of innovation to address problems in areas such as poverty alleviation, health, rural communications, agriculture, animal husbandry, green energy and so on.
Source:-ZEE News, Nov 15, 2011