Union Science and Technology Minister S. Jaipal Reddy on 4 January 2013 declared that the Centre’s allocation for the science and technology and earth sciences ministry had been doubled for the 12th Plan period.
The declaration came in the inauguration ceremony of Children Science Congress as part of the 100th Indian Science Congress where Jaipal Reddy announced that in the 12th Five-Year Plan, the combined planned allocation for science and technology and earth sciences had been nearly doubled from 33000 crore rupees in the previous Plan period to around 60000 crore rupees in the present 12th plan period.
The Minister S. Jaipal Reddy also stressed on the newly announced Science, Technology and Innovation Policy, and recommended that the policy would emphasise on the importance of greater innovation and suggested that there is a need for integrating science, research and innovation to develop valuable technologies.
A PM Doctoral Research Fellowship in partnership with industry had also been initiated where already 30 (such) fellowships have been awarded to doctoral students. The Minister invited the students of the country to avail such opportunities like the Prime Minister's Research Fellowship scheme being offered by the Government of India.
He pointed out that India’s dynamic, developed and diversified industrial and services sectors have been built on the strength of its techno-entrepreneurial talents.
India has over 700 R&D, technical and development centres of the top global companies, employing over 1.5 lakh scientists and engineers. As per the Minister, This confidence of global majors in youth had given boost to some of India’s best and talented young technocrats to become first generation technopreneurs.