Need for systemic reforms in regulatory system called by Principal Scientific Advisor

Need for systemic reforms in regulatory system called by Principal Scientific Advisor

Professor K VijayRaghavan, the Principal Scientific Adviser to the Government, has called for systemic reforms in the regulatory system and broadening the mechanism of Corporate Social Responsibility (CSR).

Key Points:

• The reforms have been called by the Principal Scientific Advisor for utilising the activities of Research and Development in the country.
• Professor K Vijay Raghavan made the statement in the high-level Industry consultation that was held for the formulation of the new Science, Technology and Innovation Policy, STIP 2020.
• The focus of the consultation was on the necessity for higher incentives and the need to encourage the industry for the funding of Research and Development and ways to utilise the funds under the Corporate Social Responsibility.
• The meeting also focused on the requirement of a strong and robust policy for a longer timeline to attract investments for science and technology.
• The consultation was the first-ever meeting for formulating a Science, Technology, and Innovation Policy in India and was held by the ‘STIP 2020 Secretariat’ over a virtual platform in collaboration with Science Policy Forum and Confederation of Indian Industry (CII).