NEW DELHI, Sep 15: Seeking to boost research and development, and entrepreneurship, the Narendra Modi-led government has operationalised the Rs 50,000-crore National Research Fund and established a venture capital fund of Rs 1,000 crore to promote startups in the space sector.
In its first 100 days in office in the third consecutive tenure, the Modi government launched projects worth around Rs 15 lakh crore, which include promoting the emergence of the semiconductor industry in the country and the National Green Hydrogen Mission (NGHM) for embracing clean energy alternatives.
A semiconductor unit will be set up in Sanand, Gujarat, with an investment of Rs 3,300 crore with a production capacity of six million chips per day.
The technical advancements have made the country the second-largest mobile producer, with the establishment of indigenous semiconductor facilities.
For disaster management, a national database and the Bhuvan Panchayat portal for rural land records have been created.
In the fields of energy and security, the government has granted approval for hydroelectric projects in the Northeast: a joint venture between state entities and central public sector enterprises with an investment of Rs 4,100 crore.
Under the VGF (Viability Gap Funding) Scheme, approval has been given for hydroelectric projects worth over Rs 12,400 crore.
The 100 days of welfare for the public also include the approval of offshore wind energy projects worth Rs 7,450 crore.
Under the NGHM, the second tranche has been provided for electrolyser manufacturing, increasing domestic electrolyser manufacturing capacity to 1.5 gigawatts per year.
Prime Minister Narendra Modi has also introduced a Green Credit Programme for PSUs for tree planting and environmental restoration.
The projects also include faster adoption and manufacturing of electric vehicles in India phase-III (FAME-III) scheme in the same direction.
Additionally, the JI-VAN Yojana is being used towards the promotion of advanced biofuels.
The government has approved Rs 12,554 crore for states for Urban Flood Management, firefighting services, Glacial Lake Outburst, Flood Mitigation, and other disaster mitigation efforts.
An expert team has also been set up to address the problems of urban flooding as witnessed in Andhra Pradesh recently. (PTI)
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