New Delhi, Jun 28 (IANS): The Union Cabinet on Wednesday approved the introduction of the National Research Foundation (NRF) Bill, 2023, in the Parliament, which will pave the way to establish the body that will seed, grow and promote research and development (R&D) across universities.

The bill, after approval in the Parliament, will establish NRF, an apex body to provide high-level strategic direction of scientific research in the country as per recommendations of the National Education Policy at a total estimated cost of Rs 50,000 crore during the current five years (2023-28).

It will focus on creating a policy framework and putting in place regulatory processes that can encourage collaboration and increased spending by the industry on R&D.

The bill will also repeal the Science and Engineering Research Board (SERB) established by an act of Parliament in 2008 and subsume it into NRF, which has an expanded mandate and covers activities over and above the activities of SERB.

The Department of Science and Technology will be the administrative department of NRF which will be governed by a governing board consisting of eminent researchers and professionals across disciplines.

The Prime Minister will be the ex-officio President of the board and the Ministers for Science and Technology and Education will be the ex-officio Vice-Presidents.

NRF’s functioning will be governed by an executive council chaired by the principal scientific adviser to the government.

NRF will forge collaborations among the industry, academia and government departments and research institutions, and create an interface mechanism for participation and contribution of industries and state governments in addition to the scientific and line ministries.