Union Budget 1999-2000 Govt. of India Ministry of Finance

Budget Speech


Yashwant Sinha

Speech of Shri Yashwant Sinha
Finance Minister, Government of India
27th February, 1999

but.gif (597 bytes) Science and Technology

30. "Jai Vigyan" is the tribute so aptly paid by our Prime Minister to hail the achievements of our scientists. The time has come to unleash the creative potential of our scientists and innovators at grass roots level. Only then we can make India truly self-reliant and a leader in sustainable technologies. I propose a national foundation for helping innovators all over the country. This Fund, with an initial corpus of Rs.20 crore, will build a national register of innovations, mobilise intellectual property protection, set up incubators for converting innovations into viable business opportunities and help in dissemination across the country.

31. Our research institutions have the capacity to evolve new vaccines that will revolutionise the medical and health systems. We propose to set up a Technology Mission on vaccines to provide a focus to the effort.

32. Our country is endowed with diverse and precious genetic resources, which need to be prudently conserved and managed. Among the 18 hot spots of bio-diversity in the world, two happen to be in India, in the Eastern Himalayas and the Western Ghats respectively. To coordinate policies, research, documentation and legal protection of the country’s rights in this important area, a National Bio-resources Board (NBB) will be set up under the Chairmanship of the Minister of Science and Technology.






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