Research Development and Innovation (RDI) Scheme
▪ The Union Cabinet approved a ₹1-lakh crore Research, Development and Innovation (RDI) scheme.
▪ It aims to provide long-term financing or refinancing with long tenors at low or nil interest rates to spur private sector investment in RDI.
▪ It is an initiative of the Ministry of Science and Technology to boost private sector investment in basic and applied research to drive the development of innovative technologies and products.
▪ The scheme has been designed to overcome the constraints and challenges in funding of private sector.
▪ It seeks to provide growth & risk capital to sunrise and strategic sectors to facilitate innovation,
promote adoption of technology and enhance competitiveness.
