Which ministry is the nodal ministry for the Bio-RIDE Scheme approved in September 2024?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is Option 1: Ministry of Science and Technology.
Explanation:
- The Ministry of Science and Technology serves as the nodal ministry for the Bio-RIDE scheme, which was approved by the Union Cabinet in September 2024. This scheme is being implemented by the Department of Biotechnology (DBT), which functions under the aegis of the Ministry.
- Full form of Bio-RIDE: Biotechnology Research Innovation and Development Ecosystem.
- Objective: The primary goal of this scheme is to promote biotechnology research, innovation, and manufacturing in India. It focuses on strengthening the bio-economy and providing support to startups.
- Duration: This scheme has been implemented for the remaining period of the 15th Finance Commission, i.e., from 2021-22 to 2025-26.
- Budget: The total outlay allocated for this scheme is approximately ₹9,197 crore.
Key Components of the Bio-RIDE Scheme:
- To aid in your exam preparation, it would be useful to understand its key pillars:
- Biotechnology Research and Development (R&D): Promoting advanced research in sectors such as agriculture, healthcare, and the environment.
- Industrial Promotion: Bridging the gap between research and industry to ensure that laboratory discoveries reach the market.
- Biomanufacturing: Positioning India as a global biomanufacturing hub (integrated with the Bio-E3 policy).
- Innovation and Entrepreneurship: Providing financial assistance and infrastructure support to new startups and entrepreneurs.
Important Questions for Upcoming Examinations:
Question: Which department is responsible for the implementation of the 'Bio-RIDE' scheme?
Answer: Department of Biotechnology (DBT).
Question: By which year does India aim to reach a bio-economy valuation of $300 billion?
Answer: 2030.
Question: Who is the current Union Minister of Science and Technology?
Answer: Dr. Jitendra Singh.