11 March 2026·PIB

PARLIAMENT QUESTION: RDI SCHEME

In this note

1. At a Glance

Research, Development and Innovation (RDI) Scheme: Union Cabinet-approved scheme with a ₹1 lakh crore corpus over 6 years to provide long-tenor, low/nil-interest financing (and equity for startups) to spur private sector R&D in sunrise & strategic sectors. [2][1]
Operationalised via a Special Purpose Fund (SPF) parked within the Anusandhan National Research Foundation (ANRF) under a two-tiered funding structure (SPF → Second-Level Fund Managers → industry/startups). [1][3]
Relevant for GS-III (Science & Tech, Indian Economy — R&D financing) and GS-II (Government schemes). [1]

11 March 2026: Ministry of Science & Technology answered a Parliament Question confirming that DST has finalised implementation guidelines & Special Financial Rules for the RDI Fund, approved by the ANRF Executive Council; scheme does not fund universities directly. [1]
First RDI Fund call launched by Union Minister Dr. Jitendra Singh; first TDB window for high-risk technology commercialisation unveiled. [4]

2023: Anusandhan National Research Foundation Act, 2023 enacted; ANRF set up as apex body replacing SERB. [5]
2024 (1 July): Union Cabinet approved the RDI Scheme with ₹1 lakh crore corpus. [2]
2025: ANRF Executive Council approved operationalisation decisions for the RDI Fund. [3]
2026: Implementation guidelines finalised; first funding call issued. [1][4]

Nodal Department: Department of Science & Technology (DST), Ministry of Science & Technology. [1]
Custodian/Implementing body: Anusandhan National Research Foundation (ANRF) via Special Purpose Fund (SPF). [1][2]
Apex governance: Governing Board of ANRF chaired by the Prime Minister gives strategic direction; Executive Council of ANRF approves guidelines & recommends SLFMs. [2][3]
Corpus: ₹1,00,000 crore over 6 years. [2]
Funding type: Long-tenor, low/nil-interest, largely unsecured loans; equity for startups. [2]
Second-Level Fund Managers (SLFMs): Technology Development Board (TDB) — all sunrise/strategic sectors; Biotechnology Industry Research Assistance Council (BIRAC) — biotech & allied. [3]
Eligible SLFM categories: AIFs, DFIs, NBFCs (besides TDB/BIRAC). [2]
Sunrise/Strategic sectors: energy security, climate action, quantum computing, AI, biotechnology, digital economy, deep-tech. [2]
Special Financial Rules drafted in consultation with Dept. of Economic Affairs (DEA) & Dept. of Expenditure (DoE). [1]

Economic: Targets India's low GERD (~0.65% of GDP); crowds in private R&D capital via concessional, unsecured loans; equity instrument helps deep-tech startups bypass collateral constraints. [2]
Scientific/Technological: Focus on sunrise tech — quantum, AI, biotech, climate — aligns with national missions; TDB & BIRAC bring sectoral domain expertise as SLFMs. [2][3]
Administrative: Two-tier architecture insulates corpus (SPF) from project risk; SLFMs handle appraisal & disbursal; DST nodal, MoF concurrence on financial rules. [1]
Governance/Ethical: PM-chaired Governing Board ensures top-level political ownership; Executive Council vets SLFMs to maintain arm's-length disbursal. [2][3]
Strategic: Explicit inclusion of "strategic domains" (energy security, deep-tech) signals tech-sovereignty intent. [2]

1 July 2024: Cabinet approval of RDI Scheme & ₹1 lakh crore corpus. [2]
2025: ANRF Executive Council approval for RDI Fund operationalisation. [3]
Early 2026: Dr. Jitendra Singh launches first RDI Fund call + first TDB high-risk tech commercialisation window. [4]
11 March 2026: Parliament Q&A confirms guidelines & Special Financial Rules finalised; clarifies no direct university funding. [1]

RDI Scheme corpus: ₹1 lakh crore over 6 years. [2]
Nodal department: DST (not DBT, not MeitY). [1]
Custodian fund: Special Purpose Fund (SPF) within ANRF. [1]
Governing Board of ANRF chaired by the Prime Minister. [2]
Statutory parent: ANRF Act, 2023. [5]
Two SLFMs notified: TDB and BIRAC. [3]
TDB covers all sunrise & strategic sectors; BIRAC covers biotechnology. [3]
Special Financial Rules framed with DEA + DoE consultation. [1]
Scheme provides no direct funding to universities. [1]
Financial support is largely unsecured, long-tenor, low/nil-interest; equity for startups. [2]
Eligible SLFM forms include AIFs, DFIs, NBFCs. [2]
Strategic domains include quantum computing, AI, biotech, digital economy, climate, energy security. [2]

GS-III — Science & Technology; Indian Economy (mobilisation of resources, R&D financing).
GS-II — Government policies & interventions; statutory bodies (ANRF).
Plausible question stems: 1. "Examine how the RDI Scheme, operationalised through ANRF, attempts to bridge India's private-sector R&D gap. (15 marks)" 2. "Discuss the institutional architecture of the Anusandhan National Research Foundation and its role in fostering innovation in sunrise sectors. (10 marks)" 3. "A two-tiered fund-of-funds structure is essential for de-risking innovation finance in India. Critically analyse with reference to the RDI Scheme. (15 marks)"

ANRF Act, 2023 — parent statute of the scheme.
SERB — predecessor body subsumed by ANRF.
Deep Tech Fund of Funds — complementary instrument under DPIIT.
National Quantum Mission / IndiaAI Mission — sectoral missions feeding RDI demand.
Technology Development Board (TDB) — SLFM, statutory body under DST.
BIRAC — Sec-8 company under DBT, SLFM for biotech.
GERD & R&D spending in India — context for the policy push.
Startup India / Fund of Funds for Startups (SIDBI) — comparative financing model.

Wrong nodal: Many assume it is under MeitY or DBT; it is DST. [1]
Universities funded directly? — No. RDI Scheme does not directly fund universities; routed via SLFMs to industry/startups. [1]
ANRF vs NRF: ANRF replaced the earlier proposed "NRF"; it subsumes SERB, not the UGC.
Corpus tenure: ₹1 lakh crore is over 6 years, not annual. [2]
SPF location: SPF sits inside ANRF, not under Ministry of Finance. [1]
SLFMs are not banks: TDB & BIRAC plus AIFs/DFIs/NBFCs — not scheduled commercial banks. [2][3]