New Delhi: To minimise dependence on foreign technology, Prime Minister Narendra Modi and President Pranab Mukherjee together will launch one stop research funding mechanism to boost technology and research.


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This single window funding clearance mechanism worth Rs 1,000 crore has been named IMPRINT which will enable Indian technical institutions to carry out original research.


The clearance would be passed by next month (November) and will be launched by the PM and President on November 5, 2015 at the Visitor’s Conference.


The decision to establish one stop funding system has been carried out after a number of scientists and researchers have conveyed how the current bureaucratic systems were coming in the way and delaying projects at the same time discouraging institutes from taking them up.


An Inter Ministerial Group (IMG) is being established as the single window mechanism would need screening of research projects and proposals by India’s leading research and technology institutes and then approve them and earmark funds for the same. The IMG would comprise Ministry of Human Resource Development (HRD), Ministry of Defence, Department of Science & Technology, Department of Biotechnology, and Ministry of Rural Development, among others.


(With Agency inputs)