Focus on research and development, says Planning Commission member

Focus on research and development should start at school and colleges, said R. Srinivasan, Economist and Full-time member of the State Planning Commission.

Speaking about the economic impact of the Union Budget at the RK Shanmukham Chetty Memorial Budget Meeting, organised by the Indian Chamber of Commerce and Industry in Coimbatore city on Thursday, he said China was far ahead in several technologies because of its huge investments in R and D.

Tamil Nadu had scope to strengthen the eco system to attract R and D companies in areas such as pharmaceuticals and biosimilars.

Education in schools and colleges should give thrust to science and technology education. “We need an R and D policy that should start at school,” he said. Tamil Nadu had a research and development policy.

With increasing use of Artificial Intelligence, more jobs will get automated and India’s population will also have more number of senior citizens by 2047. “We need to generate effective employment. We should improve skills and generate employment,” he added.

On the agriculture front, Mr. Srinivasan said India is a net importer of oilseeds and pulses. There should be a strategy to address such issues.