Now Reading: Rs 1 lakh crore deep-tech fund faces conflict-of-interest questions
-
01
Rs 1 lakh crore deep-tech fund faces conflict-of-interest questions
The government's Rs 1 lakh crore Research, Development and Innovation Fund faces scrutiny after a parliamentary disclosure showed that members of the Technology Development Board's investment committee had financial links to companies…
The Story in Brief
The government's Rs 1 lakh crore Research, Development and Innovation Fund faces scrutiny after a parliamentary disclosure showed that members of the Technology Development Board's investment committee had financial links to companies that received funding. TDB secretary Rajesh Pathak told The Hindu that such conflicts are 'unavoidable' and managed through recusal and super-majority voting. Congress MP Praveen Chakravarty, who raised the issue, said he does not allege wrongdoing but wants stronger safeguards. A media report said 15 of 22 selected companies had links to seven committee members. Rs 2,192 crore has been disbursed so far.
The Indian Opinion
The Congress is right to demand transparency for public money, but calling it a 'conscious decision to look the other way' ignores the TDB's argument that expertise in deep tech inevitably comes with industry ties. The real test is not whether conflicts exist but whether the recusal and super-majority voting rules are followed strictly. Watch for the next tranche of approvals: will the government publish the voting records of conflicted members?
Sources (2): timesnownews.com, thehindu.com
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
