Context:
The Union Cabinet recently approved a ?1-lakh crore Research, Development and Innovation (RDI) scheme, to be anchored by the Anusandhan National Research Foundation (ANRF). The aim is to increase private sector participation in basic scientific research, with a long-term goal of reversing the existing 70:30 public-private R&D funding ratio.
Practice Question:
India's efforts to enhance private sector investment in scientific research have often fallen short due to structural, financial, and institutional bottlenecks. Critically evaluate the recently launched ?1 lakh crore Research, Development and Innovation (RDI) scheme in this context. Also, suggest measures to improve the innovation ecosystem in India. (250 words)
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