Hyderabad, July 23 (UNI) To bolster R&D and strengthen India's standing globally, the allocation of 71000 crore in the Union budget, towards venture capital in space technology is a welcome move, Prof Soumyo Mukherji, Senior Professor Department of Electrical Engineering & Director, BITS Pilani Hyderabad Campus, said on Tuesday.

In a statement here, Prof Mukherji, while reacting on the budget, said that "One of the main focus areas laid out by Union Finance Minister Nirmala Sitharaman for Viksit Bharat is innovation, research & development.

Hence the allocation (Rs 1000 crore) for private led research. However, the latest economic survey underscores a critical reality stating that one out of every two Indian graduates lacks employable skills, the Director said.

Upskilling for producing industry-ready graduates is an urgent need, he said.

Although some effort has been taken in that regard (in terms of internship scheme, new ITIs), a budget with higher allocation for education and research would have been welcome, Prof Mukherji remarked.

It is only through efforts like this that, "Make in India, Make for India, Export to the world", will be a reality, he opined
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