New Delhi, February 24: Union Finance Minister Nirmala Sitharaman on Saturday underscored the government's commitment to the principle of "innovate from India to innovate for India," highlighting that it has been the guiding philosophy in their approach. The Finance Minister said that the growing India benefits from the contributions across various sectors by the skilled youth of India in the country's development.

"Innovate from India to innovate for India is the principle with which our government has worked, so innovation gets all the support," Sitharaman said. Sitharaman, while attending the inauguration of the new campus of BITS Pilani, commended the significant contributions of BITS students to India's thriving startup ecosystem. India Has Moved to 5th Spot From 10th in World in Terms of Economy, Says Finance Minister Nirmala Sitharaman.

The Finance Minister emphasized the government's unwavering support for innovation, citing a recent budget announcement where a corpus of Rs 1 lakh crore was allocated for a special purpose vehicle dedicated to funding research and development activities. "In my latest budget, the vote on the account budget, I had announced that there will be a corpus of Rs 1 lakh crore given for the corpus for a special purpose vehicle which will be created by the government, which will be funding innovations and research and development activities," she added.

Sitharaman stressed the collaborative efforts of the government in propelling India's growth and fostering innovation. "A growing India draws from its skilled youths who contribute to the nation's development. The impact of a well-rounded education is such that different services and different domains benefit from their presence," she added. Farmers’ Protest: PM Narendra Modi Has Taken Every Step To Increase the Income of Farmers, Says Finance Minister Nirmala Sitharaman (Watch Video).

The Finance Minister also rejected the notion, often presented by Western leaders, that India should adopt a culture of charity, presenting BITS Pilani as an example of an institution promoting quality education and supporting students in need, showcasing various charitable initiatives. She further added that "most often we are lectured by the Western top leader that India should have a culture of charity, I thoroughly disagree with them with an example of the institution I am standing here which promotes good education, and funds to needy students and sets a good example of various other charitable work they have done."

Union Minister further said that the impact of well-rounded education is such that different services and domains benefit from its presence. "Today, India's growing start-up industry has actually very much benefited from the BITSian youngsters," she added.

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