National Science Funds : Impact on Economic Development

The countries of the world require dominant growth and progressive pace to develop themselves in order to grow side by side along with the super powers of the world. There are several steps to do so and one of the important step to create a sustainable growth is the establishment of a national science fund to engage the public and national players in scientific development.

Every country in the modern time require a strong and advanced security system along with global trend of government, health, education and laws being enforced to stand tall in the world dynamics but this is not an easy goal to accomplish.

There has been numerous times when we have seen some of the countries reviving themselves from scratch after facing a downfall at least once in their history and that has only happened due to their hard work, determination, consistent efforts for the development of science and technology on individual and mutual grounds.

The government plays a great role in stressing the importance of impact and significance of science and technology by introducing national science fund to engage the national players.

One such initiative is the initiation of National Science and Technology funds. You may see contradictory opinions to this thought, but there is a dire need to do so as the growth directly results in an economic boost.

From a national science fund, a number of progressive steps can be taken that can impact the growth of economy from which some are listed below.

  • Global Workspace: Such initiatives can help to create a global workspace with scientists, researchers, and govt. executives from different countries working collaboratively for a mutual cause resulting in share of knowledge and promotion of empathy among the countries. The peaceful friendly ties can further result in collaborative projects which can boost the economy.
  • More Employment Opportunities: A workspace based on science and technology can bring a fair share of individuals and youth towards science and technology developing their interest in the field and making them opt available roles to pursue a promising career supported well by the government.
  • Local Manufacturing of Equipment: The funds can support local manufacturing of gadgets and technical equipment in the country which can boost the import and export of the country with local vendors and businesses getting benefitted more and more.

With government playing its role, the individuals of the country should also feel their responsibility towards the active promotion of science and technology responding well to the initiatives of the government and playing their part in the economic growth of the country.




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