India should increase investment in R&D to 2 per cent of GDP: Niti Aayog

Niti Aayog has urged India to boost research and development investment to two percent of GDP within five years. The report suggests restoring a five percent GST slab for R&D procurement. It also calls for fiscal incentives to encourage private sector R&D spending. Strengthening CSR provisions and tax deductions for R&D donations are also recommended.