Investigation finds tech fund conflicts: 62% lent to panel-linked firms

The Indian government created a very big pot of money called the Research, Development and Innovation fund to help new technology companies grow.

Recently, the fund gave about Rs 2,192 crore to 22 companies working on space, energy, and medicine.

A small group of seven experts decides which companies should get the money.

A newspaper called The Indian Express checked where this money actually went.

It found that many of the companies that got money had connections to the experts on that panel.

In fact, about 62 percent of the money went to companies that were linked to panel members.

The chairman of the panel, Saurabh Srivastava, was connected to nine of the funded companies.

The government says all the choices were fair and made 'purely on merit.'

The experts say they must tell everyone about their business connections and step away when those companies are discussed.

This way, people can decide for themselves whether the process is fair or needs more rules.