New Delhi: The government on Saturday notified the board of directors and executive council of Anusandhan National Research Foundation (ANRF), a new research funding agency with an outlay of Rs 50,000 crore over the next five years.

The 15-member ANRF board will have Prime Minister Narendra Modi as its chairman and science, technology and education ministers as two vice-chairmen.

Secretaries of the departments of science and technology; scientific and industrial research; biotechnology; and higher education; member, Niti Ayog, dealing with science and technology; The government's main scientific advisor will be members of the ANRF board of directors.

Additionally, Princeton University professor Manjul Bhargav; president of Symphony Technology Group, California Romesh Wadhwani; the president of the Indian Council of Historical Research, Raghuvendra Tanwar, the director of the Tata Institute of Fundamental Research, Jayaram Chengalur; Indian Institute of Science director G Rangarajan and Subra Suresh, professor at Large Brown University, will be members of the board of directors.

The 16-member executive council will be chaired by the government's chief scientific adviser and will have secretaries in the science and technology departments; Earth sciences; biotechnology; scientific and industrial research; higher education; health research; defense research and development; atomic Energy; space; agricultural research and education; ministry of electronics and information technology; ministry of new and renewable energies; the CEO of ANRF and Rangarajan and Chengalur as members.

Earlier, Abhay Karandikar, Secretary, Department of Science and Technology (DST), was appointed as the acting CEO of ANRF.

The ANRF includes within itself the Science and Engineering Research Board (SERB), created by Parliament in 2008.

The foundation will seed, grow and promote research and development (R&D) and foster a culture of research and innovation in all universities, colleges, research institutions and R&D laboratories in India.

The bill to create the ANRF was passed by both Houses of Parliament in August last year.

The ANRF is a movement to provide high-level strategic direction for research, innovation and entrepreneurship in the fields of natural sciences, including mathematical sciences, engineering and technology, earth and environmental sciences, health and agriculture, and has an effect and results for each citizen.