<h1>India's Innovation Boom: Over 1 Lakh Patents, 1.25 Lakh Start-Ups, Major Growth in Tier 2 & 3 Cities, ANRF Proposed.</h1> The Economic Survey 2023-24, presented by the Union Minister of Finance, highlights significant growth in India's innovation landscape, with over 1 lakh patents granted and more than 1.25 lakh recognized start-ups in FY 23-24. Notably, 45% of these start-ups are based in Tier 2 and 3 cities. The Anusandhan National Research Foundation (ANRF) is proposed to guide scientific research with a budget of Rs. 50,000 crore. The survey emphasizes India's top global rank in the domestic market scale indicator and reports that start-ups have filed over 12,000 patent applications since 2016, supported by investments exceeding Rs. 18,000 crore from 135 Alternative Investment Funds.