Explanation:

• Statement 1 is incorrect: of the Rs 50,000 crore set aside NRF over five years (2023-28), some Rs 36,000 crore (72 per cent) was expected to come from the private sector. “Thus, the government is envisaging spending only around Rs. 14,000 crore over five years”.

• Statement 2 is correct: The Foundation will be chaired by the Prime Minister of India.

Anusandhan National Research Foundation (ANRF)

• Establishment: Established in 2023 through the Anusandhan National Research Foundation Act.

• Mandate:

• To seed, grow, and promote Research and Development (R&D).

• Foster a culture of research and innovation across educational and research institutions.

• Serve as the apex body for strategic direction in scientific research.

• Structure:

• Governing Board: Provides high-level strategic direction.

• Executive Council: Responsible for day-to-day operations.

• Scientific Advisory Council: Provides expert advice on scientific matters.

• Functions:

• Funding research projects across various disciplines.

• Creating an interface for collaboration between industry, academia, and government.

• Fostering international collaborations in research.

• Supporting the development of research infrastructure.

Hence option 2nd is correct.