Union Finance Minister Nirmala Sitharaman has said that the innovation is going to be key factor in making India a developed nation by 2047. Addressing the valedictory function of (Corporate Social Responsibility) CSR summit on 'Technologies for a better tomorrow' in IIT Madras on Sunday. Ms. Sitaraman said the Union government has decided to allow corporate India to use their mandatory corporate social responsibility spending on publicly-funded incubators and contribute to research efforts in science, technology, medicine and engineering at major institutions and bodies.  <br />'' <br />''Ms.Sitaraman inaugurated The national center for precision Medicine in Cancer at IIT Madras. She also inaugurated CAMS – IITM FIN TECH Innovation Lab and released a book written by entitled 'Date Sciences for Engineers' written by Professor Raghuram''<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:normal"><br />''</p>