What is meant by the detail I have written below:?

The statement you wrote is an opinion referring to the importance of biotechnology research, and more specifically, genetically modified foods. In the statement, the author's opinion is clear that they feel that public funding should be spent on bio-tech research.

Genetically modified foods in the form of desease resistant crops, or enhanced yeild has a potential benifit to feeding more people and eliminating world hunger. However, genetically modified foods in the form of color or flavor modifications should not be seen as an "urgent endeavor". As in just about any broad statement, there are many sides and many opinions.

Biotechnology, especially Genetically Modified Organisms requires more attention. Urgent Endeavor means that biotechnology needs more attention, more urgent attentions and more resources. Endeavor means attempt. So more attempt into Biotech research needs to be put in. A slice in national budget means that the government should spend some money into biotech research, by allocating some of the national budget to biotech research.

Essentially: Biotechnology is something that requires immediate attention and resources, and the government should fund it more strongly.

Try googling or wiki-ing "plasmid transformation". Sorry, that's all I'm gonna give, but I bet if you read up, you'll have an answer in no time...