| Biotechnology
Policy 2001 |
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Andhrapradesh Government announced its Biotechnology policy 2001, which is dedicated to the late Dr Yellapragada Subha Rao, an outstanding chemist. According to the policy, the government has fixed a nominal sales tax of 1 percent for high-end biotech products for a period of ten years. Government promise to creating a hassle free environment for the biotech industry through simplification of procedures and providing several incentives.
The government will provide land at concessional rate for developing housing and recreation facilities around the proposed Genome Valley for personal working in biotech field. Special incentives will be offered on a case by case basis to mega projects. With an investment of more than 50 crore in a new company or in the expansion of an existing company which provides
employment to more than 250 scientists, technically qualified in the area of biotechnology related fields.
Government land will be provided on lease or as equity to other biotech parks and offer a rebate in the cost of land at rs 20,000 per job created for persons specialising in bioinformatics. This Bioinformatic centers will be permitted to be established with out any location restrictions. Companies setting up bioinformatic centres in the Genome Valley will get a rebate of Rs 30,000 per job created, subject to the value of government land and cent percent exemption from registration and stamp duties. Same time special incentives will be offered on a case by case basis.
The government will allot its lands either free cost or at a concssional rate and give grants for capital expenditure to institutes of training in the field on a case by case basis in the Genome Valley. The biotech industry is exempted from the purview of statutory power cuts, while the industrial power tariff will be applicable to the biotech industry. |
