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# Budget2017: Lack of enough measures fail to quench deep thirst of bioscience industry!
While increase in research funding, tax sops for SMEs besides focus on rural health and farming has brought cheers to few sections, the wider expectations especially from corporate world of the sector remain unfulfilled. Our report on the budget 2017!
RAHUL KOUL( Inputs by Sachin Arya)
The union budget 2017 presented on 1 st February by the Finance Minister, Mr Arun Jaitley, was broadly focused on the farming sector, rural population, underprivileged healthcare, infrastructure, the financial sector for stronger institutions, speedy accountability and tax administration for the honest.
The Finance Minister has done his best to put forward a best balancing act. While the focus on healthcare schemes is much appreciable, the overall funds remain meagre. The Universal Health Programme, which was an election promise of the current government is yet to see the light. The agriculture needs a big push at the level of entrepreneurship and transformation into a credible sustainable industry to become a reliable pillar of overall GDP. The allocations for research and development is a right step and will build confidence among our scientists and innovators. The tax rebates and incentives for the smaller and medium companies too is a welcome step.
The Department of Biotechnology under Ministry of Science and Technology has received 22
16 BioVoiceNews | February 2017