Chief minister Digambar Kamat who is also the industries minister told TOI on Thursday that although the state had notified the biotech policy earlier, no schemes had been framed. “We have now given formal approval to three schemes and hope to attract more investments in this sector. Across the country, the thrust is now on the biotech sector. Attracting such industries will definitely benefit our state,” Kamat said.
The state biotech policy, which was notified in 2006, has been renewed for the further period up to March 2012 and the three schemes will run concurrently with the policy. The three schemes are: Goa state investment subsidy scheme, Goa state employment subsidy scheme and interest subsidy scheme, all applicable only to biotechnology units.
The investment subsidy scheme is applicable to micro, small, medium and large biotech units. The state investment subsidy for biotech units represents 15% by value of the fixed capital investment of a biotech unit located in the state, subject to a maximum limit of Rs 15 lakh. The state subsidy employment scheme for biotech units, among other things, hopes to boost employment to local youth, create manpower suitable to the needs of the industry and to revive sick industrial units in Goa.
The subsidy shall be given to the eligible units at a rate of Rs 15,000 per employee per annum subject to a maximum amount or Rs 75 lakh per year to one unit for a period of two years from date of operation. The interest subsidy scheme aims to boost micro and small biotech units in Goa. The subsidy shall be given to eligible units to the extent of 1.5% of the total net turnover or 30% of the interest paid by the units, whichever is less, subject to a maximum ceiling of Rs 5 lakh per annum per unit.
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