The Jharkhand government on Tuesday approved the setting up of a pharma park in Ranchi. The pharma park will be built at Barhe village in Chanho block with an estimated cost of Rs 34.94 crore. Of this amount, the state government will give Rs 13.47 crore. Spread across 50 acres of land, the pharma park will increase Jharkhand’s share in the pharmaceutical business in the country. It currently stands at just one per cent.
The cabinet decision is also considered important given the Covid-19 pandemic is still far from over. Jharkhand’s share in the pharmaceutical sector across Eastern India is five per cent. Pharmaceutical companies that are interested in investing in the upcoming facility can also avail several government benefits.
The state government has made a provision of up to 20 per cent subsidy on project investment while giving 100 per cent exemption on stamp duty and registration. Companies can also get the assistance of up to Rs 10 lakh on quality certification. A rebate of Rs 10 lakh on patent registration is also being offered.
Businesses will also be eligible for a 75-80 per cent rebate in GST filings with a five per cent interest subsidy. To attract pharmaceutical companies, the state government will equip the park with a research facility, incubation centre, and data management system. With such facilities, the pharma park can help in discovering new drugs as well.
The pharma park will also have banks, post offices, administrative buildings with an open space of 1.59 acres.
During the cabinet meeting, Chief Minister Hemant Soren also approved changes to the Integrated Child Development Scheme (ICDS). Now, children will get one boiled egg with their meals at least six days of the week at all the 30,000 Anganwadi centres in the state. Earlier, there was a provision of one egg at least three days a week.
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