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Time of India

Cabinet nod to Rs 1,113cr biotechnology devpt scheme

1 2 3 Bhubaneswar: The state cabinet, under the chairmanship of chief minister Mohan Charan Majhi, on Friday approved a comprehensive five-year biotechnology development scheme with an outlay of Rs 1,113.50 crore. The programme will be implemented from 2025-26 to 2029-30. The 'Development of Biotechnology' initiative, comprising 17 sub-schemes, aims to transform Odisha into a knowledge-driven bio-economy by leveraging the state's rich biodiversity and existing research infrastructure. "This scheme will create a robust ecosystem for innovation, incubation and investment in the biotechnology sector," a govt statement said. The programme aligns with the state's Industrial Policy Resolution (IPR) 2022, which identifies biotechnology as a thrust sector. The scheme's primary objectives include promoting higher education and research infrastructure, developing a supportive ecosystem for innovation and industry, aligning academic excellence with industry requirements and facilitating product development and commercialisation. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 임플란트 최대 할인 지원해드려요 임플란터 더 알아보기 Undo It will also promote utilising biotechnology innovations for socio-economic development. The new scheme aims to bridge the gap between academia and industry while fostering collaboration across sectors including agriculture, medicine and environmental sciences. The initiative complements the recently announced Odisha Biotechnology Policy, 2024, offering incentives for advanced infrastructure development and positioning the state as a biotechnology hub. The cabinet also gave its nod to modalities of the Mukhyamantri Sahari Bikash Yojana (MSBY), with a massive outlay of Rs 6,000 crore over five years. The scheme, aligned with the state's "Viksit Odisha@2036 vision", aims to revolutionise urban infrastructure and boost revenue generation across cities. For the initial year (2025-26), the state has allocated Rs 1,100 crore in the last budget. The scheme, scheduled to run from 2025-26 to 2029-30, will focus on four key areas — urban infrastructure development, wage employment, water body development and animal welfare. Under the infrastructure component, the scheme will develop various facilities, including kalyan mandaps and multi-purpose halls, market complexes and vending zones, roads, drains, and parking facilities and EV charging stations, among others. The cabinet also gave its nod to exempt land premium of Rs 2.60 crore for lease of a piece of land to Narcotics Control Bureau for construction of its building. Get the latest lifestyle updates on Times of India, along with Eid wishes , messages , and quotes !