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September, 2006 Pragati Maidan, New Delhi, India |
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Pharma companies still in dark about enhanced R and D fund.
The Finance Minster a few days ago announced an Rs1500million increases in the R&D fund. However, even though this fund has actually been proposed in the 2000-01 budget the government’s disbursement from the fund id still to cross Rs100 million.
The fund, which was introduced to support, the industry’s R&D initiatives is very well being questioned by the industry players since the disbursement from the original fund is itself less than 7%.
The reason that the five financial year old fund is still a non- starter is that the fund has changed hands from the Department of Chemicals and Petrochemicals to the Department of Science and Technology and various other department and now has reached the Drug Development Promotion Board, a new body constituted by the government for the disbursement of the fund.
Date: 04-Mar-2005
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