Bihar is potentially emerging as a new pharma hotspot

Over the last few years, Bihar has experienced a substantial rise in the healthcare sector.

The health status in Bihar is moving at a faster phase - UP is supporting the growth of the pharma sector as the State government is lending a helping hand to all those wishing to expand in the pharma sector. In light of this, the State Government has announced incentives in favour, which includes a subsidy on interest of up to Rs 50 lakhs for a period not extending 7 Years for loans on purchase of land in Pharma parks and Rs 50 crore subsidy on interest on loan for building construction in pharma parks and tax rebate on stamp duty and electricity bills. (Source:pharmabiz.com)

In addition to this, “The healthcare infrastructure in Bihar is most likely to get a boost with a 135% hike in allocation for the health sector “ (Source: Times of India). A part of this share is expected to be invested in pharmaceutical industries which will in turn open opportunities for employment to all those related to the healthcare domain be it doctors, nursing staff, pathologists, and pharmacists.

This boost is considered to be the biggest budget of all time for the health care sector. It comes as a blessing for people residing in rural and isolated districts in Bihar as they need not travel far and can access the State Capital or the nearest medical College for special treatment. This initiative will bring pharma services more accessible for people as they can now get free services at their convenience and need not spend millions in private clinics.

This budget is described as the most needed initiative by the former principal and superintendent of the PMCH and president of the state branch of the Indian Medical Association (IMA), Dr. Amar Kant Jha, as he thinks this will bring the healthcare facilities to people's doors. He further added that this provision will bring more specialised diagnostic centers in all districts for providing free services.

A strike of balance should be maintained between all the departments that deal with health be it education, drinking water, or sanitation as these indicators reflect our functional health system.

The Bihar Pharma policy introduced in 2021 is the first state to introduce an ethanol-related policy, where the government has passed 10 units of land from the 320 acres of land of the Bihar Industrial Development Authority to set up ethanol plants in the state.

Though Covid 19 came as a huge hindrance and challenge for the whole country, Bihar included but still Bihar has been successful in attracting 450 investment proposals amounting to Rs 33,973 crore which is expected to raise large-scale employment generation through industrialisation.

From the statistics, it is highly commendable that a vast amount of funding and financial help is provided to the health care sector and therefore a lot of accounting is needed. Proper monitoring could help in getting the desired results in the healthcare sector and help Bihar emerge as a new pharma hotspot.

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