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Incentive scheme to attract private investment in medical education

In a major step towards attracting private investment in the medical education sector across Uttar Pradesh,the state

June 18, 2013 4:31:10 am

In a major step towards attracting private investment in the medical education sector across Uttar Pradesh,the state cabinet on Monday approved a special “incentive scheme”.

Under the scheme,private players who invest in setting up medical colleges in three divisions of the state — Devipatan,Basti and Mirzapur — will get capital subsidy up to Rs 20 crore. There are no medical colleges in these three divisions of eastern UP at present.

“We have decided to give capital subsidy to private medical colleges which would be established in regions where there is no such facility at present. There are other incentives for private players as well,but it has been decided that all these facilities would be given to only those colleges which would fulfil the norms of the Medical Council of India,” Chief Minister Akhilesh Yadav told mediapersons.

Under the scheme,medical colleges with minimum 100 seats capacity being established in “unserved divisions” would be given Rs 10 crore subsidy after completing the first batch of admissions. Another Rs 10 crore would be given to the college after they complete admissions for the second batch.

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Incentives for such private players would include exemption in stamp duty,development as well as inspection fee. However,the exemption would be given only on minimum required land as per Medical Council of India.

The government will also pay 5 per cent of the interest on the loan taken to establish the institute,for five years after enrolment of the first batch of students. It would also construct up to 3 km of link road to connect these colleges with the neighbouring state highway or other district roads. The government has also promised uninterrupted power supply to these medical colleges by giving them “dedicated independent feeder” of 33/11 KV.

Other cabinet decisions

* Taj International Airport to come up on 1,200 acres in Kurikupa village of Tundla Tehsil in Firozabad district. The proposal,which was long pending for need of a location,will be moved to different departments for clearance now

* Free medical treatment of chronic ailments like cancer,heart,liver and kidney diseases for patients living below poverty line or farmers having below 3.25 acres land holding or having annual income below Rs 35,000

* Beautification of main roads leading to Taj Mahal

* Crop loans to farmers at low interest rate through primary agricultural credit cooperative societies

* Infrastructure development for thermal power plant in Lalitpur

* Reversal of December 21,2011 order,in which it was decided that to repay the loans of National Cooperative Development Corporation (NCDC),New Delhi cold storages,which have been closed down,would be sold

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