hyderabadbengaluru though disappointed at not finding even a mention in finance minister arun jaitleys nearly twohourlong budget speech the biotech sector is hopeful of a trickledown effect of the governments thrust on healthcare with the universal health insurance for the countrys masses as well as measures like pmrf and reduction in corporate tax for msmesthough there is nothing specific for the sector i think the universal health insurance was the highlight it is an amazing budgetary announcement that intends to cover half of the population said biocon ltd cmd kiran mazumdar shawanother thing lifting the spirits of this niche sector is the decision to slash corporate tax to 25 for companies with turnover of up to rs 250 crore with nearly 98 of biotech companies falling in the subrs 250 crore revenue bracket the tax reduction will definitely bring significant benefits leaving them with more money to plough back into business and rd said pm murali president association of biotech led enterprises ablebharat biotech international ltd vicepresident finance t srinivas while ruing the lack of incentive for innovation through a hike in weighted deduction on rd expenditure from 150 to 200 which was a key demand of the rd intensive sector said the emphasis on preventive healthcare can prove beneficial for vaccine makers