Biotechnology, with its knowledge-intensive nature and tremendous economic potential, has emerged as one of the rapidly-growing sectors of the Indian knowledge economy today. Focusing on the practical use of biological systems to produce goods and services, biotechnology has made significant achievements in the growth and its application in the areas of agriculture, healthcare, environment, etc through R & D projects and infrastructure creation. Biotechnology seemed to have improved the conditions of Living but the way information has been communicated and the way decisions are made; affect perception and public support or opposition to a new technology. Biotechnology is not a system of farming; It reflects no specific philosophy nor is it guided by a set of principles or performance criteria. It is a bag of tools than can be used for good or evil, and lots in between. Hence, the debate over the value of biotechnology in the society is polarized and impassioned. This paper clearly evaluates the rewards of this field into the society and its disfavours from the public.