Bulk drug parks approved

  • IASbaba
  • March 23, 2020
  • 0
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Bulk drug parks approved

Part of: GS Prelims and GS-II Welfare Schemes; Health

In News: 

  • The Union Cabinet has approved a scheme for promotion of bulk drug parks with a financial assistance of Rs. 3,000 crore for the next five years.

Key takeaways:

  • Union Cabinet has also approved a Production Linked Incentive (PLI) Scheme for promotion of domestic manufacturing of critical drug intermediates and active pharmaceutical ingredient (API) with a financial assistance of Rs. 6,940 crore for the next eight years.
  • Government will give grants-in-aid to States with a maximum limit of Rs. 1,000 crore per bulk drug park.
  • The park will have common facilities such as solvent recovery plant, distillation plant, power and steam units, common effluent treatment plant etc.

Do you know?

  • The bulk drugs parks scheme is expected to reduce the manufacturing cost of bulk drugs in the country. 
  • It will also bring down the dependency on other countries for such drugs.
  • The Production Linked Incentive Scheme will lead to expected incremental sales of Rs. 46,400 crore.
  • It will also lead to significant additional employment generation.

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