Bulk drug parks approved
Part of: GS Prelims and GS-II Welfare Schemes; Health
- 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.
- 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.