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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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