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With reference to the Production Linked Incentive (PLI) scheme, consider the following statements:
1. It aims at promotion of domestic manufacturing of critical key starting materials (KSMs)/drug intermediates and active pharmaceutical ingredients (APIs) in the country.
2. The scheme was launched by Department of Science and Technology.
1. It aims at promotion of domestic manufacturing of critical key starting materials (KSMs)/drug intermediates and active pharmaceutical ingredients (APIs) in the country.
2. The scheme was launched by Department of Science and Technology.
Which of the statements given above is/are correct?
- a)1 only
- b)2 only
- c)Both 1 and 2
- d)Neither 1 nor 2
Correct answer is option 'A'. Can you explain this answer?
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Verified Answer
With reference to the Production Linked Incentive (PLI) scheme, consid...
The Government has given approval to drug firms including Aurobindo Pharma and Karnataka Antibiotics & Pharmaceuticals under the PLI scheme for promotion of domestic manufacturing of critical bulk drugs.
- The Production Linked Incentive (PLI) scheme aims at promotion of domestic manufacturing of critical key starting materials (KSMs)/drug intermediates and active pharmaceutical ingredients (APIs) in the country.
- This will be achieved by setting up greenfield plants with minimum domestic value addition in four different target segments with a total outlay of Rs 6,940 crore for the period 2020-21 to 2029-30.
- The scheme was launched by Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers.
- The Target Segment-I includes 4 eligible products, viz., Penicillin G; 7-ACA; Erythromycin Thiocyanate (TIOC) & Clavulanic Acid, in which the country is presently fully import dependent. These were considered on priority as per the decided evaluation and selection criteria.
- The setting up of plants under the scheme will lead to total committed investment of Rs 3,761 crore by the companies and employment generation for around 3,825 people.
Most Upvoted Answer
With reference to the Production Linked Incentive (PLI) scheme, consid...
Understanding the PLI Scheme
The Production Linked Incentive (PLI) scheme is a significant initiative by the Indian government aimed at boosting domestic manufacturing, particularly in the pharmaceutical sector.
Statement Analysis
- Statement 1: Promotion of Domestic Manufacturing
- This statement is correct. The PLI scheme specifically focuses on enhancing the domestic production of critical key starting materials (KSMs), drug intermediates, and active pharmaceutical ingredients (APIs). By incentivizing manufacturers, the government aims to reduce dependency on imports and strengthen the local pharmaceutical industry, thereby ensuring better availability and affordability of essential medicines.
- Statement 2: Launching Authority
- This statement is incorrect. The PLI scheme for pharmaceuticals was not launched by the Department of Science and Technology. Instead, it was initiated by the Ministry of Chemicals and Fertilizers. This ministry oversees the pharmaceutical sector and is responsible for the implementation of policies aimed at promoting growth and innovation in this field.
Conclusion
Given the analysis above:
- Correct Answer: A (1 only)
- Since only the first statement about the promotion of domestic manufacturing is accurate, the answer is option 'A'. The second statement regarding the launching authority is incorrect, confirming that only the first statement holds true.
The Production Linked Incentive (PLI) scheme is a significant initiative by the Indian government aimed at boosting domestic manufacturing, particularly in the pharmaceutical sector.
Statement Analysis
- Statement 1: Promotion of Domestic Manufacturing
- This statement is correct. The PLI scheme specifically focuses on enhancing the domestic production of critical key starting materials (KSMs), drug intermediates, and active pharmaceutical ingredients (APIs). By incentivizing manufacturers, the government aims to reduce dependency on imports and strengthen the local pharmaceutical industry, thereby ensuring better availability and affordability of essential medicines.
- Statement 2: Launching Authority
- This statement is incorrect. The PLI scheme for pharmaceuticals was not launched by the Department of Science and Technology. Instead, it was initiated by the Ministry of Chemicals and Fertilizers. This ministry oversees the pharmaceutical sector and is responsible for the implementation of policies aimed at promoting growth and innovation in this field.
Conclusion
Given the analysis above:
- Correct Answer: A (1 only)
- Since only the first statement about the promotion of domestic manufacturing is accurate, the answer is option 'A'. The second statement regarding the launching authority is incorrect, confirming that only the first statement holds true.
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With reference to the Production Linked Incentive (PLI) scheme, consider the following statements:1. It aims at promotion of domestic manufacturing of critical key starting materials (KSMs)/drug intermediates and active pharmaceutical ingredients (APIs) in the country.2. The scheme was launched by Department of Science and Technology.Which of the statements given above is/are correct? a)1 only b)2 only c)Both 1 and 2 d)Neither 1 nor 2Correct answer is option 'A'. Can you explain this answer?
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With reference to the Production Linked Incentive (PLI) scheme, consider the following statements:1. It aims at promotion of domestic manufacturing of critical key starting materials (KSMs)/drug intermediates and active pharmaceutical ingredients (APIs) in the country.2. The scheme was launched by Department of Science and Technology.Which of the statements given above is/are correct? a)1 only b)2 only c)Both 1 and 2 d)Neither 1 nor 2Correct answer is option 'A'. Can you explain this answer? for Current Affairs 2024 is part of Current Affairs preparation. The Question and answers have been prepared according to the Current Affairs exam syllabus. Information about With reference to the Production Linked Incentive (PLI) scheme, consider the following statements:1. It aims at promotion of domestic manufacturing of critical key starting materials (KSMs)/drug intermediates and active pharmaceutical ingredients (APIs) in the country.2. The scheme was launched by Department of Science and Technology.Which of the statements given above is/are correct? a)1 only b)2 only c)Both 1 and 2 d)Neither 1 nor 2Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for Current Affairs 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to the Production Linked Incentive (PLI) scheme, consider the following statements:1. It aims at promotion of domestic manufacturing of critical key starting materials (KSMs)/drug intermediates and active pharmaceutical ingredients (APIs) in the country.2. The scheme was launched by Department of Science and Technology.Which of the statements given above is/are correct? a)1 only b)2 only c)Both 1 and 2 d)Neither 1 nor 2Correct answer is option 'A'. Can you explain this answer?.
With reference to the Production Linked Incentive (PLI) scheme, consider the following statements:1. It aims at promotion of domestic manufacturing of critical key starting materials (KSMs)/drug intermediates and active pharmaceutical ingredients (APIs) in the country.2. The scheme was launched by Department of Science and Technology.Which of the statements given above is/are correct? a)1 only b)2 only c)Both 1 and 2 d)Neither 1 nor 2Correct answer is option 'A'. Can you explain this answer? for Current Affairs 2024 is part of Current Affairs preparation. The Question and answers have been prepared according to the Current Affairs exam syllabus. Information about With reference to the Production Linked Incentive (PLI) scheme, consider the following statements:1. It aims at promotion of domestic manufacturing of critical key starting materials (KSMs)/drug intermediates and active pharmaceutical ingredients (APIs) in the country.2. The scheme was launched by Department of Science and Technology.Which of the statements given above is/are correct? a)1 only b)2 only c)Both 1 and 2 d)Neither 1 nor 2Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for Current Affairs 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to the Production Linked Incentive (PLI) scheme, consider the following statements:1. It aims at promotion of domestic manufacturing of critical key starting materials (KSMs)/drug intermediates and active pharmaceutical ingredients (APIs) in the country.2. The scheme was launched by Department of Science and Technology.Which of the statements given above is/are correct? a)1 only b)2 only c)Both 1 and 2 d)Neither 1 nor 2Correct answer is option 'A'. Can you explain this answer?.
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