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With reference to the Production Linked Incentive Scheme of Pharmaceuticals, consider the following statements:
1. It is an initiative of Union Ministry of Health and Family Welfare.
2. The approved outlay of the scheme is Rs 15000 crore.
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 'B'. Can you explain this answer?
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Most Upvoted Answer
With reference to the Production Linked Incentive Scheme of Pharmaceut...
Government of India issued Operational guidelines for Production Linked Incentive Scheme of Pharmaceuticals. The scheme is now open to applications from the industry.
- With an aim to enhance India’s manufacturing capabilities by increasing investment and production in the sector and to contribute to product diversification to high value goods in the pharmaceutical sector, Department of Pharmaceuticals notified the 'Production Linked Incentive (PLI) Scheme for Pharmaceuticals' 3rd March, 2021.
- The approved outlay of the scheme is Rs 15000 crore.
- The applications are invited in three groups based on the Global Manufacturing Revenue of FY 2019-20 of the applicants. A special carve out for MSMEs has been kept under the scheme.
- All the applications will be submitted through an online portal maintained by SIDBI, the Project Management Agency for the scheme.
- The eligible products have been categorized into three categories. The products covered under the scheme are formulations, biopharmaceuticals, active pharmaceutical ingredients, key starting material, drug intermediates, in-vitro diagnostic medical devices, etc.
- The category-1 and category-2 products attract 10% incentive and category-3 products attract 5% incentive on the incremental sales. Incremental sales of a product mean sales of that product in a year over and above the sales of that product in FY 2019-2020.
Hence only statement 2 is correct.
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With reference to the Production Linked Incentive Scheme of Pharmaceuticals, consider the following statements:1. It is an initiative of Union Ministry of Health and Family Welfare.2. The approved outlay of the scheme is Rs 15000 crore.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer?
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