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Consider the following statements regarding the Revamped Pharmaceuticals Technology Upgradation Assistance (RPTUAS) Scheme:
1. It aims to support the upgradation of pharmaceutical industries to the WHO-Good Manufacturing Practice standards.
2. Under this scheme, subsidies are provided based on the annual profit of the company.
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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Most Upvoted Answer
Consider the following statements regarding the Revamped Pharmaceutica...
The Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers has announced the Revamped Pharmaceuticals Technology Upgradation Assistance (RPTUAS) Scheme.
- The objective is to offer "subsidies based on quality" reimbursement, aiding pharmaceutical companies in achieving revised Schedule M and WHO-GMP certifications.
- The revised guideline aims to support the pharmaceutical industry's up-gradation to the Revised Schedule-M & WHO-GMP standards, enhancing the quality and safety of pharmaceutical products manufactured in our country.
- Key Features of the Revised Scheme:
- Broadened Eligibility Criteria: Reflecting a more inclusive approach, eligibility for the PTUAS has been expanded beyond Micro, Small and Medium Enterprises to include any pharmaceutical manufacturing unit with a turnover of less than 500 crores that requires technology and quality upgradation. Preference remains for MSMEs, supporting smaller players in achieving high-quality manufacturing standards.
- Flexible Financing Options: The scheme introduces more flexible financing options, emphasizing subsidies on reimbursement basis, over traditional credit-linked approach.
- Comprehensive Support for Compliance with New Standards: In alignment with revised Schedule-M and WHO-Good Manufacturing Practice (GMP) standards, the scheme now supports a broader range of technological upgrades. Eligible activities include improvements such as HVAC systems, water and steam utilities, testing laboratories etc.
- State Government Scheme Integration: The revised scheme allows integration with state government schemes, enabling units to benefit from additional top-up assistance. This collaborative approach aims to maximize support for the pharmaceutical industry in their technology upgradation efforts.
- The new benefit limit is based on turnover of the company. Units with less than Rs 5 crore turnover will get an incentive of 20 percent of investment under eligible activities.
- The units with turnover ranging from Rs 50 crore to less than Rs 250 crore will get an incentive of 15 percent of investment, while for those with turnover ranging from Rs 250 crore to less than Rs 500 crore, it will be 10 percent of investment under eligible expenses.
Hence only statement 1 is correct.
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Consider the following statements regarding the Revamped Pharmaceutica...
Explanation:
Revamped Pharmaceuticals Technology Upgradation Assistance (RPTUAS) Scheme:
- The RPTUAS scheme aims to support the upgradation of pharmaceutical industries to the WHO-Good Manufacturing Practice standards.
- This scheme helps pharmaceutical companies improve their manufacturing processes and quality standards to meet international benchmarks.
Correct Statement:
- Statement 1 is correct as it accurately describes the primary objective of the RPTUAS scheme.
- The scheme focuses on enhancing the infrastructure and processes of pharmaceutical companies to ensure compliance with WHO-Good Manufacturing Practice standards.
Incorrect Statement:
- Statement 2 is incorrect as subsidies under the RPTUAS scheme are not provided based on the annual profit of the company.
- Instead, the assistance is provided to support the technological upgradation and modernization of pharmaceutical manufacturing units.
Therefore, the correct answer is option 'A' - 1 only.
Revamped Pharmaceuticals Technology Upgradation Assistance (RPTUAS) Scheme:
- The RPTUAS scheme aims to support the upgradation of pharmaceutical industries to the WHO-Good Manufacturing Practice standards.
- This scheme helps pharmaceutical companies improve their manufacturing processes and quality standards to meet international benchmarks.
Correct Statement:
- Statement 1 is correct as it accurately describes the primary objective of the RPTUAS scheme.
- The scheme focuses on enhancing the infrastructure and processes of pharmaceutical companies to ensure compliance with WHO-Good Manufacturing Practice standards.
Incorrect Statement:
- Statement 2 is incorrect as subsidies under the RPTUAS scheme are not provided based on the annual profit of the company.
- Instead, the assistance is provided to support the technological upgradation and modernization of pharmaceutical manufacturing units.
Therefore, the correct answer is option 'A' - 1 only.
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Consider the following statements regarding the Revamped Pharmaceuticals Technology Upgradation Assistance (RPTUAS) Scheme:1. It aims to support the upgradation of pharmaceutical industries to the WHO-Good Manufacturing Practice standards.2. Under this scheme, subsidies are provided based on the annual profit of the company.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 'A'. Can you explain this answer?
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