13.03.2024
Revamped Pharmaceuticals Technology Upgradation Assistance Scheme
For Prelims:About Revamped Pharmaceuticals Technology Upgradation Assistance Scheme,Key Features of the Revised Scheme,Pharmaceuticals Technology Upgradation Assistance Scheme |
Why in the news?
The Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers has announced the Revamped Pharmaceuticals Technology Upgradation Assistance (RPTUAS) Scheme.
About Revamped Pharmaceuticals Technology Upgradation Assistance Scheme:
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 approaches.
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.
What is the Pharmaceuticals Technology Upgradation Assistance Scheme?
Source: PIB