New Delhi
Department of Pharmaceuticals on Monday announced a wider Revamped Pharmaceuticals Technology Upgradation Assistance Scheme in a significant step to help upgrade the technological capabilities of the country’s pharmaceutical industry and ensure its alignment with global standards. The new scheme covers all pharmaceutical manufacturing units with a turnover of less than Rs 500 crore.
POINTERS
Key Features Of The Revised Scheme Are:
- Broadened Eligibility Criteria: PTUAS eligibility expanded to pharmaceutical units under 500 crore turnover, with MSMEs still favored for support.
- Flexible Financing Options: The scheme offers reimbursement-based subsidies, promoting diverse financing options for participating units, encouraging wider adoption.
- Comprehensive Support for Compliance with New Standards: Aligned with updated standards, the scheme backs diverse technological enhancements.
- Dynamic Incentive Structure: Units categorized by turnover: under 50 crores – 20% incentive, 50 to 250 crores – 15%, 250 to 500 crores – 10%.
- State Government Scheme Integration: It integrates with state programs for added assistance, maximizing industry support in technology upgrades.
- Enhanced Verification Mechanism: It introduces a robust verification mechanism through a Project Management Agency, ensuring transparency, accountability and the efficient allocation of resources.
