Interim Budget 2024: Rs 1,000-cr outlay for bulk drug parks
image for illustrative purpose
New Delhi: The government has earmarked Rs1,000 crore for the promotion of bulk drug parks for FY25, a multi-fold increase from Rs 85.15 crore outlay in the revised estimate for the ongoing fiscal. Initially, the government had earmarked Rs900 crore in the Budget for 2023-24. However, the revised estimate presented in the Parliament in the Interim Budget 2024-25 for ‘Promotion of Bulk Drug Parks’ was at Rs85.15 crore.
According to the Expenditure Budget document, the total outlay for the development of the pharmaceutical industry for FY25 has been pegged at Rs1,300 crore, up from Rs264.67 crore in the revised estimate of FY24. Similarly, the outlay for ‘promotion of medical device parks’ has been increased to Rs150 crore for FY25, up from Rs64 crore in the revised estimate for FY24. Further, the allocation for assistance to medical device clusters for common facilities (AMD-CF) has been raised to Rs40 crore for FY25 from Rs33 crore in the revised estimate for FY24.
