The Central government has sanctioned a sum of Rs 8.73 lakhs to seven Ayurvedic drug manufacturing units in Kerala as the subsidy component on loans for the financial year 2004-05, as part of the centrally sponsored scheme of grant in aid to Ayurveda, Siddha and Unani drug manufacturing units to improve their infrastructure to meet Schedule T requirements.
During March, this year, the Department of AYUSH had sanctioned a sum of Rs 8.15 lakh to nine Ayurvedic drug manufacturing units in the country as the subsidy component on loans for the financial year 2003-04, of which eight firms were from Kerala.
The units that got GMP grant as per a notification, No.Z.17016/61/2003 of the Department of Ayush dated 2nd November, 2004, include Kalan Arya Vaidya Sala of Nellayi, Thrissur for Rs.25, 000 on a loan amount of Rs 2.50 lakhs, Dhanwanthari Herbal Products of Thodupuzha - Rs 3 lakhs (Rs 64.19 loan), Sindhu Pharmacy, Varapuzha for Rs 25, 000 (Rs 2.50 lakhs loan), Sreedhareeyam Ayurveda Gaveshana Kendram, Nellikkathu Mana, Kizhakombu for Rs 2.79 lakhs on a loan amount of Rs 27.92 lakhs, Bodhi Pharmacy, Kalady for Rs.1.24 lakhs on a loan of Rs 12.43 lakhs, Tom & Co. Mookannur, Angamaly for Rs 60,000 on a loan of Rs 6 lakhs and Sree Narayana Vilasam Vaidyasala, Thiruvananthapuram for Rs 60,000 on a loan of Rs 5.96 lakhs.
As Pharmabiz reported earlier, grant in aid was sanctioned for Trinity Pharmaceuticals Pvt. Ltd, Thrissur, Aykkara Pharmaceuticals at Kallada near Kollam, CNS Chikitsalayam, Mezhathur, Sreeram Herbal Remedies (P) Ltd., Thrissur Rani Drug House, Nellayi, Sree Shankara, Changanassery, Padma Ayurveda Pharmacy, Mannar, and Aswagandha Pharmaceuticals, Pathanamthitta.
The Department of Indian System of Medicines & Homoeopathy (ISM&H) introduced this financial assistance scheme during the start of year 2003 for the standardization of manufacturing units in the segment of ISMs, considering their inability to mobilize enough funds for modernization. The subsidy constitutes 10 per cent of the sanctioned/utilized loan amount.