The Ministry of Chemicals and Fertilizers (MoCF) on May 19, 2023, issued an amendment in the Operational Guidelines for the Scheme for Promotion of Medical Device Parks with respect to the utilization of the previous installment to claim the subsequent installment.
The Ministries/Departments shall release the funds as far as possible in ‘Just-In-Time’ manner keeping the float in CNAs account to the minimum possible and shall in no case release more than 25% of the amount earmarked for the scheme in a financial year at a time. Additional funds (not more than 25% at a time) will be released only upon utilization of at least 75% of the funds released earlier and in compliance with the conditions of the previous sanction.
The amendment provides revised percentages in which installments of funds shall be released.
