In addition, forward guidance also states that the Governing Council “stands ready to increase our asset purchase programme in terms of size and/or duration". This is the expansionary bias with respect to asset purchases. Mario Draghi emphasised at this year’s ECB watchers conference that the Eurosystem’s monetary policy currently consists of three main elements: the key interest rates, asset purchases and forward guidance.
The Government has also approved an investment package for promotion of bulk drug parks and a production-linked incentive scheme is in place to enhance domestic production of drug intermediates and active pharmaceutical ingredients.