Last Updated on January 6, 2024 by The Health Master
The domestic pharmaceutical industry is expecting an increase in the overall fund allocation for the healthcare sector, a focus on policies that encourage R&D activities, and the continuation of tax concessions on various drugs in the Union Budget 2022.
Union Budget 2022
”An increase in the budgetary allocation from the current 1.8 per cent of the GDP to 2.5-3 per cent, as envisaged in the National Health Policy 2017, along with a separate allocation for the bio-pharmaceutical sector R & D, is imperative,” stated Organization of Pharmaceutical Producers of India (OPPI) President S Sridhar.
This year’s budget will be crucial to accelerating sectoral growth and accessing innovative health solutions across various diseases, not just C-19 alone, he added.
”Additional measures towards improving ease of doing business in the pharma sector with emphasis on simplification and making the process industry friendly, with specific provisions for eliminating bottlenecks will encourage investment,” stated Indian Pharmaceutical Alliance (IPA) Secretary General Sudarshan Jain
Healthcare industry body NATHEALTH stated that it is crucial to create and build infrastructural and linked integrated capabilities like telemedicine, home and senior care so that people can access quality and critical healthcare services equitably.
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