Express Pharma

Pharma Budget 2020

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Budget 2020 ensures health and education for all

Nitin Maniar, Chairman, Governing Body, Bombay College of Pharmacy

Health and education are the two social pillars that showcase the prosperity of a nation. An outlay of Rs 1 lakh crore and Rs 69,000 crore on education and healthcare respectively will surely and significantly improve the education and healthcare standards of the nation.

The Bharat Net’s Rs 6,000-crore boost for Internet connectivity and Rs 8,000 crore allocation for setting up National Mission for Quantum Computing and Technology over the next five years will ensure Internet and digital technology penetrate the farthest corners of the country. This should significantly ensure penetration of information technology across educational institutions of the country.

The Budget has slashed the IT rates, which should help in increasing consumption. Overall, the budget is focussed on increasing agriculture and rural income and building infrastructure development, and truly echoes the slogan ‘Sabka Saath, Sabka Vikas.’ 

Abolition of dividend tax abolished will reduce the burden on companies

Mahendra Patel, Managing Director,  Lincoln Pharmaceuticals

The focus has been given on improving health infrastructure in the country and to ensure that quality medicines at an affordable price are made available to the masses. Abolition of dividend tax abolished will reduce the burden on companies. Rs 1,000-crore allocation for technology upgradations, R&D, business strategy will provide encouragement to mid-size pharma companies in increasing exports. Generic medicines will get a boost as Pradhan Mantri Jan Aushadhi stores will expand to every district. This would be positive for both SME pharma manufacturing units as well as small domestic medical devices makers who supply to the scheme.  With the government’s initiative, not only can the industry support the government in providing affordable and efficacious medicines it will also help to mark its presence in the global markets.

There should have been a greater impetus to strengthen the R&D backbone of Indian companies

Strategic allocations have been made in this Budget for agriculture, education, health, water, sanitation and skill development. Allocations in support of the Ayushman Bharat are encouraging and help the country inch closer the ambitious

Pushpa Vijayaraghavan, Director and Siddharth Surana, Manager Tax & Regulatory, Sathguru Management Consultants

goal of universal healthcare. While we are appreciative of the focus on healthcare capacity creation, we would have loved to see a greater impetus to strengthen the R&D backbone of Indian companies. This is critical for creating sustainable competitiveness in the Indian industry in areas like medical devices where we are trying to reduce import dependence. Triggering intensive innovation engagement would have ideally complemented the medical device cess introduced.

Sangita Reddy, President, FICCI

The Finance Minister has emphasised many futuristic areas

The Finance Minister has emphasised on many futuristic areas. Recognising the new economic trends, the budget outlined plans for harnessing the potential and opportunities offered by artificial intelligence, Internet-of-Things (IoT), 3D printing, drones, DNA data storage, quantum computing, etc.

 

Health and wellness have received due attention in the budget

Sushant Raorane, Co-Founder-Director, Adroit Biomed

A holistic effort by the government to facilitate ease of living and ease of doing business, the 2020 budget comes as a hope for the stagnant economy. With an allocation of Rs 69,000 crore for the healthcare sector and Rs 35,600 crore for nutrition-related programmes, health and wellness have received due attention in the budget. Apart from the healthcare, promoting entrepreneurship and facilitating easy tax structures for business, strengthening the infrastructure and cold chain logistics as well as focus on skill development, are areas that will hugely benefit the nutraceutical sector in India. As entrepreneurs in the nutraceuticals space, a promising sector with huge growth potential, I see tax policies like reduction in corporate tax for companies to 22 per cent, removal of DDT and simplified return for GST being introduced from April 2020, as impactful initiatives that will help drive business.

 

Allocation for nutritional-related plans will go a long way in improving the nutritional quotient of its citizens

Dr Muhammed Majeed, Founder & Chairman, Sami-Sabinsa Group

We laud the gesture of the Government of India to allocate Rs 69,000 crore for the health sector in FY 2021. Additionally, the allocation of Rs 35,600 crore for nutritional-related plans will go a long way in improving the nutritional quotient of its citizens. We welcome the government’s plan to establish two National Science Schemes for production of medicines, while also urging the government to harness the power of natural ingredients and herbs in the production of medicines, thereby making the medicines free of chemicals. The need of the hour is to improve the nutritional quotient of people by providing herbal-based health solutions, particularly in areas where modern medicine is not of much help.

 

Focus on child nutrition, adolescent girls, pregnant women and lactating mothers will help in improving health levels

Dr Sunil Singh, CHRO, Cadila Pharmaceuticals

The finance minister (FM) has reiterated the government’s commitment to the health sector by providing Rs 69,000 crore for the healthcare sector. She has identified Access to Health for all sections of the society as a key part of Aspirational India, one of the three prominent themes around which the budget was woven. The FM has announced the expansion of Pradhan Mantri Jan Aroyga Yojana by creating an infrastructure for health services by facilitating the setting up of hospitals in aspirational districts. She has also proposed expansion of Jan Aushadhi Kendra schemes to all districts, which will allow citizens access to drugs to affordable prices. The focus on child nutrition, adolescent girls, pregnant women and lactating mothers will also help in improving health levels.

 

The positive outlook from the budget will see the growth of Ayushman Bharat

Yogesh Mudras, MD for Informa Markets in India

The Union Budget 2020 is focussed on accelerating and enhancing the public health facilities. The positive outlook from the budget will see the growth of Ayushman Bharat,  besides allocating Rs 6,400 cro