Budget expectations 2019: Healthcare sector wants affordable prices, policies that encourage world-class manufacturing in India

Budget expectations 2019: In recent years, several steps have been taken by the Modi government to provide healthcare for all. Following the landmark provisions made in the previous year's budget through the launch of Ayushman Bharat, experts are optimistic that the upcoming budget will build on it and take it forward. Umang Vohra, MD & Global CEO, Cipla told Zee Business Online, ''With growing focus on 'Make in India' and 'Pharma Vision 2020, we are optimistic that the upcoming budget will build on it and take it forward. With a growing focus on 'Make in India' and 'Pharma Vision 2020’, we also look forward to a budget that fosters a favorable climate for research and development through incentives."

Around 5.8 million people, every year in the country, meet heart and lung diseases, stroke, cancer, and diabetes. Non-communicable Diseases (NCDs) like diabetes, heart diseases, and respiratory diseases are likely to comprise over 75 per cent of the country's disease pressure by the year 2025.

The government should increase the tax exemption on preventive health check-up from the current Rs. 5,000 per person to Rs. 20,000 under section 80-D of Income Tax Act 1961.

''Ensuring quality, regulatory frameworks, and compliance, accessible healthcare at affordable prices, policies that encourage world-class manufacturing in India have rightly been areas of focus and debate. For pharma, challenges such as pricing and controls by the Government remain contentious points,'' added Vohra. 

Health surveys all over the country have discovered that India lacks a number of doctors, and state-run hospitals are close to breaking points. Patients have to face long delays for even small treatments, and a consultation by a private doctor costs Rs. 1,000 rupees on an average, which is a huge amount for millions surviving on earnings below Rs. 80 a day.

''The pharma industry is keen to work closely with the government to overcome various challenges. We acknowledge that the pharmaceutical sector of India has a joint responsibility to improve the healthcare scenario of the country, to drive economic growth and to showcase India as the preferred pharmaceutical partner to the world,'' mentioned Vohra.

Watch this Zee Business TV video:

He added that the industry has expectations from the Government in terms of policy, governance, regulations, support in reducing dependence on China for APIs, and higher expenditure on healthcare as a percentage of GDP. 

It will be really interesting to watch out Modi government's proposed plans to drive the drowning pharmaceutical sector upside, as the experts are confident that the budget will be judicious in its outlook, and in line with the country's long term healthcare vision.