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Budget 2022: Pharma industry seeks ease of doing biz, enhanced funds for healthcare sector

Agencies | Updated on: Sunday, January 23, 2022, 03:23 PM IST

Organisation of Pharmaceutical Producers of India (OPPI) President S Sridhar stated that this year's Budget will be crucial to accelerate sectoral growth. | Representational Image
Organisation of Pharmaceutical Producers of India (OPPI) President S Sridhar stated that this year's Budget will be crucial to accelerate sectoral growth. | Representational Image
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The domestic pharmaceutical industry is expecting an increase in the overall fund allocation for the healthcare sector, focus on policies that encourage R&D activities and continuation of tax concessions on various drugs in the 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 Organisation of Pharmaceutical Producers of India (OPPI) President S Sridhar.

This year's Budget will be crucial to accelerate sectoral growth and access to innovative health solutions across various diseases and not COVID 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.

(With inputs from PTI)

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Published on: Sunday, January 23, 2022, 03:24 PM IST