https://biospectrumindia.com/rssfeed/special/union%20budget%202023-24 union budget 2023-24 https://biospectrumindia.com/views/99/22625/emphasis-on-promoting-pharma-research-will-boost-private-biz-heaps-health.html https://biospectrumindia.com/views/99/22625/emphasis-on-promoting-pharma-research-will-boost-private-biz-heaps-health.html Fri, 10 Feb 2023 00:00:00 +0530 "Focusing on technology and a knowledge-driven economy for FY 23–24 was one of the Union Budget's significant pronouncements. According to the budget, Centres of Excellence for Artificial Intelligence will be established to offer cutting-edge applications and scalable solutions to health-related issues. The main goal of these centres is to further understand and raise public awareness of these new-age technologies. These centres are expected to produce solutions that bring high-quality healthcare facilities to both urban and rural populations. The National Data Governance Policy's announcement is the right move to improve data security and privacy in healthcare. Last but not least, the emphasis on promoting pharmaceutical research and innovation by raising capital spending will boost private businesses and contribute to the creation of long-term treatments for serious diseases." ]]> https://biospectrumindia.com/views/99/22616/gst-rationalisation-in-healthcare-should-have-been-addressed-ujala-cygnus-group.html https://biospectrumindia.com/views/99/22616/gst-rationalisation-in-healthcare-should-have-been-addressed-ujala-cygnus-group.html Thu, 09 Feb 2023 00:00:00 +0530 "The Finance Minister's proposal regarding establishing 157 new nursing colleges is a welcome move. As we know, several new hospitals are opening every year, but there is a dearth of skilled healthcare workers. So, this move will help to fill this gap, especially in Tier 2 and Tier 3 cities. The government has also proposed a multidisciplinary course for medical devices for skilled manpower. Also, we should take pride in the fact that 220 crore Covid vaccines were given to 102 crore people. It highlights our strong healthcare strategy to tackle a health crisis of such magnitude in such an overpopulated country. As per the budget speech, a new programme for research in pharmaceuticals will be formulated and the industry will be encouraged to invest in research. We should invest in research at a grand level now and support from the Government in this direction is a welcome move. It is also great to know that leading industry players will partner in conducting interdisciplinary research, and develop cutting-edge applications and scalable problem solutions in the areas of agriculture, health, and sustainable cities. However, a few other areas like GST rationalization in healthcare, gap funding on infrastructure in building hospitals in Tier 2 cities, and rural India in terms of capital contribution and subsidy, should have been addressed as well in the budget." ]]> https://biospectrumindia.com/views/99/22604/budget-fails-to-address-growing-trend-of-medical-crowdfunding-ketto-org.html https://biospectrumindia.com/views/99/22604/budget-fails-to-address-growing-trend-of-medical-crowdfunding-ketto-org.html Sat, 04 Feb 2023 00:00:00 +0530 "The Indian government's Union Budget 2023, presented by Finance Minister Nirmala Sitharaman, has made significant allocations for the healthcare sector in India. Despite this, the budget has not addressed the growing trend of medical crowdfunding in the country. Medical crowdfunding, where individuals seek monetary assistance from the public to cover the costs of medical treatments, has become a common phenomenon in India. The lack of proper healthcare facilities and the high costs of medical treatments have driven many individuals to turn to medical crowdfunding." ]]> https://biospectrumindia.com/views/99/22584/awaiting-clarity-on-more-funding-to-promote-pharma-rd-kotak-securities.html https://biospectrumindia.com/views/99/22584/awaiting-clarity-on-more-funding-to-promote-pharma-rd-kotak-securities.html Fri, 03 Feb 2023 00:00:00 +0530 "Allocation for development of pharma industry has been increased from Rs 100 crore in FY23E to Rs 1250 crore in FY24E. Impact of this will be that there will be new programmes to promote pharma R&D through centres of excellence. However, we would await clarity on where exactly these additional funds are going to be used." ]]> https://biospectrumindia.com/views/99/22589/financial-incentives-to-encourage-production-of-high-end-medical-devices-not-addressed-healthwatch.html https://biospectrumindia.com/views/99/22589/financial-incentives-to-encourage-production-of-high-end-medical-devices-not-addressed-healthwatch.html Fri, 03 Feb 2023 00:00:00 +0530 "With the Union Budget encouraging further investment in R&D and supporting dedicated multidisciplinary courses for medical devices in existing institutions to ensure availability of skilled manpower for future futuristic medical technologies, high-end manufacturing and research, we are looking forward to the medical devices and diagnostics industry getting further boost. The health-tech industry has already witnessed rapid growth over the last 5 years, estimated to grow to $50 bn by 2033. While the government had announced that it will be offering financial incentives to encourage the production of high-end medical devices, this has still not been addressed and no measures taken to help end the 80-85% import dependence forced upon India as well as the ever increasing import bill of around Rs 50,000 crore. Supporting policies are required to allow the medical devices industry to make quality healthcare accessible and affordable for the masses and catapult our country into becoming one of the top medical devices manufacturing hubs globally. A gradual phasing out of GST which was definitely the need of the hour was also unfortunately not addressed."  ]]> https://biospectrumindia.com/views/99/22597/provision-for-para-medical-workers-should-also-be-considered-srl-diagnostics.html https://biospectrumindia.com/views/99/22597/provision-for-para-medical-workers-should-also-be-considered-srl-diagnostics.html Fri, 03 Feb 2023 00:00:00 +0530   "It is a relief to see the government's intent to screen and eliminate a condition like sickle cell anemia. We hope that just like the 'Anemia Mukt Bharat' initiative, this programme also gets the required impetus from the central government.    Along with establishment of nursing colleges, a provision for para medical workers and ancillary workers should also be considered.  The focus on collaboration with private sector on R&D and innovations is a great move and hope it marks a new beginning for healthcare and pharma innovations in India.   It would have been great if the union budget also focused on funding to strengthen India's health infrastructure system and R&D capacity." ]]> https://biospectrumindia.com/news/99/22573/did-union-budget-2023-24-miss-emphasising-on-healthcare-its-digitisation-industry-expresses-mixed-views.html https://biospectrumindia.com/news/99/22573/did-union-budget-2023-24-miss-emphasising-on-healthcare-its-digitisation-industry-expresses-mixed-views.html Thu, 02 Feb 2023 00:00:00 +0530 The Union Budget for 2023-24 was presented by the Finance Minister Nirmala Sitharaman on 1st February 2023, right after which a surge of responses and views have been flowing in from the industry experts. While some are praising the key announcements made for the pharma, medical devices and healthcare sectors in the Budget, others seem disappointed. "More support and allocation of resources for health-tech startups to become effective would have been appreciated, as well as integration of digital solutions by such startups within the public health system would help them take their products and services further and reduce the burden on the system. In last year’s Budget, the government proposed providing up to Rs 2,000 crore as venture capital to create an ecosystem for health-tech startups to help them access capital and develop innovative products and services but we haven’t seen concrete steps followed in the deployment”, said Gautam Chopra, Founder, and CEO, BeatO. According to Dr Azad Moopen, Founder Chairman and MD, Aster DM Healthcare, "The overall impetus for the healthcare delivery sector is missing. We were hoping for an increase in budget allocation for the industry which is essential to fulfil the need gaps. The need to have more hospitals and healthcare facilities in rural and suburban areas to meet the rising demand remains untouched. Hope the government would put more focus on public- private partnerships (PPP) to address this." Another disappointed view comes from Vishal Bali, Executive Chairman, Asia Healthcare Holdings: "A mere 2.71% increase on the healthcare expenditure side is disappointing given the overall need to transform healthcare in the country. The budget also does not provide any impetus towards the “Make in India” initiative of medical technology which is a critical need to accelerate self-reliance in a highly import-driven sector." “With increased allocation, the importance of healthcare in a post-pandemic world is reflected in the Union Budget 2023. However, the public health spend still needs to be ramped up if India wants to achieve its version of universal healthcare", said Dr Rana Mehta, Partner and Leader Healthcare, PwC India. "The Govt. should have also focused on substantial budgetary allocation for preventive and mental health, and metabolic diseases that continues to grapple the younger population, making quality healthcare further accessible in the rural areas to bring down the modern-day healthcare risk factors", stated Dr Naoya Matsumi, Deputy Managing Director, Sakra World Hospital.  Dr Sanjeev Singh, Medical Director, Amrita Hospital, Faridabad has more to add, "This budget does not talk about reduction and import duty and any provisions for building hospitals and healthcare facilities in Tier 2 / Tier 3 regions. It does not mention any inclusion or expansion of insurance sector. Hence it does not meet the requirement of universal health coverage to which the government is committed. We would have been happy if something could have been done for universal health coverage and reduction of healthcare cost. It would have helped patients who come to the hospital.” Expressing his concerns over the budget announcement, Dr BS AjaiKumar, Executive Chairman, Healthcare Global Enterprises said, "The impetus provided for public-private collaboration is welcome, both through the ICMR lab initiative as also through the Pharma centers of excellence. However, there is a pressing need to invest in tech-enabled systems using predictive genomics to strengthen India’s prevention, surveillance, and response capacities to pandemics and epidemics. I was also expecting a rationalization of tax and duty structures around life-saving drugs and emergency treatments, revision of GST slabs, and sops for healthcare equipment manufacturers. High time, India makes Health a top priority and extend all key subsidies and benefits to the sector to make healthcare accessible and affordable to one and all."  With more inputs and viewpoints still coming in from the industry captains, a tight focus on improving healthcare delivery in India continues particularly with the increasing burden of non-communicable diseases (NCDs) in the country. ]]> https://biospectrumindia.com/news/99/22559/new-pharma-research-programme-to-be-taken-up-union-budget-2023-24.html https://biospectrumindia.com/news/99/22559/new-pharma-research-programme-to-be-taken-up-union-budget-2023-24.html Wed, 01 Feb 2023 11:00:00 +0530 As per the Union Budget for 2023-24 presented by the Finance Minister Nirmala Sitharaman on 1st February 2023, a new programme for research in pharmaceuticals will be formulated and the industry will be encouraged to invest in research. For the medical devices sector, dedicated multidisciplinary courses for medical devices will be supported in existing institutions to ensure availability of skilled manpower for futuristic medical technologies, high end manufacturing and research. In case of healthcare, a mission has been announced to eliminate sickle cell anaemia by 2047 by screening around 700 crore people. Nirmala also said that 157 new nursing colleges will be established in core locations, in sync with the existing 157 medical colleges that have been established since 2014. The Indian Council For Medical Research (ICMR) Labs will be made available for research by the public and private medical college faculty and private sector R&D teams for encouraging collaborative research and innovation. Further, the government will be creating three Centres of Excellence (CoEs) to boost Artificial Intelligence (AI) in India. These centres will be established in top Indian institutions to ensure that ‘we make AI in India’ and ‘make AI work for India’. The FM said, “Leading industry players will partner in conducting inter-disciplinary research in the areas of agriculture, health and sustainable cities.” Additionally, 100 labs will be set up for developing 5G driven applications in healthcare and other sectors, to realise new range of opportunities, business models, and employment potential. Also, Pradhan Mantri Kaushal Vikas Yojana 4.0 is to be launched to skill lakhs of youth within the next three years covering new age courses for Industry 4.0 like coding, AI, robotics, mechatronics, IOT, 3D printing, drones, and soft skills.   Click here for industry reactions on the budget ]]> https://biospectrumindia.com/views/99/22560/focus-on-screening-sickle-cell-anaemia-is-a-step-in-the-right-direction-sigtuple.html https://biospectrumindia.com/views/99/22560/focus-on-screening-sickle-cell-anaemia-is-a-step-in-the-right-direction-sigtuple.html Wed, 01 Feb 2023 00:00:00 +0530 "The newly announced focus on screening and eradicating sickle cell anaemia in the country is a step in the right direction. Anaemias and other haematological disorders are endemic in tribal populations of the country. Use of advanced digital technologies can help vastly increase the scale of screening than what is possible today.""The proposed National Data Governance Policy, which provides access to anonymised data, will go a long way in supporting the stated mission of making artificial intelligence (AI) work in India."      ]]> https://biospectrumindia.com/views/99/22561/green-growth-from-the-booming-chemical-sector-needs-to-be-considered-quantumzyme.html https://biospectrumindia.com/views/99/22561/green-growth-from-the-booming-chemical-sector-needs-to-be-considered-quantumzyme.html Wed, 01 Feb 2023 00:00:00 +0530 “Several energizing initiatives in the budget will contribute to the expansion of the economy. The need for an extensive research and development policy has always been stressed by the pharmaceutical industry. We appreciate the government's consideration in announcing the launch of a new pharmaceutical research program to boost R&D, which will reenergize the sector and create investment prospects. Green Growth is currently focused on Hydrogen production. However, Green from sustainability and environment needs to be considered, more from the booming chemical sector'' ]]> https://biospectrumindia.com/views/99/22562/disheartened-with-no-impactful-announcements-for-encouraging-make-in-india-medical-devices-aimed.html https://biospectrumindia.com/views/99/22562/disheartened-with-no-impactful-announcements-for-encouraging-make-in-india-medical-devices-aimed.html Wed, 01 Feb 2023 00:00:00 +0530 "It is highly disheartening that against Industry’s expectations and assurance by the various Govt. Departments, the government has not announced any measures to help end the 80-85% import dependence forced upon India and an ever-increasing import bill of over Rs 63,200 crore.  It is very painful to see the plight of domestic industry players shutting shop as the local industry cannot compete with cheaper Chinese imports. Imports of Medical Devices from China went up by nearly 50% last year from Rs 9000 crore to Rs 15000 crore on account of low duties and convenience to import. These are the same domestic manufacturers, when imports got disrupted during COVID-19 crisis, the Govt. relied heavily on to meet the rising demand of essential Covid items for the country pushing the Indian medical devices sector to become self-reliant.  We had been hoping that this will be a Make in India push budget for an Atmanirbhar Bharat but we, The Indian Medical Device Industry are disheartened not to hear any impactful announcements for encouraging Make in India of Medical Devices in India.  The only positive announcement was plans for skilling of manpower for manufacturing of Medical Technologies." ]]> https://biospectrumindia.com/views/99/22563/medtech-telemedicine-digital-health-to-benefit-from-new-5g-labs-admi.html https://biospectrumindia.com/views/99/22563/medtech-telemedicine-digital-health-to-benefit-from-new-5g-labs-admi.html Wed, 01 Feb 2023 00:00:00 +0530 "ICMR Labs across the country will be made available to the corporate and manufacturing sector for the development of Medtech products. This will specially be beneficial for the Medtech startup ecosystem which is cash-strapped and may not have adequate resources to set up their own dedicated laboratory infrastructure Multi-dimensional Medical Devices segment courses will be introduced for the holistic development of all facets of the Medtech segment. This will create a pool of qualified talent resource for the MedTech segment which has been facing a dearth of qualified manpower. The Government has also announced the setting up of 100 labs for the development of 5G applications. The digital ecosystem is key for the delivery of the MedTech solutions, and MedTech – Telemedicine – Digital Health will majorly benefit from this move. The Finance Minister has announced the setting up of 3 Centres of Excellence for Artificial Intelligence in top educational institutions. This will drive the make in India initiative, and since the MedTech segment has AI as a potent growth component, we are hopeful of this driving a positive growth for the medical devices segment as well."   ]]> https://biospectrumindia.com/views/99/22564/long-standing-requirement-to-increase-healthcare-spending-not-addressed-nathealth.html https://biospectrumindia.com/views/99/22564/long-standing-requirement-to-increase-healthcare-spending-not-addressed-nathealth.html Wed, 01 Feb 2023 00:00:00 +0530 "It is encouraging to see the importance that the healthcare sector has got in this year's budget. Skilling of healthcare nurses and allied workers has been a long-standing gap, hindering healthcare delivery expansion, and the Union Govt. has taken a step in the right direction to address this. A significant increase in nursing and medical colleges, strong emphasis to promote innovation and R&D, PPP in healthcare and Medtech specialised workforce will lay a stronger roadmap for the future. However, the long-standing requirements of the sector to increase healthcare spending as GDP percent to 2.5 percent, custom duty reduction to balance demand with supply and the nascent healthcare manufacturing base in equipment scheme, streamlining embedded indirect taxes like GST in healthcare making a smooth flow of credit difficult across value chain and low-cost financing schemes to strengthen healthcare infrastructure, primary care and improved working capital has not been addressed." ]]> https://biospectrumindia.com/views/99/22565/quality-research-will-now-be-possible-rssdi.html https://biospectrumindia.com/views/99/22565/quality-research-will-now-be-possible-rssdi.html Wed, 01 Feb 2023 00:00:00 +0530 "Setting up various nursing colleges across the country is a much-needed move. This will help prepare the nation against an outbreak like Covid-19 so that we have adequately trained medical professionals. Sickle cell anemia is one of the genetic diseases that has been posing a major setback to the country’s health status, especially our tribal population. We appreciate the announcement of the mission to eliminate this disease by 2047. In addition, extending ICMR labs facilities for public and private medical colleges and private sector R&D teams for research purposes will lead to better research outcomes and give rise to innovative solutions. This will address the research gaps in noncommunicable diseases such as diabetes and cardiovascular disease. Quality research even in institutes that lack the necessary infrastructure and resources will now be possible. It is high time that we start promoting research at the level of the pharmaceutical industry because if we are able to produce newer molecules and innovative delivery systems for medications in-house that will not only help in improving the quality of care for our people in Indian setting but also make India an important hub for pharmaceuticals R&D to provide information and research outcomes." ]]> https://biospectrumindia.com/views/99/22566/a-great-boost-to-pharma-industry-in-terms-of-rd-kpmg.html https://biospectrumindia.com/views/99/22566/a-great-boost-to-pharma-industry-in-terms-of-rd-kpmg.html Wed, 01 Feb 2023 00:00:00 +0530 "The Budget has given a great boost to the pharma industry in terms of R&D. Introduction of this scheme through various centres of excellence (CoE) will also help attract industry players to invest in R&D. Dedicated multidisciplinary courses for medical devices in existing institutions will ensure availability of skilled manpower for futuristic medical technologies, high-end manufacturing and research. Overall this is a much needed force for the pharma sector." ]]> https://biospectrumindia.com/views/99/22567/a-welcome-step-for-severe-shortage-of-skilled-healthcare-manpower-in-india-icra.html https://biospectrumindia.com/views/99/22567/a-welcome-step-for-severe-shortage-of-skilled-healthcare-manpower-in-india-icra.html Wed, 01 Feb 2023 00:00:00 +0530 "The budgetary allocation of Rs. 891.6 billion for the healthcare sector for FY2024 translates to 12.6% YoY growth compared to the RE for FY2023. The roll-out of new programmes to promote R&D in the sector through centers of excellence and select ICMR lab facilities being made available for medical colleges and the private sector is a progressive step towards improving public-private partnerships and thus overall thrust on R&D. Further, setting up of new nursing colleges, and introduction of multi-disciplinary courses for medical devices is expected to increase the availability of skilled manpower in the healthcare and medical devices sectors. This is a welcome step given the severe shortage of skilled manpower in India as compared to the global average and other developing nations. Overall, the budget aims at increasing spending on the sector, improving universal health coverage, promoting R&D, and increasing skilled manpower, which is a positive. That said, continuing modest allocation towards the healthcare sector leaves India’s healthcare spend as a percentage of GDP well below the world average and other developing and developed nations." ]]> https://biospectrumindia.com/views/99/22568/pharma-rd-programme-to-provide-sustained-incentives-for-investment-bayer-zydus.html https://biospectrumindia.com/views/99/22568/pharma-rd-programme-to-provide-sustained-incentives-for-investment-bayer-zydus.html Wed, 01 Feb 2023 00:00:00 +0530 “A new programme to promote pharmaceutical research & development (R&D) will help spur investment in innovations that can address areas of high disease burden and unmet health needs in India. This is a long-awaited move, and we hope such a programme will provide sustained incentives for investment so that the Indian pharmaceutical industry becomes a global hub for both discovery and development work. Another critical requirement in India’s journey to provide healthcare for all has been to augment health system resources and medical personnel. The move to introduce 157 new nursing colleges in co-location with existing medical colleges will help relieve pressures on doctors and in the long term, increase health system capacity. This will facilitate greater and faster access to primary and preventive healthcare.” ]]> https://biospectrumindia.com/views/99/22569/looking-forward-to-providing-comprehensive-ecosystem-for-sickle-cell-disease-management-novartis.html https://biospectrumindia.com/views/99/22569/looking-forward-to-providing-comprehensive-ecosystem-for-sickle-cell-disease-management-novartis.html Wed, 01 Feb 2023 00:00:00 +0530 "We welcome the Union Budget 2023-24 announced by FM Nirmala Sitharaman and applaud the focus on research and innovation as these factors are essential in driving value-added growth. Fostering a robust research ecosystem will help in achieving universal health coverage by enabling accessibility, and availability of life-saving medicines. It will also improve India's intellectual capital and contribute to accelerating our growth toward becoming a $10 trillion economy by 2035.    As an organisation, we have a long-standing commitment and have undertaken several initiatives to improve the lives of those affected by sickle cell disease (SCD) and the announcement by FM to eliminate sickle cell anaemia by 2047 is very encouraging. We look forward to establishing more significant partnerships with relevant government stakeholders towards providing a comprehensive SCD management ecosystem to the patients.” ]]> https://biospectrumindia.com/views/99/22570/brought-much-optimism-to-the-healthcare-and-pharma-sector-oppi.html https://biospectrumindia.com/views/99/22570/brought-much-optimism-to-the-healthcare-and-pharma-sector-oppi.html Wed, 01 Feb 2023 00:00:00 +0530 "OPPI would like to congratulate the government on the 2023-24 Union Budget tabled by the Finance Minister. The budget has brought much optimism to the healthcare and pharma sector by putting the focus on research and innovation. With the announcement of a new programme for research in the pharma industry being formulated, there is immense potential for the sector to remain competitive in providing quality healthcare to its people. Moreover, the impetus for public-private collaborations showcases the government's emphasis on providing faster solutions to India's health challenges. As OPPI, we are looking forward to putting in all our resources and aligning with the government to achieve the objective of healthcare for all.” ]]> https://biospectrumindia.com/views/99/22571/overall-impetus-for-healthcare-delivery-sector-is-missing-aster.html https://biospectrumindia.com/views/99/22571/overall-impetus-for-healthcare-delivery-sector-is-missing-aster.html Wed, 01 Feb 2023 00:00:00 +0530 “The Union Budget 2023-24 has excellent focus on skill development and addresses one of the core challenges that healthcare industry is facing today – shortage of nursing staff, through the announcement to start 157 nursing colleges alongside existing medical colleges. According to a World Health Organisation (WHO) report published last year, India would require at least 4.2 million more trained nurses by 2024 to take care of its over 1.44 billion expected population. The current ratio of nurses and the population stands at a poor 1.7 nurses per 10,000 persons, which is much lower than the WHO recommendation of 4 nurses for 10,000 persons. However, the overall impetus for the healthcare delivery sector is missing. We were hoping for an increase in budget allocation for the industry which is essential to fulfil the need gaps. The need to have more hospitals and healthcare facilities in rural and suburban areas to meet the rising demand remains untouched. Hope the government would put more focus on public- private partnerships (PPP) to address this." ]]> https://biospectrumindia.com/views/99/22423/industry-expectations-riding-higher-than-ever-.html https://biospectrumindia.com/views/99/22423/industry-expectations-riding-higher-than-ever-.html Sun, 01 Jan 2023 00:00:00 +0530 The much anticipated Union Budget 2023-24 is knocking on the door and there are high aspirations from the finance ministry. The life sciences industry is hopeful that the government will consider certain recommendations being put forth by various healthcare and pharma companies and promote the growth of the sector.  Despite the Union Budget 2022-23 allocating Rs 86,200 crore to the Ministry of Health and Family Welfare, the industry is crying for more budgetary allocation from the finance ministry. However, certain sections within the sector were critical of the allocations made across the sector during the last year’s budget.    More support from government India is known as the ‘pharmacy of the world' and the right investments in R&D will help in propelling the sector forward. Indian pharma manufacturers were able to provide life-saving medicines at affordable prices to countries during the COVID-19 outbreak.  Dr Sudarshan Jain, Secretary General, Indian Pharmaceutical Alliance (IPA), urges, "The budget should outline supportive policies, simplified regulations, and simple goods and services tax (GST) norms to aid in the development of the pharmaceutical industry. Measures to facilitate the ease of doing business will increase investment and contribute to the industry's long-term growth.” He goes on to add that following the ‘Vasudhaiva Kutumbakam’ principle, the industry is poised to shift from Make in India to Discover and Make in India.  The government should take the growth story of the Indian pharmaceutical industry to an all-new high. This calls for building upon the manufacturing and research capabilities of the pharma sector with a focus on self-sufficiency in active pharmaceutical ingredients (APIs) and value creation through cutting-edge R&D. Talking on similar veins, Saransh Chaudhary, President, Global Critical Care, Venus Remedies and CEO, Venus Medicine Research Centre (VMRC) says, “The government should announce incentives and grants for cost-intensive research, particularly in critical care segments. All the material procured by pharma firms for R&D purposes should be exempted from both GST and customs duty. Strategic measures should be announced to capitalise on emerging opportunities for global value creation. Offering incentives to domestic API manufacturers on one hand and bringing about a reduction in GST and import duty on APIs on the other is the need of the hour. " Similar to the pharma sector, the healthcare sector also needs some budgetary push to sustain itself in the long run. Experts also point out the need to focus on affordable healthcare with the help of digital technologies.  Upendra Nath Sharma, Partner, J Sagar Associates, expects the government to increase allocation to the sector considerably and continue to provide other sops for the industry. He says, “It is expected that the Central Government will formulate new and effective models to encourage private investments in R&D, ensure a simpler and less time-consuming regulatory processes for speedier approval of new drugs, improve ease of doing business in India, provide incentives to healthcare startups, strengthen higher education system and promote digital interventions in manufacturing facilities and in the supply chain.” Image credit- shutterstock   Emphasising training, skills and capacity building  The healthcare sector, particularly the hospital, doctors and nurses were overburdened during the COVID-19 pandemic. Considering the pandemic which wreaked havoc and now with Omicron BF.7 spreading across certain parts of the world, the budget should focus more on prevention. Emphasis should be made on providing formal training to doctors and enhancing skills to boost the sector. The budget also needs to pay attention to building capacity for intensive care, upgrading the infrastructure at primary healthcare etc.  Dr Alok Khullar, CEO, Gleneagles Global Health City, Chennai explains, “Healthcare sector needs to be considered as a priority and an essential service. Various subsidies and benefits should be given on land rates and other necessities such as electricity, as it will pave for accessible and affordable healthcare with better infrastructure and high-quality treatment improving access to care and better patient outcomes.” Apollo Hospitals has classified its expectations into three categories, all of which addressed two key concerns. The three categories are incentivising health-seeking behaviour, promotion of healthcare infrastructure and capacity building and GST. Apollo wants mandatory health insurance introduced to ensure universal healthcare access, enhancement of health insurance premium exemption, increase in tax exemption on preventive health check-ups and expansion of the Pradhan Mantri National Dialysis Programme to all the districts.  Dr Sangita Reddy, Joint MD, Apollo opines that there should be no capital gains tax incidence at the time of setting up a Real Estate Investment Trust (REIT)/Business Trust as well for individual investors on the income distribution by the REIT/Business Trust. She mentions, "We are in favour of the provision of 150 per cent depreciation on new investment and infrastructure and permit depreciation charges over an accelerated time frame. An import duty relief for life-saving equipment; and a three-year extension for claiming Export Promotion Capital Goods (EPCG) credits given that the COVID years impacted international travel is recommended." While exhorting about the GST, Apollo recommends that the government may levy 5 per cent GST on the composite service and allow input credit. It also wants a GST waiver for supplies of goods and services between the head office and branch offices. Highlighting the need of enhancing the role of the private sector in increasing the capacities of healthcare professionals to address the shortage of healthcare professionals NATHEALTH has emphasised GST reforms, transitioning to a new Income tax regime and health financing.  Dr Shravan Subramanyam, President, NATHEALTH, shares, “It is imperative to build infrastructure capabilities so that people have greater access to quality and critical healthcare services. Viability gap funding by the government is essential to set up hospitals in Tier-II and Tier-II cities, encouraging increased investment in healthcare infrastructure. Uniform adoption of the Ayushman Bharat Digital Mission is another imperative which calls for clearly defined delivery models for innovative modules developed by private players. We are also witnessing a significant impact on the cost of running the business which will affect the sustainability of MedTech organisations. If all payment backlogs both for providers and suppliers under insurance and public procurement are cleared, it would significantly improve the availability of healthcare infrastructure. As we prepare for the post-pandemic era, stable policy frameworks and incentives to help the healthcare sector remain viable- investment via Foreign Direct Investment (FDI), expanding reach, investing in technology and innovation, reinforcing patient safety and adding to the skilled professionals of India.”    Image credit- shutterstock   Reducing import dependence  The med tech industry has been vocal about strengthening the finances of medical device manufacturers. The sector believes in creating a suitable environment for R&D by redesigning financial models.  The Association of Indian Medical Device Industry in its pre-budget recommendations wants the government to end the 80-85 per cent import dependence and an ever-increasing import bill of over Rs 63,200 crore. It urges the government to consider shifting from an 8 Digit HS Code to a 10 Digit HS Code as done by the US and Europe to give more granular data for enabling better analysis and policy making.  It further goes on to add that the government should protect the manufacturing base in India by increasing basic custom duty on the import of medical devices to at least 10 to 15 per cent from the current 0-7.5 per cent duty though WTO Bound rate is mostly 40 per cent; the GST needs to be a flat 12 per cent for all medical devices and trade margin monitoring.  Rajiv Nath, Forum Coordinator, Association of Indian Medical Device Industry (AiMeD) says, “If the government implements even 70 per cent of the recommendations recently made by the Parliamentary Committee on Health, we can see a reversal on the import dependence and growth of the domestic industry which will bring in affordable wider access to medical devices leading to better healthcare delivery.” For a country that relies heavily on imports to meet its healthcare needs, an additional tax threatens to not only dent the access to advanced medical equipment coming to India but will also leave patients bearing the brunt of these additional costs adding to the inflationary spiral.  As Pavan Choudary, Chairman and Director General, Medical Technology Association of India ((MTal) points out, “A separate budget of $1-5 million needs to be allocated for the promotion, advertising and marketing of the Indian medical device industry globally. This will help strengthen ‘brand India’ and get greater acceptability of India-made medical devices in overseas markets which will further the government's vision of ‘Make in India for the world’. It will also help in the promotion of India as a destination for manufacturing and R&D in MedTech." Lastly, Choudary recommends that the free medical device samples must be exempt from TDS.   Burden of high-cost diagnostics Similar to the med tech sector, driving down the cost of diagnostics should be crucial. Expanding the number of diagnostic facilities will eventually raise the standards. Says Narendra Varde, MD, Roche Diagnostics India & Neighbouring Markets, “Free package of basic diagnostics in public healthcare facilities would not only lessen the burden on the poor and the vulnerable but also make them available to middle-class sections who are struggling financially because of the high cost of healthcare diagnostics. The PPP model can be leveraged to scale up diagnostics infrastructure in the form of centres of excellence for infectious disease or NCD management in tier II & III cities.” He also opines on the need for greater and standardised regulations governing the accreditation of labs.    Expecting a proactive budget   Every year, the life sciences sector comes up with certain recommendations, however, which of these comes under the ministry’s notice remains a big question. Considering all the above recommendations, it can be understood that the life sciences sector is looking ahead for certain big reforms. A lot of discussions are the need of the hour where the finance ministry needs to sit with the sector and look in depth about what needs to be done to overcome the situation where India can hold its head high in healthcare with its large population base. With COVID-19 again in news across China and US, Japan is concerned, India needs to take decisive steps to ensure that a fruitful budget presents a win-win situation for both the government and industry at large. A proactive budget focusing on healthcare is an all around  industry consensus.  ------------   Key Budget Expectations  Supportive policies, simplified regulations, and simple GST norms Formal training to doctors and enhancing skills  Various subsidies and benefits should be given on land rates Promotion of healthcare infrastructure and capacity building Universal healthcare access Enhancement of health insurance premium exemption Increase in tax exemption Import duty relief for life saving equipment Three-year extension for claiming Export Promotion Capital Goods credits  5 per cent GST on composite service and allow input credit Exemption of free medical device samples from TDS Standardised regulations governing the accreditation of labs     Sanjiv Das sanjiv.das@mmactiv.com   ]]>