Budget 2017 proposals receive mixed reaction from pharma sector

The pharma sector representatives said the Union Budget has failed to specifically address imminent challenges directly affecting the key industry, but hailed certain proposals of Finance Minister Arun Jaitley.

The life sciences sector had great expectations from the Budget not only from a fiscal incentive perspective but also from a regulatory angle. Expectations were based on the Government's vision of making India one of the top three pharmaceutical markets by 2020, according to experts.

They, however, welcomed certain Budget proposals.

This year, too, no specific impetus was given to the sector. The move to eradicate certain NCDs, the proposal to set up two new AIIMS, additional post-graduate medical seats, proposed amendments in the Drugs and Cosmetics Rules and new rules for medical devices are welcome.

However, the Budget has not specifically addressed imminent challenges directly affecting the sector, KPMG India National Head- ..

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2/6/2017 12:43:47 PM