Post-Budget Reactions from Various Leaders from Health Industry

The Union Budget 2020 is out. The budget is more focussed on healthcare to improve the country’s human development index. So in regards to the same, please find enclosed the quotes from health industry experts

1) 

"The government's decision to use the proceeds from the taxes levied on medical devices to boost the health infrastructure in tier 2 and tier 3 cities is a smart move. It will help increase the access to quality healthcare in underserved areas, which will in turn increase the sale of medical devices. As such, the plan is sustainable and will be beneficial to all the stakeholders in the healthcare ecosystem. While the government's recent decision to regulate the price of medical devices and slash the import duties on raw materials is a step towards making healthcare more accessible, it should also incentivize research and development to support local manufacturing. Since most of the medical devices are replaced by a newer model once every two years or so, the major medical device manufacturers spend more money on research and development compared to other industrial firms. Since the payback period is shorter, central incentive will more than help foster innovation in the sector and increase the quality of healthcare service delivery."Says, Mr. Nikhilesh Tiwari, Founder  & CEO, ColMed. 

2)

"The demand for protein from animal sources like fish has been increasing 15-20 % per annum. In the union budget 2020 finance minister Nirmala Sitharaman announced that fish production is to be raised by 200 lakh tones by 2022-23 to meet the growing demand. Moreover, the state governments who indulge in poultry farming and raising other livestock will be encouraged with the help of government sponsored incentives and reliefs. This will improve the state of poultry farming and aquaculture in the country and will help meet the growing demand." Says Dr. Bhushan Bhavsar, Managing Director, Vetphage Pharmaceutical Pvt Ltd.

3)

“The importance of more women entrepreneurs and employees in workplace cannot be stated enough as it contributes to the growth of the economy as well as helps lend a positive atmosphere in office. In union budget 2020 Finance Minister Nirmala Sitharaman praised the positive effect of Beti Bachao Beti Padhao that has led to higher gross enrolment ratio for girls than boys. 28,600 crore rupees have been set for women centric programs to encourage them to do business and become entrepreneurs.” said Dr. Prakriti Poddar Expert in Mental Health, Director Poddar Wellness Ltd, Managing Trustee of Poddar Foundation.