Budget paves way for India's healthcare transformation: Mankind Pharma

"The 2024-2025 budget demonstrates a strong commitment to the health sector's growth and development, aligning with the vision of 'Viksit Bharat'. We applaud the government's holistic approach to healthcare, addressing crucial areas such as medical education, preventive care, and infrastructure development,” says Arjun Juneja, Chief Operating Officer, Mankind Pharma Limited and Chairman, Pharma Committee, FICCI.

He says that the allocation for long-term R&D financing in pharma, recognition of the sector as a sunrise industry, and the bio-manufacturing scheme are particularly encouraging. Additionally, the exemption of customs duties on three additional cancer medications is a commendable step towards easing the financial burden on patients.

“These initiatives, coupled with improvements in logistics and supply chain management, will significantly boost the pharmaceutical and healthcare sectors. While we appreciate the comprehensive strategy, we look forward to further discussions on critical issues like GST rationalisation for healthcare and addressing the nursing shortage.”

According to him, the budget sets a positive direction, and with effective implementation, it has the potential to transform India's healthcare landscape, making it more resilient, accessible, and aligned with our vision of a healthier nation.