Budget 2022: Industry eyes increased fund allocation for health

Sudarshan Jain, Secretary General, Indian Pharmaceutical Alliance stated that the Indian pharmaceutical industry is of strategic importance for the country, providing access to affordable quality medicines across the world.

The budget should spur innovation and set the pace for taking the pharmaceutical industry to the next level, added Jain.

Jain underlined that as we have been into the pandemic for the last two years, everyone has talked about strengthening of health infrastructure. “But it can not be done with spending just 1.2 per cent of the GDP, and instead the health spending should go around 2.5 per cent of GDP this year.”

The Covid-19 pandemic has remained a challenge for the healthcare system as lack of adequate infrastructure and the shortage of basic medical equipment are some points which emerged as important obstacles in providing heathcare services in rural areas.

“The industry expects that preventive medicines will get important places because of Covid pandemic in this budget,” said Dr Ravi Mallik of Radix Healthcare.

Dr Ravi Mallik are hopeful that fund allocation for health will increase in this budget to strengthen the health infrastructure across the nation. In developed nations, over 12 per cent of GDP is spent on health, he said, adding that India’s health share in GDP should increase to 2.5 per cent.