10 areas in pharma Budget 2015-16 should focus on
E. Kumar Sharma
February 20, 2015
Associate editor E Kumar Sharma lists the key points finance minister
Arun Jaitley should focus on when he reads out his Budget speech on
- Incentive to invest in research and innovation. For instance, provide R&D tax benefits even for work done outside the country by Indian pharma and biotech companies.
- Expenditure by Indian pharma companies on filing global patents should also be considered as R&D expense.
- Allocation of funds or budgetary support for the creation of infrastructure parks for pharma or supporting such initiatives undertaken by state governments.
- CSR cost should be considered before tax and not after tax.
- Introduce measures and financial incentives in government procurements that encourage manufacturing within India.
- Provide for greater spending on public healthcare keeping in view the goal of achieving universal health for all.
- Funds to monitor and improve India's healthcare delivery.
- Measures to improve reach of healthcare.
- Extend relief from MAT (minimum alternate tax) for pharma SEZs.
- Support the bulk drug industry given the competition from China.