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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 February 28.

  1. 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.
  2. Expenditure by Indian pharma companies on filing global patents should also be considered as R&D expense.
  3. Allocation of funds or budgetary support for the creation of infrastructure parks for pharma or supporting such initiatives undertaken by state governments.
  4. CSR cost should be considered before tax and not after tax.
  5. Introduce measures and financial incentives in government procurements that encourage manufacturing within India.
  6. Provide for greater spending on public healthcare keeping in view the goal of achieving universal   health for all.
  7. Funds to monitor and improve India's healthcare delivery.
  8. Measures to improve reach of healthcare.
  9. Extend relief from MAT (minimum alternate tax) for pharma SEZs.
  10. Support the bulk drug industry given the competition from China.


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