Budget 2025: Union Finance Minister Nirmala Sitharaman is going to present the general budget on 1 February 2025. This will be Nirmala Sitharaman’s eighth budget. At the same time, this will be the second budget of the third term of the Modi government. The healthcare and pharma sector also have high expectations from this budget. The common man wants to get relief from expensive treatment. The cost of medicines should be low and access to insurance should be easy. At the same time, the industry has expectations of tax cuts. At present a large section of people in India are deprived of insurance. In such a situation, something can be seen in the budget to ensure that health insurance and life insurance are within the reach of every citizen.
Increase in the budget of public health facilities
According to experts, if the government increases the budget of public health facilities and encourages the private sector to help, then the common man can get better health services. It is expected from Budget 2025 that the government will cut the input GST on healthcare services. According to experts, there is a big difference between the premium charged by insurance companies and the claims given by them. Therefore this system needs improvement.
Pharma sector has many expectations
The pharma sector has many expectations from Budget 2025. Indian pharma sector can reach $130 billion by 2030. At the same time, by the year 2047 it can reach 450 billion dollars. According to experts, the government should decide to abolish GST and import duty on life-saving medicines. Also, steps should be taken to promote investment in R&D. There is also a need to encourage domestic API manufacturers and expand PLI schemes.
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