-Quote from Dr. B S Ajaikumar, Executive Chairman, HealthCare Global Enterprises Ltd
We welcome the measure to exempt the three cancer drugs, viz Trastuzumab deruxtecan, Osimertinib, and Durvalumab from basic customs duty, but given that these are exorbitantly priced, it won’t make much of a difference for the patient, especially those from low income groups. The intent is fine, but the outcome leaves much to be desired. The net effect of the proposed changes in the basic customs duty for X-ray tubes and flat panel detectors for use in medical X-ray machines calls for a granular study, but the effort is nevertheless laudable.
The marginally higher allocation to healthcare again has woefully fallen short of addressing its pressing needs and priorities, and it pales into insignificance before the substantial allocations to defence and other priority sectors. Time and again, we have seen the pain points going unaddressed which can only be resolved through an universal health coverage to enforce uniformity of treatment through the cross subsidy model, which can in turn arrest the financial strain and debt traps that the poor and deprived perennially face.
There is no rationalization of tax structure around life-saving drugs and emergency treatments. I was disappointed to see the key area of GST unaddressed, as also with no move to incentivise the private sector for bridging the urban-rural divide in the accessibility and affordability of healthcare services. Talking of education, it is high time we introduce the proven voucher system to transform the primary and secondary education in a sustainable manner.
The concessions on personal taxation front are heartening, but there is no stimulus to economic growth. Countries like Singapore have reaped rich dividends from their favourable policies for citizens and entrepreneurs including tax breaks, low corporate tax, and no burden of capital gains tax. Why can’t India not follow suit?
