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Dr.GSK Velu Expects Rationalise GST rates for health sector from Budget 2020

Dr.GSK Velu – Chairman – MaxiVision Super Specialty eye hospitals group, Hyderabad (Trivitron Health care group) spoke on his expectation from upcoming budget 2020

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Union Government budgetary allocations for the healthcare sector for the past few years are very encouraging to spice up the expansion of the industry, as healthcare is one among the fast growing sectors in India which is contributing for the healthy improvement in GDP of the country tons . However there are certain challenges which needed designated focus within the budget.

We urge the Union Govt to seem at budgetary allocations within the following crucial areas within the upcoming Union Budget 2020

1) Government should specialise in creating healthcare infrastructure and invest extensively in upgrading primary and secondary healthcare services in tier I-II cities within the country. this will leverage the indigenous medical technologies developed specifically for Indian healthcare needs, and thereby support the Make in India initiative.

2) In spite of clearing regulatory hurdles associated with the import–export of medical devices, this sector requires special diligence within the budget. The medical devices sector is growing at a faster pace within the country requires special attention to return out of 70% import dependency through buy India policies

3) Budgetary allocation should be enhanced on primary health and on establishing health and wellness centres (announced under Ayushman Bharat) which can help to scale back the disease burden.

4) Government should provide support to local manufacturing units in terms of preferred interest rates and priority sector lending.

5) Rationalise GST rates for health sector.

6) Medical Devices manufactured in India should tend preference in Government Purchases

A well thought out additional budget allocation is important for Healthcare Segment to enhance the wellbeing of each citizen of India resulting in Universal Quality Healthcare for all soon.

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