Pre-budget 2021 expectation: Sanjiv Navangul, MD & CEO, Bharat Serums & Vaccines

The budget is likely to focus on a quick ‘recovery’ from pandemic lessons. The need of the hour for our industry is the availability and affordability of life-saving drugs for our billion-plus populace. The government’s vision for Atmanirbharta is based largely on the good work that authorities such as the DPCO will take up. The Union Budget should address long-standing special incentives and subsidies to encourage indigenous drugs and API production in line with Atmanirbharta. There should be tax cuts on life-saving drugs to make them affordable. We must also provide full medical cover to proactively help indisposed and senior citizens. Grants to Indian companies that make novel drugs should be made available to speed up patents and inventions. Flexible pricing policies that can encourage up to 7 per cent MRP increase year-on-year and giving 300 per cent deduction for R&D expenses will be beneficial for the industry.