Budget 2015

11Feb

Union Budget 2015-16 Pre-Update : Govt may incentivise medical/pharma research.

The pharmaceutical industry is expecting initiatives to boost bulk drug manufacture in Budget 2015. The current rate is 5 percent but the industry is expecting an increase in import duty on Chinese imports to 7.5 percent.

According to brokerage firm CARE Ratings, imports of bulk drugs have increased in recent years, especially from China. Government may want to reduce dependence for bulk drugs on Chinese imports. Hence, it may incentivise local manufacture of bulk drugs.

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