Budget Reaction from Dr. GSK Velu on the healthcare sector

New Delhi, Mar 05, 2015
Budget Reaction from Dr. GSK Velu on the healthcare sector

Entrepreneurship Profile :

• Founder and Managing Director, Trivitron Group of Companies (the largest medical technology company of Indian origin)
• Co Founder and Vice Chairman, Metropolis Healthcare (second largest chain of medical laboratories in the country)
• Founder and Chairman of Maxivision Eye Care Hospitals – a Medfort Hospitals initiative ( pioneers in laser surgery in India)
• Founder and Director, Alliance Medicorp Ltd. and Alliance Dental Ltd.Apollo White Dental (Largest chain of dental hospitals & largest chain of dialysis in India)

Positives :

1. Increase of tax exemption limit for Medical Insurance ‎premium

2. Choice to use ESI contribution for insurance premium payments

3. New AIIMS in few states

Negatives :

1. Reduction of budget allocation for health sector in FY 16 compared to FY 15.

2. Absolutely no SOPs or initiatives for Make in India initiative in the Medical Devices segment which imports around 27,000 crs worth of Medical Devices and Medical instruments to the country. What was done for Electronics and Telecommunication industry should have been extended to Medical Devices and Medical instruments industry too. Even inverse duty structure which discourages manufacturing in this sector hasn’t been removed despite representations.

3. No specific initiatives to promote R&D in the Medical Devices and Pharmaceuticals segment.

4. No clear direction on PPP in health sector like it was done for the infrastructure sector.
CCI Newswire