Pharma industry leader and chairman of Dr. Reddy’s Laboratories Satish Reddy has said the Union Budget 2020-21 is disappointing in the backdrop of high expectations industry had nurtured.
“The industry had high expectations as it was seen to be an opportunity to announce big, bold reforms given the state of the economy. On that count, there is a degree of disappointment, in some quarters, as expectations have not been met,” he said in a statement on Saturday.
Mr. Reddy, who is president of Indian Pharmaceutical Alliance, said he, however, was happy to see healthcare continuing to be an integral part of the government’s key priorities. The announcement on expansion of the Ayushman Bharat programme by setting up additional hospitals in tier 2 and 3 cities was a welcome move.
“I would have liked to see a significant financial incentive to boost exports and improve the competitiveness of the pharma sector. I hope this will take shape with a new export incentive scheme. The overall thrust on ease of doing business, regulatory simplicity and policy stability should help the pharma industry scale new heights,” he said.
