Great Expectations from Budget 2013-14

This year’s budget could very well prove to be a crucial and determining factor in the elections next year. The expectations are very high, especially within the pharma industry which is expecting this year’s budget to make up for last year’s neglect. Usha Sharma and Shalini Gupta present the industry’s expectations

‘Time for a visionary budget’
– Ranjit Shahani, President, Novartis Group and President Organization of Pharmaceutical Producers of India and Country

‘Need more focus towards taxes’
– Tapan J Ray, Director General, Organisation of Pharmaceutical Producers of India (OPPI)

‘How will the govt procure medicines worth Rs 27 cr?’
– Ajay Kumar Sharma, Pharmaceutical and Lifesciences Practice, Head Frost & Sullivan

‘The proposal to set up a NLSRC by the DBT is a welcome suggestion’
– PM Murali, President, ABLE

‘Aim to incentivise higher spending in R&D’
– Rajesh V Desai, Executive Director & CFO, Glenmark

‘Custom duty should be minimised, preferably eliminated’
– Umesh Pawa, Managing Director, ABSCIEX India

‘A special focus on R&D funding is required’
– Pawan Chaudhary, Chairman & Managing Director, Venus Remedies

‘Encourage R&D activity on clinical research front’
– Apurva Shah, Chairman, Association of Contract Research Organizations, (ACRO)

‘GST on drugs must not result in higher tax’
– Daara B Patel, Secretary-General, IDMA

‘We need to sustain significant growth process’
– Sujay Shetty, Leader Pharma and Life Sciences, PwC India