Budget 2022-23 is likely to improve research and innovation in the pharma sector

Pointing out that the incentives in the budget will further improve innovation in healthcare, Richa Mahindru, Domain Leader, Pharma and Life Sciences, Praxis Global Alliance said, “The Union Budget 2022 is predictably aligned for the Pharma and Healthcare sector in continuation to the previously announced production linked incentives and policies under Aatma Nirbhar Bharat Abhiyaan scheme. The budget will provide improved access for mental health counseling and healthcare facilities with the launch of the National Tele Mental Health program. With a stepped-up expenditure allocation of 137 percent in the Healthcare industry and PLIs in place for domestic manufacturing of APIs, KSMs, and drug intermediates, the budget is poised to support the innovation of new drugs and provide affordable access to healthcare facilities."

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