Issues of Medical Devices Industry did not get a highlight in Union Budget , says AiMeD

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According to Nath, the Budget has nothing for the promotion of growth of Indian medical devices industry other than repeating last year's assurance to end custom exemptions of products that can be made in India. "The only positive announcement was on Public Procurement by allowing 75 per cent prompt payments and bringing in a weighted price preference on account of quality which is especially critical in healthcare related medical devices," he said.

"Though we still need to go through the fine print, the budget has not addressed many of the issues highlighted by large parts of the healthcare industry like streamlining of GST and reduction of customs duty. The rolling back of the health cess is our other demand which will help us preserve jobs, jobs which are instrumental in making the Healthcare workers become patient ready. In similar expression of patient interest, we have also sought that the GST slab for medical devices be brought down from 12% to the rate of preferential products i.e. 5 per cent." stated Pavan Choudary, chairman of Medical Technology Association of India.

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