Budget 2017 from Manpasand Beverages,OPPI,Shalby Limited

Budget 2017 from Manpasand Beverages, OPPI, Shalby Limited

Budget 2017 Reactions: Mr. Abhishek Singh, Director, Manpasand Beverages Ltd

Budget 2017 Reactions: Mr. Abhishek Singh, Director, Manpasand Beverages Ltd
Budget 2017 is a wholesome budget which has stayed close to our expectations. This budget has the potential to walk the talk. From the food processing industry point of view, budget 2017 has paved ways for the growth of the sector by focusing on agriculture and rural development. The proposal to integrate farmers who grow fruits and vegetables with agro processing units is a welcome move as it makes better economic sense for both the parties, while reducing post-harvest losses. It is also encouraging to see that the Govt. has announced provision for end to end integrated transport solutions for select commodities such as agricultural products.

In the current budget, the Government has given due appreciation to the MSME sector as one of the major employment providers in the country. The sector has been given sop in terms of reducing tax to 25%  from 30% for smaller companies with annual turnover upto Rs. 50 crore. This will make them more competitive and bring more companies under the formal fold, as food processing sector is largely dominated by unorganized players.

Finally, by increasing spending in rural areas, the budget aims for providing sustainable livelihood measures. The reduction of taxation for individuals with income between `2.5 lakh’ to `5 lakh’ to 5% from current 10% will boost consumption and this is good news for FMCG industry as a whole. In the long-run, these measures will not only spur growth but also bring many out of poverty.

Post-Budget Quote: Kanchana TK, Director-General, Organisation of Pharmaceutical Producers of India (OPPI)

Union Budget 2017-18 for the healthcare industry by the Hon’ble Union Finance Minister, Shri Arun Jaitley Quote from Kanchana TK, Director General, Organization of Pharmaceutical Producers of India (OPPI)

“OPPI welcomes the commitment of the Government to - reduce infant and maternal mortality rates; eliminate certain diseases like TB, leprosy, measles and filaria and make structural reforms in medical practice and education.  The Government’s intention of transforming 1.5 lakh health sub-centres is encouraging.  We also appreciate the Government’s intent to amend the Drugs and Cosmetics Act which will be a step towards ensuring patient safety.

We had some expectations from the Union Budget 2017-18, given the Government’s past stated intentions of improving access to healthcare. Yesterday’s World Economic Forum said that that India’s public spending on healthcare is much lower than the global average. It is unclear whether the allocations will adequately address current healthcare challenges. We also hoped for some reform announcements on the regulatory front in the form of weighted deduction on R&D, incentives for patents, exemptions of certain duties and taxes, etc.”

About OPPI: 
The Organisation of Pharmaceutical Producers of India (OPPI) was established in 1965 and represents the research-based pharmaceutical companies in India. OPPI remains committed to supporting the nation’s healthcare objectives and collaborating with all stakeholders to find sustainable solutions. OPPI believes the need for innovation must be balanced with the necessity for more accessible medicines, within a robust IP environment. For more information, please visit www.indiaoppi.com

Dr. Vikram Shah, CMD, Shalby Limited

Dr. Vikram Shah, CMD, Shalby Limited
“All in all a positive budget with focused approach on improving lives of a billion plus population. Higher allocation to healthcare and healthcare infrastructure, initiative for tele-medicine and addressing concern of shortage of healthcare professional will ensure better healthcare index. Gujarat is fortunate to get the bonanza of an All India Institute of Medical Science.

Allowing private hospitals to start Diplomate of National Board courses (DNB) and ensuring adequate availability of specialist doctors to strengthen the secondary and tertiary levels of health care and target of creating additional 5,000 post graduate seats will help address the issue of shortage of healthcare professionals. The move to convert 1.5 lakh health sub-centres to Health Wellness Centres will definitely give a big boost to Health for All.”