As per this document for 2016-2017, the gov
As per Government document for 2016-2017, the government lost a revenue of Rs 1,54,822 crore because of tax subsidies on offer on indirect taxes (excise duty, customs duty and service tax). This works out to more than 1% of India's GDP.
These subsidies are generally given to units set up in Himachal, North East, Uttarakhand and the biggest chunk of more than 50% is swiped by the Pharma sectors and surprisingly they donot pass the benefits in their price mechanism of drugs to the consumers.. On the other hand, they loot the patients and make huge money which is then shared among manufacturers,distributors and retailers and hospitals.
I urge upon Government to stop giving these subsidies to Pharma Units with immediate effect.. Nation will save more than Rs.70,000 crores annually from this simple exercise.
The Phrama Units will not close down or run away as still their loot continues thru high prices and push sales.
The Government recently found it in " Stents" where more than 80% loot was made from patients by these pharma units. If you make the estimate of loot, it will be more than lacs of crores. more
These subsidies are generally given to units set up in Himachal, North East, Uttarakhand and the biggest chunk of more than 50% is swiped by the Pharma sectors and surprisingly they donot pass the benefits in their price mechanism of drugs to the consumers.. On the other hand, they loot the patients and make huge money which is then shared among manufacturers,distributors and retailers and hospitals.
I urge upon Government to stop giving these subsidies to Pharma Units with immediate effect.. Nation will save more than Rs.70,000 crores annually from this simple exercise.
The Phrama Units will not close down or run away as still their loot continues thru high prices and push sales.
The Government recently found it in " Stents" where more than 80% loot was made from patients by these pharma units. If you make the estimate of loot, it will be more than lacs of crores. more
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Government should take say 50% of the production to be sold to public at rate to be decided by government. Also it should be made compulsory to give full details of the cost of production, profit margin, etc. more
Mar 07
this is something very much akin to the Tirupur Effluent treatment plants story...where in Central Government is pressurized to give doles for Textile Dying Effluent waste water...but in reality using some stupid technology ...and best of all just spilling the waste water on agriculture lands and still becoming corrupt... and no state government body looking into those affairs due to soft peddling ...especially Palladam Road area...Arulpuram...Mangalam road...etc... more
Mar 06
Incentives for R&D as well as manufacturing and creating jobs but strict administration and plugging the loopholes in implementation is much more important than negating the incentives and subsidies. more
Mar 05
Local Circle provide us the opportunity to identify issues which needs solutions and we members can give valuabale guidance, solutions. Cheers to Local Circle. more
Mar 05
