Welcome revision of MSME limits: Dr Harsh Mahajan,  FICCI Health Services Committee 

Dr. Harsh Mahajan, Chair of the FICCI Health Services Committee and Founder & Chief Radiologist at Mahajan Imaging & Labs notes the absence of a revision in GST rates on medical devices which would would have provided immediate relief particularly for diagnostic and imaging technologies 

We welcome the revision of MSME limits and the exemption from income tax for up to Rs 12 lakh, which will significantly benefit those working in the healthcare sector. These initiatives will provide crucial support to small businesses, helping them grow and contribute to India’s healthcare ecosystem.

We also applaud the government’s commitment to enhancing healthcare accessibility, particularly through initiatives like daycare cancer centres in district hospitals and expanding rural healthcare under the BharatNet scheme. These measures will significantly improve cancer care and access to essential healthcare services in underserved areas.

The exemption of 36 life-saving drugs from basic customs duty, along with the concessional 5% duty on six additional medicines, will make critical treatments more affordable for patients suffering from cancer, rare diseases, and chronic conditions. Furthermore, the inclusion of 37 additional medicines and 13 new patient assistance programs will further ease the financial burden on patients.

We also welcome the focus on promoting Medical Tourism and the “Heal in India” initiative, with the government working alongside the private sector to build capacity and attract global healthcare seekers. These efforts will strengthen India’s position as a world leader in healthcare.

While these initiatives are commendable, we note the absence of a revision in GST rates on medical devices. A reduction in GST would have provided immediate relief to the healthcare sector, particularly for diagnostic and imaging technologies crucial to timely patient care.

We remain committed to supporting India’s healthcare transformation, leveraging cutting-edge diagnostic solutions to improve patient outcomes and increase access to life-saving treatments across the nation.