Hyderabad, Jul 5 : Dr Reddy’s Laboratories Limited Chairman Satish Reddy termed the Union Budget presented by Finance Minister Nirmala Sitharaman in Lok Sabha for FY 2019-20 as nothing to fuel growth in the healthcare and pharma sectors and it was disappointing.
In a statement here on Friday, Mr Reddy said “The expectations from the Union Budget 2019-20 were that of a bold reformist budget, however, it turned out to be an incremental budget at best.
The emphasis on start-ups and on the education sector is a good move. However, there was nothing to fuel growth in the healthcare and pharma sectors, which is disappointing. I was particularly keen on seeing a change in the weighted deduction for R&D which did not happen. A positive policy move of this kind would have spurred R&D and innovation in pharma and other sectors.”
In another statement, Apollo Hospitals Group Chairman Dr Prathap C. Reddy said, “My compliments to the Finance Minister for outlining Modi 2.0’s vision to take the nation to new heights over the next five years.
Reminding citizens of their duty to India, the budget presented a long term vision to achieve a USD 5 trillion economy by 2024, he said.
The Apollo Hospitals group resolves to do its duty and join the nation in waging a war against the tsunami of non-communicable diseases that threatens the health of society, leading the country into a global initiative to stop the growth of NCDs in its tracks.”(UNI)