Tax on medical equipment affects people: Opinion of Indian Medical Technology Association

New Delhi

Treatment equipment such as chess tariff has been imported and the cost of this national equipment will increase further. As a result, those receiving treatment will face serious consequences, the Indian Medical Technology Association has said.

The central government’s tax code is contrary to the Prime Minister’s Public Health Plan, which aims to ensure that everyone has access to medical care.

Treatment equipment is already 7.5 percent taxed.

Currently, 5 percent chess is taken as tax. Thus, the sale price is increasing. Those who are finally getting treatment will face this price hike. In this way, the tax will directly affect not only the medical sector but also the people.

No major equipment is manufactured in India. Most sophisticated medical equipment is imported from abroad. Sanjay Bhutani, director of the Indian Medical Technology Association, said the tax would increase the number of medical devices being illegally brought into the country.

Finance Minister Nirmala Sitharaman said in a central budget announced earlier yesterday that it would impose a five percent tariff on medical equipment to boost domestic production.

In the budget for the fiscal year 2021-27, Tk 67.67 crore has been allocated for the development of the health sector. This is a 3 percent increase over last year. However, the central government has suggested that the nominal GDP will be ten percent in FY 2020. It is reported that the allocation in the health sector is very low compared to the GDP ratio.

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