Budget 2024: Will medicine prices come down? Here are the expectations of the healthcare industry

As the finance ministry prepares for the upcoming budget in July, healthcare industry leaders are anticipating policy reforms, price adjustments, and major scheme announcements.

Sources cited by Financial Express indicate that the Center is expected to address rising medicine prices and strengthen India’s medical equipment manufacturing units.

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Additionally, there is potential for increased budget allocations for pharmaceutical research and development, which could result in more affordable medicines.

The report further adds that a significant boost in the pharma sector’s budget is also anticipated to ensure access to affordable life-saving drugs for diseases such as cancer and HIV.

Finance Minister Nirmala Sitharaman is expected to announce the Union Budget 2024 on either July 23 or July 24.