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Centre's decision on policy for pharma sector hailed

Staff Reporter

MADURAI: The Madurai District Tiny and Small Scale Industries Association (MADITSSIA) has hailed the decision of the Centre to evolve a policy for the pharmaceutical sector.

According to its president, S. Aravind, the draft pharmaceutical policy proposals to enhance the exemption limit of small scale units from excise duty from the present turnover level of Rs.1 crore to Rs.5 crore would be a relief to many small units.

The proposal to include local tax in MRP was also welcome, he said.

In a statement issued here recently, MADITSSIA wanted the inclusion of alternative systems of medicine also in the policy.

Similarly, Magic Remedies Act should be amended to be practised in allopathy also.

Licensing system

To ensure that the policy was full fledged, the system of licensing should be made uniform in all the states, he said.

The move to reduce Central Excise levy on all medicines from 16 per cent to 8 per cent was welcome and this would pave way for availability of medicines at a cheaper rate, thereby benefiting people depending upon medicines for survival.

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