Make pharma sectoral investments more appealing: Pre-Budget Survey

NEW DELHI: According to a survey of pre-budget expectations, there is growing desire in the pharmaceutical business to make investments more appealing.

According to the Grant Thornton Bharat survey, the government should increase outlays in the PLI plan, with a focus on biopharmaceuticals and medical devices, according to the majority of respondents polled.

According to the study report, "the sector anticipates innovation and research and development (R&D) to be the primary investment drivers."

"The reinstatement of a higher percentage deduction under Section 35(2AB) of the Income-tax Act of 1961 will boost R&D and innovation." Notably, 85% of respondents expect a higher percentage of deduction for R&D spending under Section 35(2AB) of the Income-tax Act, 1961 to be restored. Furthermore, 81% believe pharmaceuticals will be included in the 'RoDTEP' programme.

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