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Budget 2020: Cess on imported medical devices fails to enthuse domestic manufacturers

“To give impetus to domestic industry, and to generate resource for health services, it is proposed to impose a nominal health cess of 5 percent on imports of specified medical equipment,” said Finance Minister Nirmala Sitharaman in her budget speech.

February 01, 2020 / 10:26 PM IST

The Union Government in its Budget 2020 has imposed 5 percent health cess on the imports of medical equipment to provide for funds to set up hospitals in backward districts and encourage local manufacturing.

“To give impetus to the domestic industry, and to generate a resource for health services, it is proposed to impose a nominal health cess of 5 percent on imports of specified medical equipment,” said Finance Minister Nirmala Sitharaman in her budget speech.

The Finance Minister in the Budget proposed to set up Viability Gap funding window for setting up hospitals in the public-private partnership (PPP) mode.

In the first phase, those aspirational districts will be covered, where presently there are no Ayushman empanelled hospitals. This would also provide large scale employment opportunities to youth.