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Economic Survey 2022| Govt initiative led to up to 89% fall in prices of key Covid devices

The prices of drugs and medical devices in India have long been under the scanner for unaffordability to a large chunk of the population but the government now claims that it is trying to fix a trade margin ceiling for many drugs, including the ones used in COVID treatment, to make them easily accessible to people.

January 31, 2022 / 04:26 PM IST
Oxygen concentrator (Representational image)

Oxygen concentrator (Representational image)

New Delhi: The decision taken by the central government on June 3 last year, to bring several crucial medical devices used to treat and manage COVID-19 under price control by fixing a trade margin may have lowered their prices by up to 89 percent, said the Economic Survey report 2022, presented in the Parliament on January 31.

The medical devices which were brought under price control included oxygen concentrators, pulse oximeter, glucometer, blood pressure monitor, nebulizer, and digital thermometer.

According to the survey report, the availability of key medicines—used in COVID19 treatment- is also being monitored through regular surveys being conducted at chemist shops at various locations across the country by the Drug Controller General of India.

The report said that through the National Pharmaceutical Pricing Authority, ceiling prices for 355 medicines and 886 formulations have been fixed for medicines under the National List of Essential Medicines, 2015 till December last year.