“We welcome the rationalization of GST, which comes as a corollary to the tax cuts and 100% FDI in insurance announced in the Union Budget earlier this year. Together, this provides a valuable platform to make healthcare more accessible and affordable. The reduction in GST rates of life-saving and other drugs, and the standardization of GST for consumables are very positive steps both for the patient and for the sector. India’s aspiration for more health infrastructure will be well-served with the reduction in GST for construction inputs like cement, fly ash bricks, marble and granite. Above all, we believe this will enable many more Indians to purchase health insurance and insurers will serve a larger insured pool. This will truly unlock access to high-quality healthcare for India.”
