Latest Current Indian Government Approvals Affairs

Government approved Drug Pricing Policy to lower Medicine Cost

                                       The Union Government recently has approved the most awaited National Pharmaceutical Pricing Policy. This approval has importance of its own as it will help the government to bring 348 essential drugs under price control, which has became necessary considering the present scenario. This will eventually leads to reduction in prices of various medicines.

                                       The Union Cabinet has a noble objective to put in place a regulatory framework for pricing of drugs. The Government wants to ensure their (the listed drugs) availability at reasonable prices, which is the present need of the country for sure. That is the one of the main reason for the National Pharmaceutical Pricing Policy approval by the UPA Government.

                                            At present the government controls the prices of 74 bulk drugs and formulations via the National Pharmaceutical Pricing Authority (NPPA). That’s not all the Cabinet has also stated that they will provide the required (sufficient too) opportunities for innovation and competitions to support the rising of the Indian Pharma Industry.

                                            Earlier the honorable Supreme Court had set a ultimatum deadline of November 27 for the current government to finalize the policy while asking it not to after the existing mechanism of cost-based drug pricing.

                                             After getting the deadline from the Supreme Court, the government started to act on a rapid basis. A committee was formed with a group of Ministers, which is headed by Agriculture Minister Sharad Pawar. The committee proposed to fix prices based on weighted average of brands which have more than 1% market share.

Government Approved Private Participation in Rail Connectivity

                               The Union Government recently Okayed an important policy framework, which will lead to allow the awaited private participation in rail connectivity and capacity augmentations of projects. The government has also addressed the first and last connectivity for entire freight commodity.

                                The Cabinet is mainly aiming at facilitating speedy execution of rail connectivity projects. To achieve that aim target, the Union Cabinet approved the policy framework and the private participation model. It has to be mentioned here that this move will give a huge boost to industrial development and significantly enhance freight traffic of the Indian Railways.

                                               There is no ambiguity regarding the present manner in which the said projects are to be structured and executed, as the “transparent framework” has been suggested in that way only. Last but not the least the Zonal Railways may be held accountable for all the results in deed.