Next crisis for the middle-class people..!? Strangling price problem..!

Sowmiya Sriram
Next crisis for the middle-class people..!? Strangling price problem..!
While the indian middle class is already facing a lot of problems due to rising food prices, the cost of medicine and medical treatment is taking a big toll. It must be said that the fear among people has increased especially when the incidence of infections like Corona and MonkeyPox is increasing. What is the reason for the increase in the cost of medicine and medical treatment?
While indian families are already being hit hard by the rise in food, fuel, and gas prices, the drop in the value of the rupee is not only increasing the price of medical equipment and drugs, but also the recently imposed GST tax on hospital room charges by the central government.
In a recent survey conducted by LocalCircles, 52 percent said that the depreciation of the rupee has increased the cost of food, pharmaceuticals, and medical expenses, leading to an increase in expenses.
Due to the fact that the indian medical sector is increasingly dependent on foreign medical equipment, the price of imported pharmaceuticals and medical equipment has increased due to the depreciation of the rupee. It falls directly on people's heads. Exports of the indian pharma sector increased by 103 percent to $24.6 billion during 2014-22 from $11.6 billion. Meanwhile, the import volume increased by 41 percent to Rs 63,200 crore in 2021-22 from Rs 44,708 crore in 2020-21.
At the same time, most of the active pharmaceutical ingredients, manufacturing materials, and hospital equipment required for the production of pharmaceutical products are imported from abroad and paid for in US dollars. All these, directly and indirectly, affect the pharmaceutical and medical sectors.

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