The Confederation of All India Pharmaceutical Students (CAPSI) has recently written to Prime Minister Narendra Modi, urging him to reconsider the 18 per cent Goods and Services Tax (GST) levied on them. This decision has been met with great concern and disappointment by the pharmaceutical students across the country.
CAPSI, the apex body representing over 40,000 pharmacy students in India, has been working tirelessly to promote and improve the standards of pharmacy education in the country. However, the recent imposition of GST has posed a great challenge for the organization to continue its valuable work.
The pharmaceutical industry has been one of the major contributors to the Indian economy, with a growth rate of over 15 per cent. It is a sector that has been instrumental in providing affordable healthcare solutions to the masses. However, the imposition of GST has put a financial burden on the industry, making it difficult for them to sustain their operations.
The pharmaceutical students, who are the future of this industry, are also facing the brunt of this decision. With the imposition of GST, the cost of education has increased significantly, making it unaffordable for many students. This has resulted in a decline in the number of students opting for pharmacy courses, which in turn, will have a negative impact on the growth of the industry.
Moreover, the 18 per cent GST levied on the pharmaceutical industry is much higher than the previous tax rate of 12 per cent. This has led to an increase in the prices of medicines, making it difficult for the common man to access essential healthcare services. This goes against the government’s vision of providing affordable healthcare to all.
In light of these issues, CAPSI has requested Prime Minister Modi to re-look at the 18 per cent GST levied on the pharmaceutical industry and consider reducing it to a more reasonable rate. This will not only ease the financial burden on the industry but also ensure that the students are not deprived of quality education due to high costs.
The pharmaceutical industry has been contributing significantly to the growth of the Indian economy and has the potential to do much more. However, the imposition of high GST rates has hindered its growth and is hampering its ability to provide affordable healthcare solutions to the masses. It is imperative that the government takes necessary steps to support this vital sector and promote its growth.
On behalf of all the pharmacy students in the country, CAPSI urges the government to consider their request and take necessary actions to reduce the GST rates on the pharmaceutical industry. This will not only benefit the industry but also contribute towards the betterment of the healthcare sector in India.
We believe that the government’s vision of a healthy and prosperous India can be achieved by working together towards a common goal. We are confident that under the leadership of Prime Minister Modi, our concerns will be addressed and necessary steps will be taken to promote the growth of the pharmaceutical industry.
In conclusion, we hope that our request will be taken into consideration and necessary actions will be taken to reduce the GST rates on the pharmaceutical industry. This will not only benefit the industry but also ensure that the future of pharmacy education in India remains bright. Let us work together towards a healthier and stronger India.
