Medicine, doctors, healthcare etc… are words used across the world with the same belief; good to have nearby but hopefully never have to use. The truth though is that we are rarely given a chance to go through life unscathed and whether you go to a doctor or not at some point you take some nutraceutical products to alleviate the pains that you may have. For most people this is a regular occurrence regardless of their economic status and hence becomes necessity rather than a one off. In such a scenario it is imperative that there is a systematic balancing of the price of such essential drugs as it can greatly affect the welfare of the people. The current hike in the price of the essential drugs in India has done just that and here a few things that it has impacted.
The common man:
In a country with a huge percentage of people under the poverty line and unable to find revenue for running their homes and feeding their families, this price hike on medicine that was already difficult to afford has become even harder. There are lakhs of individuals that can can’t receive proper medication and instead of finding ways to help them, the current hike adds more people to that list.
Switch to alternative medicine:
When one route becomes blocked people tend to find other ways to cross a path and if traditional western medicine starts becoming unaffordable as has been the case with big mainstream hospitals. Then people will look for alternatives in other forms of medicine such as homeopathy, Ayurveda etc… This is because the price hike has removed the question of which do you believe in and made it which can you afford to take?
Free State healthcare?
Many states have been providing free or subsidized medicine and medical care in their regions, but a hike of 10% is a huge impact on their budgets and it will be difficult to see how they manage. Where does the extra funds come from? More Taxes? Will subsidies be reduced or free treatment limited? These and many more questions will need to be answered by the State Governments and fast because the people who need these services are all in emergency situations financially.
Pharma boom through exports?
With India exporting a huge volume of medicine it is natural that these price hikes can be a big boost to companies as income will rise significantly. So does that mean there is a boom in the industry about to happen in India or will the companies purchasing these products from India start looking at alternative companies in other countries that are cheaper, thus leading to a downturn in revenue?
So as you can see the impact will occur from a government level to an individual person leading to a wide array of issues that need to be resolved/answered fast from the top level at the earliest. Let us know your stories and if this hike has hit you hard.
You might also like to check out: