In order to increase vaccination in the country, the government may remove the custom duty from imported COVID vaccine. This will reduce the prices of medicines. At the same time, their access to people will increase.
Coded Vaccine Sign Photo
The government has decided to waive up to 10 percent customs duty on Covid-19 vaccine coming from abroad, giving relief to the people amid Corona infection. With this, foreign medicines of COVID will be available at a lower cost. It is believed that this decision can be taken due to the introduction of vaccination work for people above 18 years of age. However, no official announcement has been made about this yet.
According to the Sunshine Agency Reuters, the government currently imposes 10 percent customs duty and 16.5 percent I-GST and social welfare charge on vaccines coming from abroad. Due to which imported vaccines become expensive. Custom duty can be waived for the purpose of reducing the same thing. Let us know that the Sputnik V vaccine of Russia can come to India by this month or next month. Apart from this, companies like Mordana and Johnson & Johnson have also applied for approval to bring their products to Emergency Use in India.
Discussion on duty waiver since last year
According to sources, waiving of customs duty on imported medicines is being considered since December last year. At that time, foreign manufacturers such as Pfizer applied to supply their vaccines in India. Therefore, it is believed that keeping these applications in mind, the government may soon remove the custom duty on COVID vaccine to be imported from abroad.
1500 crore credits given to vaccine manufacturers
The central government on Monday asked all people over 18 years of age to get vaccinated with COVID-19 from May 1. In order to increase vaccination in the country, the Finance Ministry has also approved the supply of credit to Covid-19 vaccine manufacturers Bharat Biotech and Serum Institute of India (SII). 3,000 crores and has given a credit of Rs 1,500 crores for Bharat Biotech.
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