The Prime Minister's Economic Advisory Council has suggested a complex combination of three pricing models to fix retail prices of 348 essential drugs to balance industry's concerns and public health. The proposal, however, has drawn the ire of drug makers who say it is a watered down version of the health ministry's proposals. The council has proposed that for medicines facing "insufficient competition" or a monopoly-like situation, the retail price should...
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Oil firms’ losses on fuel sales may spike next fiscal-Utpal Bhaskar
Government-owned oil marketing companies (OMCs) may witness a 52% jump in losses on account of selling fuel below cost at state-mandated prices to Rs.2 trillion in the next financial year, said R.S. Butola, chairman, Indian Oil Corp. Ltd (IOC), the nation’s largest fuel retailer. Such an increase will impact the financials of government-owned OMCs such as IOC, Hindustan Petroleum Corp. Ltd (HPCL) and Bharat Petroleum Corp. Ltd (BPCL), which currently register...
More »AIDAN proposes another pricing model for essential drugs by Khomba Singh
A non-government organisation campaigning for cheaper essential drugs has proposed an alternative pricing model that seeks to fix retail prices at the average price of all brands in a segment. The proposal of the All India Drug Action Network (AIDAN) is being examined by the department of pharmaceuticals (DoP), an official said. AIDAN says its new pricing mechanism, which excludes brands that account for the top 20% by sales, will make...
More »Govt seeks to link urea prices to cost of fuel by Aman Malik
In a move that could hurt millions of farmers, the government plans to increase the price of urea and link it to the price of gas in an attempt to reduce its burgeoning fertilizer subsidy bill. Urea is the only fertilizer that has a maximum retail price (MRP) still controlled by the government, which deregulated those of all others in April 2010. Urea sells in the market at Rs.5,310 per tonne,...
More »Rural India loses steam: Demand for tractors, agriculture machinery, durables decline as income falls, prices rise
-The Economic Times In 2007, 27-year-old Kaushalendra from Bihar shunned the placement frenzy, which would see many of his colleagues earn fat salaries, in favour of a more homespun alternative: Selling fresh vegetables on a push cart to residents of his hometown Nalanda. Putting together whatever money he had, Kaushalendra began the venture in 2008 and soon started doing well. People didn't mind paying a little more if they saw value in...
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