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LOK SABHA
The Government have exempted from custom duty all the drugs appearing in List 4 of Custom Notification No.21/2002 dated 1.3.2002, as amended. These drugs have also been exempted from excise duty vide Excise Notification No.6/2002 dated 1/3/2002, as amended.
The 74 bulk drugs specified in the First Schedule of the Drugs(Prices Control) Order, 1995(DPCO, 95) and the formulations based thereon are under price control and their prices are fixed/revised by the National Pharmaceutical Pricing Authority(NPPA) in accordance with the provisions of the DPCO, 95.
Price of non-scheduled formulations are fixed by the manufacturers themselves keeping in view the various factors like cost of production, marketing/selling expenses, R&D expenses, trade commission, market competition, product innovation, product quality etc. The Government takes corrective measures where the public interest is found to be adversely affected.
This information was given by the Minister of Chemicals & Fertilisers and Steel, Shri Ram Vilas Paswan in written reply to a question in Lok Sabha today.
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