Increase budget allocation in healthcare: Lambda Life Sciences
New Delhi: Health tech start-up Lambda Life Sciences urged the government to provide investment support and increased allocation in the healthcare sector in the forthcoming Budget.
Lambda Life Sciences founder Kunjan Arora said the company is looking forward to the Union Budget.
"There is a pressing need to build and upgrade healthcare infrastructure and services. I expect increased budget allocation in the healthcare sector," Arora said in a statement.
He said that investment support from government is the need of the hour to boost the growth of the sector.
There is also a need to create the right ecosystem for investment in health-tech domain and for that government can consider cutting tariffs on imports of machines and technology in this budget, he added.
"In the healthcare industry, India imports about 75 percent of its total requirements of medical devices," he said.
Lambda Lifesciences has come up with a cigarette filter technology named-ZIPAC. It arrests harmful substances present in the tar phase of cigarette smoke.