Pharma sector growth hits 4-year low in FY18 |ForumIAS

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According to the 54th Parliamentary Standing Committee on Chemical and Fertilizers (2018-19), the growth of pharmaceutical sector has recorded a four-year low in 2017-18. The percentage increase in annual turnover has been only 3.03% as compared to 29.01% in 2014-15.
However, the Department of Pharmaceuticals has advocated that though % increase has declined, the annual turnover increased continuously. Experts from the pharma sector have cited GST and demonetisation as reasons for poor market growth of the sector.