Kerala mulls tax concession for Ayurvedic medicines | SupportBiz

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Kerala mulls tax concession for Ayurvedic medicines

India, Sri Lanka to sign MoU on traditional medicines.

Kerala Chief Minister Oommen Chandy said this week his government is mulling the prospect of introducing a tax concession on Ayurvedic medicines, according to an IANS report published in

Several other steps to promote Ayurveda are also under consideration. Chandy was speaking at the Global Ayurveda Festival, 2012, in the State. Also present at the event was R S Jayawardane, the General Manager of Sri Lanka's Ayurvedic Drug Manufacturing Corporation. "India and Sri Lanka are to sign a MoU (memorandum of understanding) on traditional medicines," he said.

Chandy said his government has selected seven fields of Ayurveda, to work towards their development. Sam Pitroda, Adviser to India's Prime Minister on public infrastructure, information and innovations, has promised to lend his support to this cause. "The scarcity of medicinal plants in the state has been one of the biggest threats that Ayurveda faces. Our earlier government had enacted a law to help increase planting of herbal plants. This law will come into force as soon as possible," stated Chandy.

V.S. Rajashekaran Pillai, the former chief of the Indira Gandhi National Open University (IGNOU), stressed the need for plans to protect and encourage the plantation of medicinal plants. ‘Another important programme in connection with ayurveda is the purification of water through ayurvedic methods,’ he said.