National Pharmaceutical Pricing Authority (NPPA) under the Department of Pharmaceuticals annually revises the ceiling prices of scheduled medicines on the basis of Wholesale Price Index (WPI). The scheduled medicines included in the Schedule-I of the DPCO, 2013 are essential medicines. During the calendar year 2023 over the corresponding period in 2022, the annual change in WPI with base year 2011-12 was (+) 0.00551% as per data published by Department for Promotion of Industry and Internal Trade (DPIIT). Accordingly, the Authority in its meeting held on 20.03.2024 has approved the WPI increase @ (+) 0.00551% for the scheduled medicines.
Some media reports have highlighted that medicine prices will witness a significant hike by up to 12% from April, 2024. These reports further claim that more than 500 medicines will be affected by this increase in price. Such reports are false, misleading and malicious.
