The prices of essential drugs will be increased by a maximum of 14% while other lower-priced drugs would be allowed a maximum of 20% increas in prices.

A notification issued by DRAP on Friday said that the prices were being increased as a ‘a one-time dispensation’ equal to the 70% increase in the consumer price index.

However, the notification said that the price increase would be considered the annual increase for the fiscal year 2023-24.

“No increase under this category shall be granted in next financial year,” it said.

The notification also says that the a review of the prices will be undertaken in July and prices will be decreased if the value of the rupee has improved by then.

The price increase had already been improved by the Economic Advisory Committee.

With rising fuel prices and a depreciating rupee, inflation has been record-high in recent months leading to an impact on all sectors of the economy. However, with eht IMF bailout nowhere in sight, the economy’s troubles are far from over.