New Delhi: A day after Prime Minister Narendra Modi assured the nation from the ramparts of the Red Fort on the occasion of India's 71st Independence Day of bringing down the prices of knee surgery, Union Minister for Chemicals and Fertilisers Ananth Kumar said National Pharmaceutical Pricing Authority (NPPA) has fixed the selling price of knee implants from Rs 54,000 to Rs 1.14 lakh, depending on the type of transplant, which means nearly 70 per cent lower than most of the surgery costs.

However, the Goods and Services Tax (GST) will be added.

"After cardiac stents, we have now decided to bring knee implants under price control," Ananth Kumar said, while addressing the press conference.

The price for the chromium Cobalt knee implants that rule about 80 per cent of the market share is now fixed at Rs 54,720, which is currently available for between Rs 1 lakh and Rs 1.5 lakh, while the Titanium alloy will now cost Rs 67,110 that were earlier available for about Rs 2 lakh to Rs 2.5 lakh.

The NPPA has also formed different slabs based on the implant material and the part of knee that needs to be replaced.

The cancer patients, who need an implant, will now have to pay Rs 1,13,950 for specialised implants. The earlier cost was Rs 5 lakh and above.

Kumar further stated that the government will take a stringent action against hospitals, importers, and retailers if they charge in excess of the MRP.

"The government will take a stringent action against hospitals, importers, and retailers, if they charge in excess of the MRP. The government will not be a mute spectator to illegal and unethical profiteering," he added.