admin
Budget Reaction quotes:
India’s economic growth is amongst the highest in the world
India
healthysoch
New Delhi, February 01, 2023;
Commenting on the Union Budget 2023-24, Dr. Prathap C Reddy, Founder Chairman, Apollo Hospitals Group said, “Caring for the wellbeing of citizens is integral to nation building, India stands tall for putting people first, and this Union Budget, the first in the Amrit Kaal, resonates with this ethos. India’s economic growth is amongst the highest in the world and a defining edge is the youthful demography. Therefore, the impetus on skilling is noteworthy. Also, it is heartening that 157 new nursing colleges will be established as it will contribute to improving the nurse-patient ratio, a step in the right direction towards Universal Health Coverage. It is also a right step towards India building a global workforce, to serve the world.
Our nation’s digital infrastructure helped us ably manage the biggest crisis of the era – the COVID-19 pandemic. Now, the establishment of centres of excellence for Artificial Intelligence will work to add much greater impetus to India’s digitization focus. Likewise, the 100 labs that will be setup for developing apps using 5G services across sectors including healthcare, will be beneficial in accelerating access to care, for all our citizens. Similarly, India’s leadership in decarbonisation and its resolute determination towards it net zero commitment, will be a model for the world to emulate.
A key determinant of good health emanates from the food we consume. Hence in that direction, the Atmanirbhar Clean Plant Programme to improve the availability of disease-free, quality planting material for high-value horticultural crops, and the emphasis on millets will work to enhance overall quality standards and also contribute to lowering the lifestyle diseases burden. Nevertheless, it is vital that India remains watchful of the growing prevalence of non-communicable disease (NCDs). A pro-health focus holds the key to thwarting a massive impending societal and economic crisis. Therefore, the entire Apollo Hospitals group is committed to tackling the menace of NCDs by working with the Government in encouraging a culture of preventive healthcare and building a healthier and happier India. At large, this budget reflects the fact that nurturing health holds the keys to good health, happiness and wealth.
Reacting to Budget , Dr Ajay Swaroop , Chairman (Board of Management ), Sir Ganga Ram Hospital said, ” This year’s budget is really good. We are very pleased that this year allocation of funds for health care has been increased in this year’s budget . Start of 157 nursing colleges will help in shortening gap in students for nursing care , also intiative to eliminate Sickle Cell Anemia is a welcome step .
It would have been nice if some incentive would have been given to charitable hospitals like us who have been doing real charity work for last 5 decades. Also some focus on funding and incentive for doing telemedicine and research in remote areas would have been a welcome step.”
Saransh Chaudhary, President, Global Critical Care, Venus Remedies Ltd, said, “The decision to come up with a new agenda to promote research and innovation in the pharmaceutical space through centres of excellence is a step in the right direction. We also welcome the move to make facilities of Indian Council of Medical Research labs available for private sector R&D as it will boost collaborative research and pave the way for advanced medical facilities. If backed by favourable incentives and concessions, these Budget announcements will encourage pharma companies to invest more in R&D through private-public collaborations. We hope the proposed blueprint for pharmaceutical research serves as the impetus to propel India to the top as a global pharma superpower through value creation based on cutting-edge research.”
Commenting on the Union Budget 2023-24, Dheeraj Jain, Founder & MD, Redcliffe Labs, said, “The increased emphasis on AI research and development is unquestionably a step in the right direction. It will help create sustainable healthcare solutions. This will eventually benefit the public at large. As stated by the FM, leading industry players will collaborate with renowned educational institutions to establish three Artificial Intelligence (AI) Centers of Excellence, conduct interdisciplinary research, create cutting-edge applications, and find scalable solutions to problems in the fields of health, agriculture, and sustainable systems.
There is also a focus on increasing skilled medical manpower, which is very much needed to address the issue of nurses in hospitals and healthcare institutions, especially in Tier 2/3/4 cities. Also, medical research, education, and innovation, which have been prioritised in budget 2023, will aid in overcoming barriers to healthcare in the public sector. Alongside the 157 medical colleges that have already been operating since 2014, 157 new nursing colleges will also be established.
The industry will also be encouraged to make research investments as part of a new programme for pharmaceutical research that will be developed. Also, public and commercial medical facilities will make facilities at a few of the ICMR’s labs available for study.
The budget also emphasises the importance of accelerating the development of new technology and solutions. Leading business players will collaborate to perform interdisciplinary research, create cutting-edge apps, and find scalable solutions to issues in the fields of sustainable cities, agriculture, and health. The efforts of the government is commendable, as 102 crore people received 220 crore COVID vaccinations. In addition, the government has set a goal of eradicating sickle-cell disease by 2047.”
Dr Alok Khullar, CEO, Gleneagles Global Health City, Chennai , said, “We are delighted to note that the budget session was introduced with the announcement of increase in allocation for Research in the healthcare sector including Pharma, Clinical Research and Public-Private partnership in Healthcare Research. The government’s initiatives to encourage Research and Development in Healthcare is a much-needed move. The collaborative set up of Research and Innovation Centre and the facilities in select ICMR Labs made available for research by public and private medical college faculty and private sector is commendable. Setting-up of more nursing colleges is a welcome move to generate adequate Nursing workforce every year. Introduction of courses for medical devices will fill a significant gap in the industry.”
Bharath Balasubramaniam, President Operations, Sankara Eye Foundation India, said, “Union Budget 2023 has certainly reaffirmed the government’s commitment to give utmost priority to the healthcare sector which is the need of the hour. The special impetus given on Research & Development was much needed to encourage more quality research and nurture innovation. This will also enhance the momentum of public private collaboration in healthcare. The focus on health infra in rural areas will certainly bring the entire network of digitisation under one umbrella. However, for not-for-profit hospitals we were hoping for a better outcome from the budget in the form of taxation benefits and operating incentives. The decision on adding 157 new nursing colleges will improve the nurse-patient ratio.”
Reacting to Budget Shamsher Dewan, Senior Vice President & Group Head – Corporate Ratings, ICRA Limited, said, “The budgetary allocation of Rs. 891.6 billion for the healthcare sector for FY2024 translates to 12.6% YoY growth compared to the RE for FY2023. The roll-out of new programmes to promote R&D in the sector through centers of excellence and select ICMR lab facilities being made available for medical colleges and the private sector is a progressive step towards improving public-private partnerships and thus overall thrust on R&D. Further, setting up of new nursing colleges, and introduction of multi-disciplinary courses for medical devices is expected to increase the availability of skilled manpower in the healthcare and medical devices sectors. This is a welcome step given the severe shortage of skilled manpower in India as compared to the global average and other developing nations.
Overall, the budget aims at increasing spending on the sector, improving universal health coverage, promoting R&D, and increasing skilled manpower, which is a positive. That said, continuing modest allocation towards the healthcare sector leaves India’s healthcare spend as a percentage of GDP well below the world average and other developing and developed nations.”
healthysoch
HealthySoch
