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Budget Wishlist Calls for a 5% GDP Allocation, Rural Healthcare Boost, and Global Collaboration in Indian Healthcare Reforms
India
healthysoch
New Delhi, January 25, 2024:
Dr Azad Moopen, Founder and Chairman, Aster DM Healthcare:
“In the last Union Budget, the overall impetus for the healthcare delivery sector was missing. We are hoping that this will get addressed in the upcoming Union Budget with an increase in budget allocation to a minimum 5% of the GDP which is essential to fulfill the need gaps.
Expanding Healthcare Access:There is a need to have more hospitals and healthcare facilities in rural and suburban areas to meet the rising demand given that Ayushman Bharat is aiming to make affordable healthcare accessible for 500 million people. Hope the government will put more focus on public-private partnerships (PPP) to address this, and also permit 100% Foreign Direct Investment (FDI) in both Health Insurance and Retail Pharmacy sectors.
Medical Education and Research Reform: While the last budget announced the establishment of nursing colleges alongside medical colleges, there is an urgent need for comprehensive reform of medical education to ensure that the medical professionals of tomorrow are aligned with contemporary healthcare needs. This brings forth the need to develop medical colleges, nursing colleges and paramedical colleges in all the 500 district hospitals in the country.
The healthcare sector is evolving rapidly, and this has been fast-tracked by the pandemic and there is a significant need for the professionals of tomorrow to learn and develop as per this evolution. The revamp will also require significant investments to integrate access to technology, more practical approaches, research and innovation driven methods and qualified professionals to help shape the best minds. A substantial allocation, including the setting up of Central Medical Research and Innovation Institute in each state would be a good start. Setting up a Central Digital Health and AI University will also help deploy technological innovation in healthcare to address challenges such as accessibility and equity along with healthcare costs. Additionally, there should be a specialized university catering to NRI students intending to return to India for academic pursuits.
NRI Concessions:We were also hoping for concessions for NRIs residing abroad like reduction on TDS for those who have a source of income in India and are required to pay taxes in the country they reside in. Other considerations include affordable airline fares to SAARC and GCC countries to support the growing trade and business collaborations between the regions, along with the implementation of a health scheme for those returning to India for retirement, among other beneficial measures.”
Varun Vashisthaa, Co-founder and CEO, Doc0Sage:
The anticipated focus for the upcoming budget is centered on transformative healthcare measures. A substantial 30-35% increase in overall healthcare spending is paramount, with a specific emphasis on strengthening primary healthcare, fortifying the public health system, and investing in medical education. The focus extends to prioritizing preventive care through initiatives like physiotherapy and mental health awareness. We advocate for robust support for research, fostering collaboration among healthcare stakeholders, and embracing technology for an integrated healthcare approach.
In the financial realm, our expectations include extending health insurance to the missing middle, recognizing physiotherapy as primary care, and incentivizing healthcare infrastructure development. We stress the need for tax benefits, especially for preventive healthcare, innovative health apps, and domestic pharmaceutical manufacturing. Addressing challenges involves rationalizing GST rates, controlling drug prices, and enhancing public health preparedness. We believe a budget aligned with these principles will propel India towards accessible, affordable, and quality healthcare for all, marking a pivotal moment in our nation’s health evolution.
Overall, the health industry in India is expecting a budget that prioritizes accessible, affordable, and quality healthcare for all. Increased investment in public health infrastructure, mental health care, research, digital health, and data privacy will be crucial steps towards achieving this goal.
healthysoch
HealthySoch
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