CEO’s Views: Expectations from the Union Budget Policy for Healthcare

Anand. K, Managing Director and CEO, Agilus Diagnostics Ltd

           Anand K

India’s health budget has remained abysmally low over the years and needs to be significantly enhanced to meet the rising healthcare needs of the population. The previous budget’s conditional concessional rate of 5% customs duty on drugs, medicines, diagnostic kits and equipment was a significant boost to R&D initiatives in the sector. We’re optimistic that the government will not only extend this beyond March 2025 but also consider expanding the list of items covered. Easing the cost burden by giving input tax credit for GST will aid the entire healthcare industry to reduce input costs. An official council to establish the credentials of medical lab professionals and a government-operated ‘Board of Medical Technology’ will provide career stability for science students and create new employment opportunities. This will also help build laboratory services in underserved areas. Preventive healthcare expenditure has remained considerably low even with enough evidence that mass preventive screening can bring down overall healthcare costs in the long run. Apart from the ₹5,000 tax benefit of preventive testing, there is no incentive for the common citizens to safeguard their own health.

Also Read |  Emerging Dominance: India’s Impact on Global Medical Technology

 Dr Sangita Reddy, Joint Managing Director, Apollo Hospitals Group

        Dr Sangita Reddy

We are hopeful that the government will continue to prioritize the healthcare sector. The interim budget 2024-25 in February rightly emphasized preventive care, women’s health, infrastructure expansion, and child development, marking significant strides towards a healthier future. We anticipate that the upcoming budget will maintain and strengthen this approach. The promotion of cervical cancer prevention by vaccination for girls aged 9-14 was one of the major announcements, and it represents a significant step toward improving women’s health. We hope the government will keep on supporting these programs.  Furthermore, Initiatives under programs like U-Win and Mission Indradhanush should be encouraged. Strengthening infrastructure is crucial to effectively enhance health services in rural and remote regions, ensuring equitable access to health care. Increased support is expected from the government to achieve this goal.

Deepshikha Sharma, CEO, Sharp Sight Eye Hospital

Also Read |  Life-Changing Bariatric Surgery Offers Hope to Woman Battling Multiple Health Issues
      Deepshikha Sharma

As India prepares for the Union Budget 2024-25, the healthcare sector is poised at a crucial juncture, with an urgent need for strategic investments to cater to its burgeoning demands. The focus is distinctly on three pivotal areas: infrastructure enhancement, digital integration, and comprehensive mental health support. Expanding healthcare infrastructure is paramount. Our goal should be to ensure that every citizen has access to quality healthcare, irrespective of their geographic location. This means building more hospitals and health centers in rural and suburban areas to bridge the urban-rural healthcare divide. Such expansion is not merely about buildings but also about equipping these facilities with the necessary tools and staffing them with trained healthcare professionals. This move will make healthcare more accessible and affordable, helping to alleviate the strain on existing urban centers and making a significant difference in the lives of millions. Digital health technology also deserves a spotlight in this budget. By investing in telemedicine and digital health records, we can enhance the quality of care and its reach. The integration of digital tools in the healthcare system can transform patient care, making health management more efficient and effective. It enables doctors to access complete medical histories swiftly, improves diagnostic accuracy, and facilitates remote care, which is invaluable in areas where medical expertise is scarce. Moreover, mental health needs to be a significant focus. The recent global health crises have underscored the critical need for robust mental health support systems. Funding should be allocated not just for treatment facilities but also for preventive care, including awareness campaigns and community outreach programs. This approach would help in destigmatizing mental health issues and making necessary services more accessible to the broader population. The Union Budget 2024-25 presents a unique opportunity to lay a foundation for a future-ready healthcare system. Investments in healthcare infrastructure, digital health, and mental health services are not just fiscal allocations but are investments in the well-being and productivity of the nation’s populace. These measures will ensure a healthier, more resilient India, ready to face the challenges of tomorrow.    

Also Read |  Plasmagen Biosciences Launches Haemocomplettan® P to Address Massive Bleeding in Surgeries