Expectations from Union Budget India 2021: Expansion of High-quality Healthcare
Dr. G S K Velu
Chairman and Managing Director at Trivitron Group of Companies | Chairman of Neuberg Diagnostics | Chairman of Maxivision Eye Hospitals | Chairman of FICCI Tamilnadu State Council
It has been a year of major economic turmoil. The Healthcare industry was at the forefront and is now, playing an important role in the war against the pandemic. The Union Budget 2021 is going to be the most anticipated event, especially for the healthcare sector. The expectations from the budget this year is a lot higher and different.
As things stand currently, it is amply clear that the growth of the Indian economy is substantially dependent on Healthcare and diagnostics.
Given the fact, the pandemic has changed the dynamics of the healthcare industry. Allocation towards healthcare in India has been a challenge in the past and the current situation reiterates the need to increase public spending on healthcare.
In such a situation, healthcare infrastructure should be prioritized so that production of indigenous healthcare equipment and medical technologies can increase.
The budget must be designed keeping in mind the requirements of the Atma-Nirbhar Bharat. The significant allocation must be reserved to boost indigenous manufacturing & research in healthcare. Also, provisions in the union budget must focus on incentivizing local manufacturing of medical devices to give an impetus to the ‘Make in India’ initiative.
Further to this, budget 2021 can prepare feasibility gap funding (VGF) options to further attract private sector investors in Tier 2 and 3 cities by focusing on Public-Private Partnership (PPP), and strengthening indigenous manufacturing of medical devices.
India needs an efficient solution to meet the challenges of its healthcare sector, especially high public expenditure, and therapeutic technology provides the most efficient solution for this. Therapeutic technology solutions will certainly help in creating a comprehensive and integrated healthcare ecosystem in the country and will help in providing patients, access to high-quality and cost-effective care.
The budget needs to focus on the expansion of high-quality healthcare with the potential to make healthcare more affordable and accessible by using technology to reach the grassroots level.
- Dr. GSK Velu
#UnionBudget #HealthcareEcosystem #Healthcarein2021 #Budget2021
Reference: https://ehealth.eletsonline.com/2021/01/budget-2021-needs-to-be-a-booster-dose-for-healthcare-experts/
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4 年Absolutely sir. I support your proposal and expect healthcare industry experts to support as healthcare department's growth is a must post pandemic. #Budget2021 #UnionBudget