Union Budget 2024: Expected to address healthcare, quality

Union Budget 2024: This budget is expected to address affordability, accessibility, and quality of healthcare in India. We will have to wait till the official announcement on July 23 to see the specific measures outlined by Finance Minister Nirmala Sitharaman. The Indian healthcare sector has high expectations from the upcoming Budget 2024. Industry leaders are urging the government to increase allocations for healthcare. This will give a huge boost to public health initiatives, infrastructure development, and medical research resources. Experts expect tax incentives to be announced. This could include tax breaks for healthcare providers or insurance companies to make healthcare more affordable.

P N Arora, Chairman, Yashoda Super Speciality Hospitals Kaushambi, said, “An important aspect of healthcare demands revolves around accessibility and affordability. The sector advocates for subsidized or free health checkups, especially for women and children, aimed at improving preventive care and early detection of diseases.” In addition, there is an emphasis on incentives and support for domestic manufacturing of medical devices to reduce dependence on imports and align with the ‘Make in India’ campaign, Arora said. Non-communicable diseases (NCDs) such as diabetes, heart disease and cancer are a major health concern in India. There is a need for increased budget allocation for prevention, treatment and management of NCDs, including research, public awareness campaigns and making treatment options more accessible. Retraining healthcare personnel Arora highlighted that the sector also emphasizes the importance of training and retraining healthcare personnel to meet the evolving healthcare demands with new technologies. Regarding health insurance, Arora said stakeholders are demanding fiscal reforms to create a more inclusive and sustainable health coverage model. This includes revisiting GST tariffs on healthcare services and products to ensure affordability and access across all socio-economic segments. Additionally, there is a demand for insurance coverage for preventive healthcare measures, not just reactive medical treatments, Arora said.

Benefits of increasing healthcare budget
Jasdeep Singh, group CEO of Care Hospitals Group, also urged the government to consider increasing the budget for the healthcare industry. “Increasing budget allocation can improve access and affordability not only in tier I cities but also in tier II and III cities. Making taxes simple and fair, especially GST reforms, can contribute to this goal,” Singh said.

Improving infrastructure
Singh believes there is a great need to focus on hospital infrastructure. Singh said, “While hospitals provided essential and high-quality treatment during the pandemic, the current circumstances underscored the lack of facilities, particularly in non-metro cities, lack of beds and treatment options. As a result, the government must prioritise enhancing infrastructure, especially in non-metro areas, to ensure that individuals can easily access healthcare when required.” Door-to-door eye screening initiative Rajat Goel, Co-founder and CEO, IQ Super Speciality Eye Hospitals, said, “With 62 million visually impaired individuals and 8 million blind people, India bears nearly a quarter of the world’s burden of blindness and visual impairment. We eagerly await the upcoming Budget 2024-25, hoping to have transformative policies to address these pressing issues.” Goel strongly advocated for a large-scale door-to-door eye screening initiative essential for early detection and treatment. In addition, the backlog of eye surgeries has increased further due to the COVID-19 pandemic, which must be addressed urgently, especially in rural areas where access to healthcare is limited.

Infrastructure boost

“We also expect infrastructure boost that will enhance the capacity of eye care facilities across the country. In addition, support for research and development is crucial to advance innovative treatments and technologies in eye care,” Goyal said. Reducing GST and other import taxes on medical devices and supplies will significantly reduce costs, making eye care more accessible and affordable. With these measures, “we believe the budget can pave the way for a brighter, clearer future for millions of individuals, ensuring that quality eye care is within reach of all.” Emergency services Pranav Bajaj, CEO of Medulance, said, “The budget is a key opportunity to strengthen India’s emergency services. We urge the government to make strategic investments in these areas.”