Union Government budgetary allocations for the healthcare sector for the past few years have been very encouraging to boost the growth of the industry, as healthcare is one of the fast growing sectors in India which is contributing for the healthy improvement in GDP of the country a lot. However there are certain challenges which needed designated focus in the budget.
We urge the Union Govt to look at budgetary allocations in the following crucial areas in the upcoming Union Budget 2020
1) Government should focus on creating healthcare infrastructure and invest extensively in upgrading primary and secondary healthcare services in tier I-II cities in the country. This can leverage the indigenous medical technologies developed specifically for Indian healthcare needs, and thereby support the Make in India initiative.
2) In spite of clearing regulatory hurdles related to the import–export of medical devices, this sector requires special diligence in the budget. The medical devices sector is growing at a faster pace in the country requires special attention to come out of 70% import dependency through buy India policies
3) Budgetary allocation should be enhanced on primary health and on establishing health and wellness centres (announced under Ayushman Bharat) which will help to reduce the disease burden.
4) Government should provide support to local manufacturing units in terms of preferred interest rates and priority sector lending.
5) Rationalise GST rates for health sector.
6) Medical Devices manufactured in India should be given preference in Government Purchases
A well thought out additional budget allocation is necessary for Healthcare Segment to improve the wellbeing of every citizen of India leading to Universal Quality Healthcare for all soon.
