The Union Budget for the year 2014-15 has been released and as per the reactions we have come across, not everyone likes the Finance Minister's plans for the country. While he has raised the excise duty on cigarettes, tobacco, gutka, pan masala and colas (making them dearer to its consumers) he has also taken a step towards empowering women, sensitizing the society towards their plight and ensuring their safety. But when it comes to the health care sector, has the Fin Min really satiated the industry stalwarts? Well, here is a comparison between their expectations and what really panned out.
What they wanted:
One of the most striking and urgent needs, that was projected by the CEO of NephroPlus was that the Finance Minister should levy a 10-year tax holiday on all healthcare delivery companies; including those present in rural areas.
Another item on entrepreneur's wish list was increased public private partnership in healthcare leading to a reduction in the cost of overall pathology and diagnostic testing.
Apart from that they wished that the budget would encourage angel investors to fund start-ups (by making these investments tax free); and also allow start-ups more liberal funding from banks.
And finally a 'Government of India Healthcare Portal', which would allow citizens to access information on any health related issues.
Unfortunately the Finance Minsiter seems to have forgotten the healthcare sector. He not only ignored the need in India for a solid healthcare system, but has tried to do a half-hearted job of including the aspect into the budget.
According to Mr Amol Naikawadi, JMD, Indus Health Plus, 'Overall, the health market players may not be too happy since there isn't any major reform announced for the entire health industry. We were looking at promotion of local medical devises in the industry to bring the cost of healthcare industry down. But it seems like we have failed to make our government realise that it is important to address the health issues. Various lifestyle/ non communicable/ communicable disease are quickly taking toll on people and this is affecting the nation's health and productivity as well. Because of this situation, employment generation too may get affected.'
For more articles on the Union Budget 2014-15, check out our Union Budget 2014-15 section. Follow us on Facebook and Twitter for all the latest updates! For daily free health tips, sign up for our newsletter. And to join discussions on health topics of your choice, visit our forum.
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