Health care industry contributes up to 6% of India's GDP. The Modi government 1.0 tenure had focused on providing affordable and accessible healthcare facilities to the citizens of India. Continuing their focus on growth and development of healthcare, here are some expectations from Modi 2.0 government in the sector in the upcoming 2019-20 Union Budget.
1. Infrastructural development through PPP model
The government could focus on investing in new-age companies and focus on ground level work so that people could get timely treatment nearby. To meet the accessibility and affordability of healthcare to all, the government could focus on infrastructural development in the healthcare sector through public-private partnership (PPP) model.
2. Expansion in flagship scheme - 'Ayushman Bharat'
In order to expand the scope of the government's flagship scheme - Ayushman Bharat, more allocation of funds could be seen in the Union Budget 2019-20.
3. Changes in tax for manufacturing medical equipment domestically
As per a report by CARE Ratings, the budget is also likely to see some favourable changes in taxes for manufacturing of medical equipment to encourage domestic production under the Make in India campaign.
4. Approval of E-pharmacy rules
If the approval of E-pharmacy rules come, it would be a huge boon to the medical industry and citizens as there would be the availability of medicines all across the country. This would add to the affordable and accessible health care programme of the Modi government.
5. Increase incentives in preventive care and diagnostics
To prevent the diseases and to enable people to diagnose diseases, the government could focus on increasing incentives including tax breaks in preventive testing. Also, strong implementation programmes like Polio vaccination are needed to combat and eradicate diseases like Hepatitis, Chicken Pox etc.
With inputs from Financial Express