India need to invest more on healthcare, says Deepak Parekh

Parekh Lauds government for doubling the investment into healthcare

India remains as a nation that has consistently under invested in human and social sectors and the country need to spend more on healthcare, especially in building stronger children as assets for the future of the nation as demographic profile is the greatest strength of its promising future, said Deepak Parekh, Chairman of Housing Development Finance Corporation (HDFC).

With over 40 per cent of the population is below the age of 18 years, it signifies that India will have the youngest workforce in the world, at the time when other major economies are facing exactly the opposite, of a rapidly ageing society.

"We must invest in building stronger children as assets for the future of our nation," he said after inaugurating the new facilities funded by various institutions, in the Kanchi Kamakoti Childs Trust Hospital, Chennai.

"Ironically, our country's core strengths continues to be a largely neglected. India remains a nation that has consistently under invested in the human and social sectors, which has consequently led to a low rankings year on year in the Human Development Index (HDI). India is 130 out of 188 countries," he said.

The country has highest number of infant and child death, under the age of five years, estimated to be 1.2 million a year, in 2015. The government's spend on healthcare is among the lowest in the world, at 1.3 per cent of the GDP. It was good to read that the current government is going to double this investment from 1.6 to 2.5 per cent in the coming years. World Health Organisation ranks India as 112th out of 180 countries on availability of healthcare to all.

The government's spend on healthcare is among the lowest in the world, at 1.3 per cent of the GDP. It was good to read that the current government is going to double this investment from 1.6 to 2.5 per cent in the coming years.

He added that the acute shortage of quality peadiatricians there, which is currently both scarce and inequitable, in catering to the medical needs of this large segment of child population is another issue. Also, lack of correct diagnosis and treatment is an issue in several rural and tribal locations across India, he said. New treatment options are available now and HDFC and HD Parekh Foundation are working with various organisations to bring healthcare to the needed, he added.