Budget 2024: What does the healthcare sector expect from FM Sitharaman?

Union Budget 2024: Finance Minister Nirmala Sitharaman is set to present the Budget in the Lok Sabha on July 23

Industry players reportedly want the government to increase healthcare spending to 3 per cent of GDP from the current about 2 per cent as Finance Minister Nirmala Sitharaman gears up to table the Union Budget 2024, according to a report by CNBC-TV18.

In the Interim Budget, FM Sitharaman had allocated Rs 90,171 crore for healthcare in 2024-25, marking an increase from the previous year’s allocation of Rs 79,221 crore.

The healthcare sector expects increased funding towards preventive healthcare programmes, aimed at lowering disease prevalence and enhancing overall public health results, the report said.

The healthcare sector is looking to expand the reach of health insurance programmes such as Ayushman Bharat to include additional households, offering economic protection from healthcare costs, the report stated.

The industry is looking for further incorporation of technology into healthcare services, focusing on telemedicine, digital health records, and remote monitoring to improve service delivery and accessibility, the report said.

With the Union Budget scheduled to be presented in the Lok Sabha on July 23, the healthcare industry is looking for ways to address the shortage of healthcare professionals through training programmes, expanding recruitment efforts, and enhancing working conditions, the report further said.

Interim Budget 2024

In the interim Budget, the finance minister had launched a new initiative to promote cervical cancer vaccination among girls aged 9-14, with the goal of lowering the occurrence of this preventable disease.

The allocation under Ayushman Bharat Pradhan Mantri Jan Arogya Yojana was also raised from Rs 7,200 crore in 2023-24 to Rs 7,500 crore in 2024-25.

The finance minister also launched the Unorganised Worker Identification Number (U-WIN) platform, aimed at improving the management of immunisation efforts and support ‘Mission Indradhanush’, which aims to streamline vaccine distribution and ensure real-time tracking of data.

The allocation for biotechnology research and development was also increased from Rs 500 crore in 2023-24 to Rs 1,100 crore in 2024-25.