Govt should spend 2.5% of GDP on health sector, says FICCI panel chief

Ahead of the Budget session of parliament, Dr Harsh Mahajan, Chair of FICCI Health Services Committee and founder and chief radiologist of Mahajan Imaging and Labs, demanded government fulfil its 'promise' of spending 2.5 per cent of GDP on the healthcare sector.

Talking to ANI Mahajan said, "We would want the government fulfils its promise of spending 2.5 per cent of GDP on the healthcare sector as was promised many years ago. One has to realize that the healthcare sector also apart from taking care of the health of the public also provides many jobs. So, increasing the investment into healthcare by the government would lead to not only a healthier society but also help in achieving the target of becoming a five trillion economy."

While Raj Prakash Vyas, President - of Corporate Affairs, Cadila Pharmaceuticals said, "Pharmaceutical companies do expect steady support for research and innovation. So, we expect that the government should allocate the best of the support for the pharmaceutical company for research and innovations."

The Budget Session of Parliament will commence on July 22 and subject to exigencies of Government Business, the session may conclude on August 12.

Meanwhile, Anubha Taneja Mukherjee, Member Secretary, Thalassemia Patients Advocacy Group said, "As of now, only a few iron chelators, Deferoxamine and Deferiprone, for thalassemia patients currently fall under the 5 per cent GST slab. Even though we are incredibly grateful for a reduced GST slab on these drugs, the reduced GST slab is not considerably benefiting Thalassemia patients as there are other life-saving drugs and equipment that are needed lifelong by Thalassemia patients. These fall under a higher GST slab of 12 per cent."
 

 

"Furthermore, the recent introduction of the new tax regime has taken away the relative advantage of additional tax relief provided under Section 80U for Persons with Disability (PwD), including Thalassemia, which incur exorbitant expenditure on their treatment and are at a disadvantage in society concerning opportunities. We wish to draw attention to the need for a GST reduction or waiver as appropriate on the below-mentioned life-saving drugs and equipment related to thalassemia treatment, such that the cost of treatment is kept at a minimum. This measure would significantly ease the financial strain on thalassemia patients, ensuring uninterrupted access to essential blood transfusion treatments," he added.

On the other hand, Union Minister of Parliamentary Affairs Kiren Rijiju will hold a meeting with the floor leaders of political parties in both the houses of the Parliament, Ministry of Parliamentary Affairs said in a press release.

The All-Party Meeting will be held at 11:00 am on July 21 at the Main Committee Room, Parliament House Annexe, New Delhi.

Earlier in the day, the Halwa ceremony, marking the final stage of the budget preparation process for the full Budget of 2024-25, was held in North Block in the presence of Union Finance Minister Nirmala Sitharaman, Minister of State Pankaj Chaudhary, and secretaries. Officers and staff involved in the budget preparation and compilation process were also present on the occasion. A customary Halwa ceremony is performed every year before the "lock-in" process of the budget preparation begins.

The Halwa Ceremony is a preparation of the Indian sweet dish in a large 'kadhai' at the North Block. The Finance Minister ceremoniously stirs the 'kadhai' and generally serves the halwa to everyone involved in the Budget-making process.

This tradition is also a way to acknowledge the hard work of all the finance ministry officials. The halwa ceremony heralds the process of printing all the budget documents ahead of the presentation in Parliament.