The healthcare and diagnostics sector is expecting some big allocations in the upcoming Union Budget to be presented by Finance Minister Nirmala Sitharaman on February 1, 2022. Health has become of prime importance during the ongoing COVID-19 pandemic. In 2020, the pandemic exposed several shortcomings in the existing health care infrastructure. However, since then the government has introduced various reforms to address the issues. Under the current situation of the third wave of coronavirus, this year also the health sector is expecting strong investment in healthcare to improve the critical people.
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What the Health Sector Expects from Budget 2022 The government has launched several initiatives in the last two years to meet the healthcare infrastructure requirements in the country.
As the third wave has already entered and made everyone realize the importance of a strong healthcare ecosystem, we probably need focused investment and more awareness about lifestyle diseases for the betterment of the people. Therefore, investment is expected from the government. To develop resources that enable monitoring of diseases related to the lifestyle of the population.
There is a demand for a separate budget allocation for Indian startups, which venture into intensive technologies for promotion of holistic solutions to lifestyle ailments.
The industry expects the R&D process to continue in a big way, which demands appropriate financial support which needs to be met by the government. The industry has received great support from the government for supporting the startup ecosystem. So as the way forward, we are looking forward to more support and encouragement to match the global industry standard and cater to the common people according to their needs and requirements.
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Meanwhile, in the Union Budget 2021-22, the total public health sector allocation was 1.2 per cent of the gross domestic product (GDP). The country needs to increase public health spending to 2.5 – 3.5 percent of GDP to support healthcare transformation.