Recommendations — Union Budget 2024-25

NATHEALTH
NATHEALTH-Healthcare Federation of India has submitted a visionary blueprint designed to transform the country’s healthcare system in line with the Health for All agenda and the goal of achieving a Viksit Bharat by 2047. It has called on the government to implement transformative measures that focus on strengthening healthcare infrastructure and making strategic investments to address both demand and supply-side challenges, while raising the public health expenditure to above 2.5 percent GDP.

NATHEALTH emphasized on increasing PMJAY/CGHS acceptability of the scheme among frontline quality providers in private sector, unlocking private capital to achieve Universal Health Coverage (UHC), easing compliance under ease of doing business using digital tools, and promoting the Medtech & supply value chain eco system to innovation and localization. With India becoming a preferred choice globally, policies to promote India as a preferred destination full stack of medical product, services & solution is the need of the hour. NATHEALTH further advocated for rationalizing GST with a uniform 5% rate slab for healthcare and full input tax credit eligibility, addressing the issue of unused MAT credits, and reviewing health cess policies for MedTech to ensure affordability. Additionally, NATHEALTH recommended declaring healthcare a National Priority status to facilitate better financing and offering tax incentives to encourage private sector investment in healthcare infrastructure, manufacturing, digital health, exports and education across India at par with SEZ policies available across other sunshine sectors.

Abhay Soi, President, NATHEALTH and Chairman & Managing Director, Max Healthcare Institute Limited, said, “India has made significant strides toward becoming a global healthcare powerhouse and this has substantially contributed to GDP and job creation. As the nation progresses toward achieving a USD 5 trillion economy, providing quality healthcare for the entire population is a pre-requisite. Addressing healthcare challenges will require an estimated 2 billion square feet of advanced healthcare infrastructure. To meet these needs, increasing GDP spending on healthcare to 2.5% is crucial for enhancing social insurance, expanding facilities in tier 2 and 3 cities, and advancing digital health services.

The upcoming budget must focus on healthcare infrastructure, innovation, skill development for medical professionals, and strengthening public-private partnerships to ensure improved access and quality across the nation. Prioritizing research and development will drive medical innovation and address emerging health challenges.”

Suresh Vazirani
Founder Chairman,
Erba-Transasia International Group of Companies

The Indian medical devices sector is expected to grow by 14-15% from FY23-26E, buoyed by a higher investment in health care by Central Govt as well as the state governments and the private sector. Medical devices play a critical role in healthcare, including wellness testing, disease prevention and detection and disease cure.

However it is a matter of grave concern that while India has landed on the moon, India has been since last 75 years, continuing to import more that 75% of its requirements of medical devices and is 100% dependent on overseas manufacturers for its needs of most of the high tech medical devices.

This is neither good for our people who can ill afford high cost imported medical devices nor is it good for our Rashtra Sanman. It is high time our Honorable Prime Minister launches a great “Atma Nirbhar Bharat Mission” for reducing import dependence to 50% in next 10 years.

Indian medical device manufacturers are confident of boosting Make in India if the Government of India supports the industry with following policies for next 10 years:

1. GST : While maintaining the current total GST rate of 18% on imports, the general rate of GST on all Make in India medical devices should be reduced to 5%. This would make it a level playing field for Indian manufacturers who suffer several higher costs as compared to overseas manufacturers.
2. PLI scheme: A PLI incentive of 7% should be extended to each and every medical device produced in India over next 10 years.
3. Tax incentives for R&D: India can not become a successful manufacturer of medical devices if it does not develop the advanced technologies for medical devices. Encouraging research and development through weighted tax deductions of 200% would spur innovation within the medical device sector.
4. Inverted duty structure: it is unfortunate that inspite of industry’s crying hoarse over this unjustified penalty for Indian manufacturers, this colonial era injustice has not been corrected.

By implementing the above mentioned doable measures, the Government of India can be successful in :

1. Revolutionising the medical devices production and making Atma Nirbhar Bharat in just 10 years in the crucial sector of medical devices.
2. Create over 1 crore jobs for engineers , doctors and technicians
3. Reducing the cost of medical treatment not only in India but also in over 150 developing countries of the world benefitting over 5 Billion people.
4. Create a totally new and large medical tourism sector for treating patients not only from developing countries but also from developed countries in Europe and America who just do not have adequate trained manpower for health care. Medical Tourism has the potential to add over 1% to India’s GDP in 10 years.
5. Fulfilling its commitment to a more affordable and robust healthcare system for all Indians.

Himanshu Baid
Managing Director,
Poly Medicure Ltd.

“As anticipation builds for the Union Budget 2024, the healthcare and medical device sectors in India are poised with optimism and expectation. These sectors have proven pivotal, highlighting the critical need for robust support and strategic investments.

Innovation stands at the forefront of our expectations. The medical device industry thrives on innovation, driving advancements that improve patient care and operational efficiencies. We look to the government to introduce policies that foster a culture of innovation, including fresh incentives for research and development, and support for startups and innovators.

Skill development is another crucial area requiring attention. Investing in training programs tailored to the medical device industry will ensure a skilled workforce capable of meeting the sector’s evolving demands.

GST rationalization is a long-standing expectation of the medical device sector. Simplifying the GST structure to a uniform 12% across all categories will not only enhance affordability in healthcare but also strengthen domestic manufacturing.

Consolidating regulatory approvals into a unified platform will also help to accelerate the introduction of innovative medical devices to market.

Preventive healthcare deserves heightened focus in the upcoming budget. Initiatives that promote preventive care through incentives for diagnostic devices, health screenings, and wellness programs will contribute to a healthier population and reduce the burden on the healthcare system in the long run.

Furthermore, enhancing healthcare infrastructure and digital health initiatives are critical components of a comprehensive healthcare strategy. Investments in telemedicine, electronic health records, and digital platforms will improve healthcare access and efficiency, particularly in remote and underserved areas.

As we await the budget announcement, we are optimistic that the government will prioritize these key areas to propel the healthcare and medical device sectors forward. By fostering innovation, investing in skill development, rationalizing GST, and promoting preventive care, India can pave the way for a healthier and more resilient future.”

Jatin Mahajan
Secretary – Association of Diagnostic Manufacturers of India (ADMI)

The Medical Devices Industry is currently making headlines and demonstrating remarkable growth. With 2023 revenues at about ₹1,04,760 crores (US$12.8 billion), India is one of the leading MedTech markets and is likely to reach US$ 50 billion by the year 2030 with a CAGR of 16.4 %. This demonstrates that the potential for medical devices in India is enormous.

Developments in 2023 have been very encouraging for Indian MedTech, with developments like National Medical Devices Policy 2023 (NMDP 2023), National Policy on Research and Development and Innovation in the Pharma-MedTech Sector in India, Scheme for Promotion of Research and Innovation in the Pharma MedTech Sector (PRIP), increased investments in the medical devices sector and the establishment of various medical device parks across the country. These are great initiatives, and we await their positive impact on the medical devices industry.

India Brand Equity Foundation (IBEF) puts India’s share in the overall medical devices market at just about 1.65%, putting India at 4th place in Asia after Japan, China, and South Korea, and amongst the top 20 globally.

We are hopeful that the Indian Government will continue to support and encourage this growth trajectory through adequate and timely policy interventions.

The most critical aspect is exports-imports. Medical devices export from India stood at ₹19,803 crore (US$ 2.40 billion) in 2022, and likely to reach US$10 billion by 2025 (IBEF).

The Government constituted the Export Promotion Council for Medical Devices in 2023. This body must be strengthened to address the industry’s export issues adequately. EPC-MD can accelerate international growth and must be empowered and fast-paced. The Commerce Ministry’s task force to address the exporters’ woes of all exporters will hopefully also examine the MedTech exporters’ woes and address their trade and technical barriers. A clear-cut path needs to be chalked out. We would certainly like to be addressed in budget 2024.

Government’s decision in 2023 to allow imports of refurbished medical devices contravenes the National Medical Device Policy 2023, and opens the ground for the large-scale dumping of older technology and electronic waste from other countries. This is against the spirit of Atma Nirbhar Bharat and Make in India. It will stifle many Indian companies looking to develop low-cost, high-tech, innovative new-age solutions. This should be disallowed, except in critical cases where Indian solutions may not be available for the next few years.

Quality standardisation is a vital aspect hampering the overseas growth of Indian medical device companies. There is a need to bring in rationalisation. The Government must ensure that Indian standards like ICMED and BIS enjoy the same respect, credibility, parity and acceptance as international standards like ISO, FDA, CE, MDR and AIMD. Without an ‘at-par’ status, Indian exporters will continue to face bottlenecks, and forced to seek multiple region/country-specific and product specific certifications for exports.

With the Government being the largest buyers of medical device, MedTech companies dependent on Government procurements to make their business viable and sustainable. India’s procurement policy seems to favour imported devices, and the current trend highlights more imports than procurements from domestic players. Purchase preference policy for made-in-India products is toothless and ineffective, and is being largely ignored by both national and state government entities.

Competent Human resources and skill development are critical for business growth, and this need compelling government attention. The Government needs to partner with the industry to identify the specific need-gap for timely addressal of the issue through the Skill development initiative. Industry-academia linkages should be strengthened. Professional courses that fully cater to the industry’s skill requirements and ensure higher employment for the trained personnel need to be introduced.

AI – ML – IoT, and telemedicine have a massive influence on the medical devices segment, and there is an urgent need to put safeguards and guidelines in place. AI implementation and data privacy require a comprehensive AI and cyber security policy. The Government must take a leadership position and put the necessary framework in place, to safeguard against cyber-attacks, like the one on AIIMS in 2022.

Inverted duty structure has been the longest-standing woe of the medical devices segment. Raw materials imports are taxed more than finished imported products, making manufacturing in India unviable. The Government’s stoic inaction on this front is surprising and dismaying.

India is the global Centre for frugal medical device engineering. Most technological products and innovations originate from a well-developed ecosystem, and the US, Europe, and Japan collectively account for roughly 85 per cent of the approximately $220 billion in revenues. There is an urgent need for G2G and P2G interactions and interfaces to transfer relevant technologies to India (as is happening in defence productions).

There are several other issues, concerns, and attention areas that we have highlighted regularly – insufficiency of raw material & supplies, access to clinical trial samples, and the limited effectiveness of the PLI scheme for smaller players.

For a prominent position in the global MedTech map, the Government must address these concern areas on a war footing.”

Chandra Ganjoo
Group Chief Executive Officer,
Trivitron Healthcare

The upcoming Indian budget is expected to focus on 360-degree innovation across all sectors. People are looking forward to measures that will boost economy, create jobs, enhance infrastructure, and advance technology. There is also a strong anticipation for the budget to address healthcare, education, and sustainable development comprehensively.

For the MedTech industry, this budget is a fundamental moment. As stakeholders in this dynamic sector, we eagerly await a budget that is MedTech-focused, emphasizing ‘Make in India’ initiatives and bolstering research and development. Increased funding for R&D will drive innovation, enabling us to deliver best-in-class solutions and maintain our competitive edge globally. A potent budget will empower the industry to meet rising healthcare demands, improve patient outcomes, and reinforce India’s position as a leader in medical technology.

Adding to this, the medical device industry anticipates significant policy changes in the upcoming budget, focusing on tax incentives, reduced import duties, and increased funding for R&D. Stakeholders hope for streamlined regulatory processes and support for domestic manufacturing to enhance innovation and global competitiveness.

Dr Sangita Reddy
Joint Managing Director,
Apollo Hospitals Group

“We are hopeful that the government will continue to prioritize the healthcare sector. The interim budget 2024-25 in February rightly emphasized preventive care, women’s health, infrastructure expansion, and child development, marking significant strides towards a healthier future. We anticipate that the upcoming budget will maintain and strengthen this approach. The promotion of cervical cancer prevention by vaccination for girls aged 9-14 was one of the major announcements, and it represents a significant step toward improving women’s health. We hope the government will keep on supporting these programs. Furthermore, Initiatives under programs like U-Win and Mission Indradhanush should be encouraged. Strengthening infrastructure is crucial to effectively enhance health services in rural and remote regions, ensuring equitable access to health care. Increased support is expected from the government to achieve this goal.”

Vishal Bali
Executive Chairman,
Asia Healthcare Holdings

India’s Budget 2024-25 comes on the back of a changed political environment in India however India’s growth story and potential in a world reeling under economic pressure remains more optimistic than ever. This is an opportune time for India to strike a balance between capital conservation and undertaking some aggressive reforms. The government has already indicated that the forthcoming budget would be aimed at sustaining the current economic growth trajectory of India. Countries aiming for self-sufficiency by driving domestic manufacturing as well as consumption would be the ones to float through swiftly in this much-anticipated economic turmoil.

India’s healthcare needs a reform approach to pivot change and drive the sector as a core agenda for the future of the country.

And it goes without saying that a greater fiscal injection into the sector will be massively impactful. 2023-24 allocation of Rs 79221 crores represented a drop from 2022-23 allocation of Rs 86175 crores. In the interim budget of Feb 2024 the FM earmarked an allocation of Rs 90171 crores. So over the last 3 yrs there has been no indication that healthcare is core to the Govt’s reform agenda for India through this overarching allocation in the budget. India’s public healthcare spending is still far below the target of 2.5% of the GDP. With each passing year not meeting that target pushes back long-term healthcare goals for the country.

Public and private healthcare partnership are the way to go
Changes in the outlook on health and prioritising the sector through stimulus, more organised policy, enabling speedier adoption of digital tools and services, expanding the Ayushman Bharat Digital Mission, and using its last mile reach to enable rural healthcare push must be expedited. The focus must be on transformation and not simply cosmetic changes applied to gaps in the system. Importance must be given to the transformation of public infrastructure, upgrading medical colleges, and investing in rural healthcare. Financial commitment must reach the public healthcare systems both at the metro cities and rural levels.

Bolstering medical education
A lot has been done to drive impetus to medical education which has resulted in the approval of 157 new medical colleges, however, there is a lack of teaching faculty in most of these colleges. There needs to be another policy change of bringing in a public-private partnership thought process where clinicians from private healthcare systems can take academic positions in medical colleges. The government needs to provide a much higher impetus to the private sector by giving tax incentives in setting up healthcare infrastructure and adding hospital beds in tier 2-3 cities across the country to help reduce the demand-supply gap of healthcare in emerging India.

Supporting indigenous medical technology manufacturing
The sector needs an extremely robust and highly incentivised policy for domestic manufacturing of medical technology and consumables. Currently, India is importing Rs. 63,200 crore of medical devices and is over 80 percent dependent on imports. India needs self-reliance in this area which is largely dependent on imports. There needs to be continued support in terms of tax reforms for Research and Development in the medical technologies sector.

Healthcare is a GDP accelerator and budget 2025 should provide for exponential reform to the sector so it supports this objective.”

Abrarali Dalal
Director & CEO,
Sahyadri Hospitals Pvt Ltd

As we anticipate the 2024 budget, healthcare stands as a cornerstone of our nation’s prosperity and well-being. Our commitment to healthcare funding must be unwavering, reflecting our dedication to accessible, equitable, and high-quality healthcare services for all citizens. This budget is a moral compass guiding us towards a healthier, more resilient society.

However, amidst this commitment, caution must be exercised against the allure of populist budgetary measures. While popular sentiment can sway policy, sustainable healthcare funding requires thoughtful planning and foresight. Populist measures, while appealing in the short term, may risk long-term fiscal stability and the sustainability of healthcare initiatives.

Therefore, our approach to the 2024 budget must strike a balance between meeting immediate healthcare needs and ensuring the financial health of future generations. Investments in preventive care, infrastructure, and healthcare workforce development should take precedence, laying the foundation for a robust healthcare system capable of weathering future challenges.

Let us use this budget not only to address current healthcare disparities but also to invest in innovative solutions that promote wellness and resilience. By doing so, we affirm our commitment to a healthier, more prosperous future for all citizens, guided by sound fiscal responsibility and a steadfast dedication to equitable healthcare access.

Dr Raj Nagarkar
MD & Chief of Surgical Oncology & Robotic Services,
HCG Manavata Cancer Centre (HCGMCC)

“There are several key areas where expectations for healthcare funding and initiatives require to be focused by the Government. These include: –

• Increased healthcare spending: We would expect an increase in the overall healthcare budget to improve infrastructure, facilities and services. Particularly in view of aging population and increased incidence of chronic diseases like cancer. Aging individuals require advanced care and modern facilities, while chronic diseases need on-going treatment and specialized programs. Increased funding will enable hospital expansion, state-of-the-art equipment and preventive initiatives.
• Rural healthcare: There must be an enhanced focus on rural healthcare services to bridge the gap between urban and rural healthcare infrastructure. Rural areas often lack access to advanced medical facilities and specialized care. By improving rural healthcare, we can ensure that residents receive timely, quality medical services. This includes investing in rural clinics, telemedicine, mobile health units and training programs for rural healthcare workers. Strengthening rural healthcare infrastructure will reduce disparities, improve health outcomes and ensure equitable access to medical care for all citizens, regardless of their location.
• Public health initiatives: We advocate for increased funding for public health programs targeting critical issues like malnutrition, maternal and child health, cancer and infectious diseases. Enhanced funding can support comprehensive nutrition programs to combat malnutrition, maternal and child health services to reduce mortality rates and robust cancer screening and prevention initiatives. Additionally, more resources can strengthen infectious disease control, ensuring rapid response and prevention measures. Investing in these public health programs will lead to healthier communities, lower healthcare costs in the long run and improved overall public health outcomes.
• Medical education and training: Investment in medical colleges and training programs is essential to address the shortage of healthcare professionals. By enhancing medical education and expanding training opportunities, we can ensure a steady supply of well-qualified doctors, nurses and other healthcare workers. This is crucial for providing quality treatment to patients and improving overall healthcare delivery. Additionally, such investments will help bridge the gap in underserved areas, ensuring that all regions have access to skilled healthcare providers.
• Technology and innovation: A the world moves forward with advancements in technology and science, it is imperative that the Government promotes initiatives to integrate technology in healthcare for telemedicine, digital health records and improved service delivery.
• Insurance schemes: Expanding the coverage and benefits of health insurance schemes for the economically weaker sections is also becoming increasingly important. By doing so, we can ensure that more people have access to essential healthcare services without the burden of high out-of-pocket expenses. Also, the Government should increase the insurance limits in accordance with the latest guidelines of treatment and spending. This adjustment will help individuals receive comprehensive care and keep pace with the rising costs of medical treatments. Strengthening insurance schemes will promote equitable healthcare access and financial protection for vulnerable populations, ultimately improving public health outcomes.
• Support private healthcare: Private healthcare has proved to be the backbone of medical facilities. Proactive and concrete support from the Government is essential to ensure this sector can efficiently manage patient inflows. This support could include policy incentives, financial assistance and streamlined regulations, enabling private healthcare providers to expand their services and infrastructure. Strengthening public-private partnerships will enhance overall healthcare delivery, ensuring patients receive timely and high-quality care, thereby alleviating the pressure on public healthcare facilities and improving health outcomes across the board.
• Mental health: There should also be an increased focus and funding for mental health services, recognizing the growing need for such support. With rising cases of anxiety, depression and other mental health disorders, allocating resources to expand access to mental health care is crucial. This includes funding for more mental health professionals, creating awareness programs and integrating mental health services into primary care. Enhanced support for mental health will lead to better overall well-being, reducing the stigma and ensuring timely and effective treatment for those in need.”

Dr Praveen Gupta
Principle Director and Chief of Neurology,
Fortis Hospital

As we anticipate the 2024 budget, healthcare stands as a cornerstone of our nation’s prosperity and well-being. Our commitment to healthcare funding must be unwavering, reflecting our dedication to accessible, equitable, and high-quality healthcare services for all citizens. This budget is a moral compass guiding us towards a healthier, more resilient society.

However, amidst this commitment, caution must be exercised against the allure of populist budgetary measures. While popular sentiment can sway policy, sustainable healthcare funding requires thoughtful planning and foresight. Populist measures, while appealing in the short term, may risk long-term fiscal stability and the sustainability of healthcare initiatives.

Therefore, our approach to the 2024 budget must strike a balance between meeting immediate healthcare needs and ensuring the financial health of future generations. Investments in preventive care, infrastructure, and healthcare workforce development should take precedence, laying the foundation for a robust healthcare system capable of weathering future challenges.

Let us use this budget not only to address current healthcare disparities but also to invest in innovative solutions that promote wellness and resilience. By doing so, we affirm our commitment to a healthier, more prosperous future for all citizens, guided by sound fiscal responsibility and a steadfast dedication to equitable healthcare access.

Hitesh Sharma
Partner and Life Sciences Leader – Tax,
EY India

“The life sciences sector in India, has shown remarkable resilience and growth over the past years. As the 2024 financial budget announcement approaches, the sector anticipates further support and reforms to sustain its growth trajectory and enhance its global competitiveness. The following are the key areas where the sector is looking for budgetary interventions:

• R&D incentives: Specific investments to ensure competitiveness for new chemical entities and/ or new biological entities (NBEs) and also explore providing a 200% weighted deduction for companies undertaking such R&D
• Medical devices manufacturing: To encourage innovation and investment in manufacturing, introduce concessional tax regime and Profit Linked Incentives for medical device manufacturing
• Customs duty exemptions: The sector expects a continuation or expansion of exemptions on customs duty for the import of pharmaceutical goods and life-saving drugs. The rollback of the health cess on critical medical devices is also sought to alleviate the financial burden on consumers. Lowering customs duty on imported diagnostic equipment and adjusting high GST rates on lab supplies will foster R&D investments.
• Healthcare infrastructure: To ensure state of the art infrastructure, introduce PLI for investment in healthcare infrastructure. The Government should also aim to ensure allocation of appropriate funds to this area. Addressing the shortage of healthcare workers through better training and working conditions is also essential.
• Interactions with healthcare professionals (‘HCPs’): There are several regulations which mention about interactions of companies with HCPs. Relevant clarifications should ideally be brought to provide standard policy which can be common practice across the industry and easy to adhere to and monitor.

The life sciences sector remains optimistic that the upcoming budget will address these expectations, further strengthening India’s position as a research and innovation hub and supporting the ‘Atmanirbhar Bharat’ vision, thereby enabling to touch USD130 billion in value by the end of 2030 and USD 450 billion market by 2047.”

D. S. Negi
CEO,
Rajiv Gandhi Cancer Institute & Research Centre (RGCIRC)

“As we look forward to the 2024 Budget, the focus on reforming cancer care in India is crucial. It’s important to prioritize funding for advanced treatments like immunotherapy and personalized medicine, ensuring more patients can access these cutting-edge therapies. Extending Ayushman Bharat to those aged above 70 will be highly beneficial for senior citizens. However, the current coverage limit of Rs. 5 lakh may not be sufficient for critical illnesses such as cancer, where treatment costs can range from Rs. 15-20 lakhs. Therefore, it is essential to consider increasing the coverage limit for critical illnesses like cancer to ensure adequate financial support for cancer patients.

Expanding screening programs for cancers like cervical, breast, and colorectal can catch diseases earlier, improving the chances of successful treatment. Building more specialized cancer treatment centers and supporting healthcare workers with better training are essential steps. Public awareness campaigns about prevention and symptoms will also play a key role in fighting cancer effectively. These efforts, alongside international collaborations and incentives for new cancer treatments, can bring significant improvements to cancer care across the country.”

Dr Vaibhav Kapoor
co-founder,
Pristyn Care

“We expect a budget that fortifies the cornerstone of our nation’s healthcare system. A robust and sturdy healthcare system is essential to India’s economic development. We believe that the budget will place more of an emphasis on building infrastructure and technology for healthcare as well as on hiring qualified medical personnel. Improving these fundamental elements would enable better healthcare services and guarantee that underserved areas and low-income individuals are sufficiently serviced.

A robust healthcare system is vital for our population’s well-being and the country’s overall growth. India must strengthen its infrastructure, invest in advanced medical technologies, and enable pathways for upskilling healthcare professionals. Strengthening healthcare technology would allow doctors to scale up patient care and management and open new pathways to a futuristic care ecosystem.”

Dr Sanjeev Singh
Medical Director,
Amrita Hospital, Faridabad

“As the nation eagerly anticipates the upcoming budget, the health sector remains a focal point of discussion. The health sector is a critical component of public welfare and a significant contributor to the nation’s GDP. Currently, the healthcare sector contributes approximately 1.7% to the GDP.

This contribution can be significantly increased with strategic investments and reforms. The budget should elevate the healthcare sector’s GDP contribution to around 5% over the next few years.

Investment in healthcare infrastructure. An increased budget allocation is crucial for building and upgrading hospitals, clinics, and diagnostic centers. This investment will improve access to healthcare services and enhance the overall quality of care provided to patients.

Digital health mission. Efforts are underway to implement a digital health record system, which will ensure seamless access to patient data and improved continuity of care.

Focus on preventive healthcare. Allocating funds towards preventive measures, including vaccination drives, public health campaigns, and regular health check-ups, can mitigate the long-term burden on our healthcare system. Campaigns on hygiene, nutrition, and regular health screenings should be initiated.

Strengthening medical research and innovation. The budget should allocate funds for research in cutting-edge areas such as genomics, personalized medicine, and artificial intelligence in healthcare.

Enhancing the healthcare workforce. The budget must include provisions for training and development programs for doctors, nurses, technicians, and support staff.

Public-private partnerships. PPPs by offering tax incentives and simplified regulatory frameworks, bringing collaborations expertise and funding, thereby enhancing the overall efficiency and effectiveness of healthcare delivery.

By focusing on infrastructure, preventive care, research, workforce development, and fostering public-private partnerships, we can build a resilient and robust healthcare system and transform healthcare.”

Dr Sabine Kapasi
Co-Founder and MD at Enira Consulting Pvt Ltd,
Gynecologist and a Global strategy lead at United Nations Emergency Response- UNDAC

“As preparations for the 2024-25 budget unfold, healthcare sector stakeholders call for significant reforms. They suggest increasing healthcare spending to 3% of GDP, improving infrastructure in rural and underserved areas, and strengthening preventive healthcare. Addressing the shortage of healthcare workers through better training and working conditions is also essential.

Expanding health insurance coverage, adopting advanced technologies like telemedicine and digital health records, and complying with the India Digital Personal Data Protection Act of 2023 are key priorities. The focus on emerging technologies such as AI and Machine Learning in the interim budget highlights the push for modernization in the sector.

In terms of tax policy, it is important to incentivize local manufacturing and R&D activities. Providing clarity on GST for business expenses and aligning rates for pharmaceutical ingredients are crucial for operational efficiency. Simplifying regulations and offering incentives for innovation and skill development can strengthen India’s healthcare capabilities and competitiveness.

The Union Budget 2024-25 is a crucial opportunity to meet these expectations and strengthen India’s healthcare system. By investing in infrastructure, technology, human resources, and clear regulations, the government can improve public health outcomes and support the growth of the pharmaceutical sector. Meeting these goals will be a significant step towards a healthier and more prosperous India.”

Anubha Taneja Mukherjee
Member-Secretary,
Thalassemia Patients Advocacy Group

“We look forward to the new Government’s full Budget session with much anticipation, given the various initiations in and around healthcare in the last few years. We expect this Budget to address the critical needs of patients suffering from Thalassemia and other blood disorders.

As a priority, we request that the Finance Ministry allocate increased resources to address the critical blood shortage in the country. India requires 14.6 million blood units each year, according to a study, Final Report on Estimation of Blood Requirement in India, published by the Union Health Ministry. India faces a massive blood deficit of around 7 million units annually. This scarcity creates immense pressure on blood banks and challenges for patients suffering from Thalassemia.

Secondly, a 360-degree public awareness campaign by the Government is required to encourage voluntary blood donation. Presently, 80% of blood requirements are met by replacement donors, with individuals donating only when a family member or friend needs blood. Encouraging a culture of regular blood donation from healthy individuals through a public campaign is essential for creating a reliable blood supply. Third, funding for indigenous gene therapy research in India is required for improved Thalassemia treatment. Fifth, financial support is critical for Nucleic Acid Testing (NAT) implementation to enable wider adoption of this advanced testing method in blood banks. The advanced NAT technique boasts far greater accuracy in detecting infections and enhancing blood safety.

The Thalassemia Patients Advocacy Group urges the Government to increase resource allocation in the above areas to ensure better health outcomes for thalassemia patients and foster a healthier, more inclusive society.”

Yogesh Mudras, ,
Managing Director,
Informa Markets in India

“The upcoming budget will be crucial in solidifying India’s position at the global level and enhancing the pharmaceutical sector’s capabilities for Viksit Bharat. The focus must be on creating a sustainable growth ecosystem by introducing a range of measures and policies to encourage public-private partnerships, ease of doing business, and industry compliance. The government must extend incentives for R&D and innovation in manufacturing through the PRIP (Promotion of Research and Innovation in Pharma Med-Tech Sector) scheme from the previous budget. Additionally, incentivizing domestic API manufacturers and expanding PLI schemes will enable more local production, helping the country become self-reliant and boosting domestic production in alignment with the Make-in-India initiative. The government should also address the industry’s demand for GST rationalisation and corporate tax concessions to foster growth and collaboration within the pharmaceutical industry. As the organisers of CPHI & P-MEC India, we are dedicated to nurturing an ecosystem where the pharmaceutical industry can flourish, and we anticipate policies that will support this goal.”