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Health Budget Highlights: Govt Gives Thrust To Medical Education, Research And Innovation In Budget 2023

Health Budget 2023 Highlightse: Follow this page for all the updates and news related to the Health Budget presented by Finance Minister Nirmala Sitharaman.

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Health Budget Highlights: Govt Gives Thrust To Medical Education, Research And Innovation In Budget 2023

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Health Budget 2023 Live: Hello and welcome to ABP Live. Follow ABP Live's blog to get the latest developments, news, latest updates on the health Budget presented by Finance Minister Nirmala Sitharaman.

The Union Budget 2023 presented by Finance Minister Nirmala Sitharaman on Wednesday prioritised medical education and setting up of nursing colleges. Sitharaman also said the government would come up with a programme to eliminate sickle cell anaemia by 2047.

READ | Health Budget 2023: Experts Call For Increased Allocation, Focus On Digitisation And Mental Health

"Mission to eliminate sickle cell anaemia by 2047 to be launched," Finance Minister Nirmala Sitharaman said.

Sitharaman also announced the establishment of 157 new nursing colleges to improve the nurse-patient ratio. "157 new nursing colleges will be established in co-locations with the existing 157 medical colleges established since 2014," she said.

ALSO READ | Health Budget 2023: Industry Seeks Medical Devices Policy, Reduction In Customs Duty On Equipment

The Finance Minister also said facilities in select Indian Council of Medical Research (ICMR) laboratories would be made available for research by public and private medical college faculty members and private sector research and development teams to encourage collaborative work.

The government will also come up with a new programme to promote research and innovation in pharma through centres of excellence.

"New programme to promote research and innovation in pharmaceuticals to be taken up through centres of excellence, industry to also be encouraged to invest in research and development in priority areas," Sitharaman said.

The domestic pharma industry had demanded that the Budget should help fuel innovation and R&D, which in turn will set the pace for propelling the pharmaceutical industry.

In the last Budget, the government allocated around Rs 86,200 crore to the Ministry of Health and Family Welfare (MoHFW), a 16.5 per cent increase over the previous year. 

The Economic Survey 2023 tabled by Union Finance Minister Nirmala Sitharaman in the Parliament on Tuesday showed that the central and state governments' budgeted expenditure in the health sector reached 2.1 per cent of the gross domestic product (GDP) in 2022-23. The revised estimate the year before was 2.2 per cent of the GDP.

In comparison, just 1.6 per cent of the GDP was spent by the Centre and state governments on healthcare in 2020-21 (FY21).

12:29 PM (IST)  •  01 Feb 2023

Govt To Increase Income Tax Rebate Limit To Rs 7 Lakh Under New Tax Regime: FM Sitharaman

Finance Minister Nirmala Sitharaman has announced income tax rebate extension on income up to Rs 7 lakh in new tax regime.

12:20 PM (IST)  •  01 Feb 2023

Govt To Reduce Number Of Basic Custom Duty Rates On Goods Other Than Textiles And Agriculture: Finance Minister

Nirmala Sitharaman said: “I propose to reduce the number of basic custom duty rates on goods other than textiles and agriculture, from 21 to 13. As a result, there are minor changes in the basic custom duties, cesses & surcharges on some items including toys, bicycles, automobiles”.

12:18 PM (IST)  •  01 Feb 2023

Fiscal Deficit Is Estimated To Be 5.9 Per Cent: Nirmala Sitharaman

Union Finance Minister Nirmala Sitharaman said: "Fiscal Deficit is estimated to be 5.9 per cent”. The government will continue to be on the path of fiscal consolidation targeting to achieve a 4.5 percent fiscal deficit of GDP by 2025-26.

12:16 PM (IST)  •  01 Feb 2023

Mahila Samman Savings Certificate For Women For 2 Years: Nirmala Sitharaman

Union Finance Minister Nirmala Sitharaman announced Wednesday that the tenure of Mahila Samman Savings Certificate, a new small savings scheme for women, will be two years with a fixed interest rate of 7.5 per cent. The deposit will be up to INR 2 lakh.

12:03 PM (IST)  •  01 Feb 2023

Government Will Launch Pradhan Mantri Kaushal Vikas Yojana 4.0 To Skill Youth

Finance Minister Nirmala Sitharaman says the government will launch Pradhan Mantri Kaushal Vikas Yojana 4.0. "The government will launch Pradhan Mantri Kaushal Vikas Yojana 4.0 to skill the youth for international opportunities. Thirty Skill India International Centres will be set up across different states," Sitharaman said.

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