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.
Finance Minister Nirmala Sitharaman has announced income tax rebate extension on income up to Rs 7 lakh in new tax regime.
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”.
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.
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.
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.
Finance Minister Nirmala Sitharaman says PAN to be common identifier for all digital systems of govt agencies, will enable ease of business. "For business establishments required to have Permanent Account Number, the PAN will be used as a common identifier for all Digital Systems of specified government agencies," she said.
Finance Minister Nirmala Sitharaman said that a new programme for research in pharmaceuticals will be formulated and the industry will be encouraged to invest in research. The pharmaceutical industry has been asking for incentives to promote R&D investments.
Finance Minister Nirmala Sitharaman says mission to eliminate sickle cell anemia by 2047 will be launched. Sitharaman also said 157 new nursing colleges will be established in core locations.
Finance Minister Nirmala Sitharaman lists priorities of Budget 2023-24. "The priorities are inclusive development, reaching the last mile, infra and investment, unleashing the potential, green growth, youth and financial sector," says Sitharaman. Sitharaman said the govt was implementing the scheme to supply free grains to poor under PMGKAY with expenditure of Rs 2 lakh crore from January 1.
Finance Minister Nirmala Sitharaman says India's growth at 7% in current fiscal highest among major economies. "The world has recognized India as a bright star, our growth for current year is estimated at 7.0%, this is the highest among all major economies, in spite of massive global slowdown caused by pandemic and the war," Sitharaman said.
Finance Minister Nirmala Sitharaman said during the Covid pandemic, the govt ensured that "nobody goes to bed hungry with a scheme to supply free foodgrains to over 80 crore persons for 28 months". "Indian economy on the right track, and heading towards a bright future," Sitharaman said.
Finance Minister Nirmala Sitharaman begins Budget speech, says "this Budget is the first in Amrit Kal". This is Nirmala Sitharaman's fifth Budget presentation since 2019. This year's Budget holds much significance as this will be the last full Budget before the 2024 general elections.
The Cabinet meeting chaired by PM Modi ahead of the Union Budget speech has concluded. The Union Cabinet has approved Budget for 2023-24. Finance Minister Nirmala Sitharaman will present the Union Budget shortly.
Sensex breaches 60,000 points (up 0.9 per cent) ahead of Finance Minister Nirmala Sitharaman’s speech. BSE's Sensex went up over 500 points and NSE's Nifty surged 105 in the opening of Wednesday session.
The Covid-19 pandemic has been a sort of an eyeopener for the government to prioritise India's healthcare segment, with industry experts calling for a sharp increase in budgetary allocation with special focus on preventive care, mental health and digitisation of the sector.
Dr Ishwar Gilada, president, AIDS Society of India, said the Modi government should increase the budgetary allocation for the healthcare sector to 4 per cent of GDP. Several experts ABP Live spoke to said the government should prioritise digitalisation of the healthcare sector by making it more customer-centric and easily accessible for all. READ FULL STORY
With the healthcare sector in India going through a digital revolution, industry experts hope it would improve accessibility and affordability for Tier 3 and 4 cities and rural areas. Healthcare experts are optimistic of the government bringing provisions in Budget 2023 regarding opening more tertiary care hospitals in remote areas. READ FULL STORY
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.
Welcome to our live blog. Union Finance Minister Nirmala Sitharaman is set to present India’s Budget for the year 2023 at 11 am in Parliament. The health sector is one of the most important sectors, especially in the midst of an ongoing Covid-19 pandemic.
Experts have called for heavy investment in medical colleges, healthcare infrastructure, and disease awareness initiatives, and expect the budget to focus on drug research, child and maternal health initiatives, traditional medical practices, infectious diseases and antimicrobial resistance, among others.
Background
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).
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