Budget 2024: Boost healthcare spending, reform iGST and address embedded tax issues, industry leaders urge Interim Budget 2024: Financial Minister Nirmala Sitharaman will present the interim budget for fiscal year 2024-25 on February 1, 2024. Sitharaman will present the budget for the sixth time this year under the Modi government. As the Lok Sabha elections are due this year, the finance minister will present the interim Budget instead of a full-year Budget. It is noteworthy that the full budget for the fiscal year 2024-25 will be presented after the formation of the new government following the general elections. Through a set of recommendations submitted for the Union Budget 2024-25, NATHEALTH has urged the government to embark on transformative measures that prioritise bolstering healthcare infrastructure and making strategic investments to overcome supply-side constraints. “NATHEALTH recommendations emphasize strengthening healthcare infrastructure, rationalization of GST, fostering innovative healthcare models tailored to meet the diverse needs of India’s populace, facilitating access to capital to strengthen India’s healthcare ecosystem, and leveraging technology to establish world-class healthcare ecosystems. The recommendations go beyond the conventional norms by advocating for inclusive strategies that confront regional healthcare disparities, the body said in a statement. This includes targeted initiatives to address the issue of skilled health workforce and how to make India a preferred choice among global and domestic patients. “As we present these comprehensive budget recommendations, NATHEALTH envisions a transformative roadmap for India’s healthcare future. India’s healthcare demands urgent and strategic reforms. I advocate for increasing our healthcare budget to 2.5% of GDP, rationalizing the GST framework, and strengthening our healthcare value chain. It’s crucial to focus on capacity building and training of healthcare professionals to meet the growing demands of our nation. These steps are vital for a robust and responsive healthcare system in India,” Dr Ashutosh Raghuvanshi, President, NATHEALTH and MD & CEO, Fortis Healthcare, said.
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