India’s FY2024/25 healthcare budget includes double-digit increases, reflecting the government’s focus on enhancing the healthcare system. Investments in healthcare infrastructure, medical devices, and policy reforms are expected to attract investments and drive growth.
India’s Increased Focus on Healthcare Budget for FY2024/25
India has announced a double-digit increase in the healthcare budget for FY2024/25, showcasing the government’s commitment to enhancing the healthcare system. Despite a slight decrease compared to the interim budget, the long-term health expenditure forecast remains positive. Additionally, custom duties on certain medical devices have been reduced to boost domestic production in the healthcare sector, attracting investments from multinational companies.
Government Initiatives and Budget Analysis
The finalized budget for FY2024/25 reflects a 12.9% growth in healthcare spending, emphasizing initiatives to improve health insurance, infrastructure, and preventative care. Despite the decrease from the interim budget, policy continuity is expected with the ruling coalition in power, supporting healthcare goals such as expanding the Ayushman Bharat scheme and enhancing healthcare infrastructure. Private expenditure is anticipated to grow alongside public investment, driven by rising incomes and urbanization.
Commitment to Public Health and Universal Coverage
India’s increased healthcare budget signifies a step towards improving public health, addressing challenges posed by the COVID-19 pandemic, and strengthening overall healthcare infrastructure. Investments will focus on expanding access to primary healthcare, upgrading medical facilities, and promoting health education and preventive measures. The government’s commitment to achieving universal health coverage underscores the importance of a well-funded healthcare system for national development and economic stability, aiming to create a healthier and more productive population.
Source : India Finalizes Healthcare Budget with Double-Digit Rise for FY2024/25 – Thailand Business News