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Budget reaction: Healthcare industry

Overall, the health budget forecast for 2022-23 is Rs 86,606 crore, a 16% increase above Rs 74,602 crore in 2021-222.

February 01, 2022 6:51 IST | India Infoline News Service
Dr Gauri Agarwal Founder & Director Genestrings Diagnostics & Seeds of Innocence

We are happy with the decision to make the National Digital Health Ecosystem an open platform that will provide universal access to health care facilities through digital health professionals. The government has also announced concessions on the customs duty levied on mobile phone parts making them cheaper which means more people will be able to make use of the digital health ecosystem. Both of these steps combined together will significantly improve the telemedicine sector's ability to advance even to the most remote corners of the country. Upgrading existing women and child development programmes such as Mission Shakti, Mission Vatsalya, Saksham Anganwadi, and Poshan 2.0 would also significantly improve women's health and lifestyle. Overall, the health budget forecast for 2022-23 is Rs 86,606 crore, a 16% increase above Rs 74,602 crore in 2021-222. This will assist the nation in upgrading our health infrastructure as well as preparing for various new challenges.

Mr. Vikram Thaploo, CEO Apollo Telehealth

The government in its last Union budget had placed health and well-being as the first of its six pillars, and with India into its third year into the Covid-19 pandemic, that focus has reflected in this year's Union Budget as well. The launch of the National Tele Mental Health Program which will include a network of 23 tele mental health centres of excellence with Nimhans being the nodal centre and IIIT Bangalore providing technology support is a welcome move by the government to augment the use of telemedicine services as well as provide support to people with mental health disorders. Also, an open platform for the National Digital Health Ecosystem will be rolled out and it'll further help in strengthening the healthcare services within the country. It will consist of digital registries of health providers and health facilities, unique health identity and universal access to health facilities. The increased investment towards Health Infrastructure and focus on a holistic approach to health is seen as a testimony of the commitment to building stronger health systems in the country."

Mr. Nikkhil K Masurkar, Executive Director, ENTOD Pharmaceuticals

A well structured and a forward looking budget encompassing all sectors and detailed steps for implementation. Healthcare and well-being has received top priority in this budget. The roll out of the the National Digital Health Ecosystem that will consist of digital registries of health providers and health facilities, unique health identity and universal access to health facilities along with the national tele-mental health program shows the government's committment towards improving and enhancing healthcare in India. As the future of manufacturing is driven with robotics and other automation technologies, we also appreciate the announcement of PLI schemes to create manufacturing global champions under AtmaNirbhar Bharat. I am hopeful and happy about the changes on the healthcare, which is an important area for India. The key is in its implementation."

Mr. Ashok Patel, CEO and Founder Max Ventilator

While the government’s announcement in the budget 2022 to accelerate the country's general infrastructure building including connectivity and logistics through Gatishakti would certainly catalyze the broader domestic manufacturing, it must also have positive spillover effects on the medical device segment. The continued policy support to MSMEs by way of extension of ECLGS scheme would also be beneficial to a large number of medical device makers who fall under the MSME category. At the same time, the budget highlighting the PLI scheme in general should also hold value for the medical device sector.  The creation of a national digital health ecosystem with focus on mental health would also lead to enhanced business activities."

*Dr Aashish Chaudhry  Managing Director, Aakash Healthcare ( Aakash Institute group)

The Union Budget has built the groundwork and provided a blueprint for the economy over the next 25 years. We are happy with the decision to create an open platform for the National Digital Health Ecosystem. This will include digital registers of health professionals and facilities, a unique health identity, and universal access to health care facilities. The pandemic has brought the subject of mental health to the forefront. For this, the government has announced a national telemental health programme. This would include a network of 23 excellence telemental health centres, with Nimhans serving as the nodal centre and IIIT Bangalore providing technical support. This would undoubtedly improve access to high-quality mental health counselling and treatment services.

The views and opinions expressed are not of IIFL Securities, indiainfoline.com

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