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Dr. Shravan Subramanyam  & Mr Amitoz Singh

Healthcare experts welcome Union Budget

 Rohit Shishodia
Healthcare experts have welcomed the Union Budget presented by Finance Minister Nirmala Sitharaman, pointing out that the budget has focused on healthcare.

Mr Amitoz Singh, Founder and CEO, Nirvasa Healthcare, said: “With Make in India to Atmanirbhar Bharat, Finance Minister Nirmala Sitharaman has put health and well-being at the centre of the budget by introducing it as one the six pillars of the 2021-22 historic budget. In this year's budget, FM proposes the extension of tax holiday for start-ups by one more year, which will strengthen India's start-up sector, especially Healthcare.”

“Further, the investment of Rs. 64,180 crore in Healthcare under PM Atmanirbhar Swasth Bharat Yojana will help drive focus towards developing capacities of healthcare systems. I would like to congratulate FM Nirmala Sitharaman for reinvigorating the healthcare system and approaching it holistically to uplift human lives in the country,” added Mr Singh.

“It is heartening to see that the government has finally addressed the long-standing demand of the industry by increasing FDI limit in insurance sector from 49% to 74%, subject to specific compliance. This move will allow foreign ownership and control safeguards, help liberalize the sector and improve penetration,” said Dr Mr. Mayur Ranjan Dwivedi, Head – Business Strategy and M&A at Religare Enterprises Limited.

“The limit hike will also attract enhanced capital flow to the sector and help insurance companies to raise funds. However, as mentioned by the Minister of Finance, the execution of the proposal will require amendments to Insurance Laws Act 2015 and Insurance Act 1938,” said Dr Dwivedi.

Dr. Shravan Subramanyam, Managing Director, Wipro GE Healthcare, said, “It is heartening to see the Government’s focus on health and wellness for Atma Nirbhar Bharat. With 137% increased budget allocation healthcare has taken center stage for the benefit of citizens of India.”

“We applaud the new budget which takes a holistic view of healthcare to move towards Atma Nirbhar Bharat with emphasis on preventive, curative and wellbeing, reducing rural urban divide and capacity enhancement interventions across the value chain,” added Dr Subramanyam.

“Our endeavour for the past thirty years have been to ensure quality and affordable healthcare is accessible to the doorsteps of people through our local manufacturing, research, digital and skilling efforts delivered through the wide network of sales and services personnel and partners,” said Dr Subramanyam.

“We wish to partner with the government and other players to strengthen and bring to reality the newly launched Atmanirbhar Swasth Bharat Yojna. We continue our promise to be a partner to the government’s effort for a self-reliant India especially during early intervention in the areas of mother & child, cardiology, oncology and trauma and stroke,” stressed Dr Subramanyam.

Mr Nikhil Chopra, CEO and Whole Time Director, J.B. Chemicals and Pharmaceuticals, said, “A well-rounded holistic budget that embraces all sectors through various measures to boost economic activity.

“Against the backdrop of the pandemic and an economy facing an unprecedented contraction, the Finance Minister has met the challenge face-on with a budget that has a long term vision laid out in a strategic road map.  The emphasis on an ‘Aatmanirbhar Bharat’ with an increase in capital expenditure will boost investment in infrastructure and fuel economic growth,” added Mr Chopra.

Mr Chopra added that the significant increase in allocation for health and well-being augurs well for the nation and can be a driving force and strong foundation for accelerating essential drugs and health-related consciousness to the last mile of Indians.

He said that the allocation of funds for Covid-19 vaccination will fast track the inoculation drive and it is worth lauding the Government’s commitment to provide further funds if deemed necessary.  

Mr Chopra pointed out that the budget addresses the gaps in rural and urban healthcare that the pandemic exposed with the ‘PM Atmanirbhar Swasth Bharat Yojana’ in addition to the National Health Mission.

“Along with the emphasis on nutrition, clean water, and clean environment, this will bolster health infrastructure and reach across India. The pharma industry is ready to contribute towards fortifying the health of the nation that is the cornerstone of development. JBCPL stands by the nation!,” he said.


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