Nathealth-Healthcare Federation of India has put forward a compelling case for substantial reforms aimed at revolutionizing India’s healthcare landscape in the upcoming Union Budget 2024-25.
Advocating for a comprehensive overhaul, Nathealth’s recommendations span critical areas such as healthcare infrastructure expansion, separate policies for medical devices, services, and diagnostics, and according national priority status to healthcare. These reforms are geared towards positioning India as a global leader in healthcare solutions.
The federation’s blueprint envisions transformative measures aligned with the Health for All agenda and India’s aspirations for a developed nation by 2047. Key proposals include increasing public health expenditure to over 2.5% of GDP, enhancing the acceptability of schemes like PMJAY/CGHS among private sector providers, and leveraging private capital to achieve Universal Health Coverage (UHC).
Nathealth emphasizes simplifying regulatory compliance through digital tools, fostering innovation in the MedTech sector, and promoting localization of healthcare products and services to bolster India’s global standing. It calls for rationalizing GST at a uniform 5% rate for healthcare with full input tax credit, addressing MAT credit issues, and reviewing health cess policies to ensure affordability in MedTech.
Highlighting the importance of healthcare as a national priority, Nathealth proposes tax incentives and financial facilitation akin to SEZ policies to attract private sector investment across healthcare infrastructure, manufacturing, digital health, exports, and education.
Abhay Soi, president of Nathealth and chairman & managing director of Max Healthcare Institute Limited, underscored the pivotal role of healthcare in India’s economic growth and job creation. He stressed the necessity of scaling up healthcare infrastructure, increasing healthcare spending, and fostering innovation to meet the diverse healthcare needs across the country.
As the Union Budget approaches, Nathealth urges prioritization of healthcare infrastructure, innovation, and skill development for medical professionals, alongside strengthening public-private partnerships. The focus on research and development is crucial for driving medical advancements and tackling emerging health challenges effectively.