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Budget reaction: Saurabh Kochhar, Founder and CEO, Meddo

The health sector has received due importance and we are happy that we are in a progressive and promising space. COVID-19 challenged the health sector across the globe but it’s time for us to see the silver lining. The fact that health is regarded as the foremost pillar of the Union Budget 2021 speaks volumes about the government’s focus on the sector. 137 per cent increase in healthcare expenditure is the need of the hour. In a year where overall GDP is contracting, this should take healthcare spend to over 3 per cent of GDP, up from 1.3 per cent. What is now imperative is deploying allocated funds effectively to further primary health and digitisation. Budget allocation towards vaccines is noteworthy and a step in the right direction. With increased capital infusion/liquidity, it would be prudent to incentivise private players who can become the backbone of the healthcare delivery system in the nation and partner the vision of the policymakers and support implementation effectively. Last but not the least, increased FDI in Insurance can be utilised by the health sector to increase penetration and offer the much-needed security and cover for the masses. All in all, the budget 2021 is inclusive and promising for the healthcare sector.

 

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