The Union Budget 2023-24 presented by our Finance Minister is committed to providing significant stimulus to the healthcare and pharmaceutical industry with increased allocation of funds (as compared to the previous year) and we duly welcome it. The government’s financial and infrastructural impetus focused on improving skilling and education in the sector, especially in nursing care and multidisciplinary knowledge in medical devices, shall significantly improve the availability of skilled personnel in healthcare.
The introduction of a new programme to boost research and innovation in pharmaceuticals with the support of centres of excellence, coupled with encouragement for public-private collaboration for research purposes, is a welcoming move and has a huge potential to improve healthcare with revolutionary innovations and solutions. It shall also encourage the participation of health start-ups to provide on-ground support for the implementation of such forward-looking programmes.
The introduction of new schemes under our Digital India goal to augment India’s proficiency in new-age technologies and solutions, shall also directly/indirectly benefit the healthcare and pharma industry in the years to come.