Nitin Goel, Managing Director, IMS Health South Asia while elabrating on the budget says, “There has been no specific initiatives announced to boost the medical devices sector. The expectation of tax incentive to promote medical device manufacturing in India still remains unfulfilled.”
“Move to open AIIMS in Jammu & Kashmir, Punjab, Tamil Nadu, Himachal Pradesh and Assam along with an AIIMS like institute in Bihar will help in addressing the challenge related to availability of healthcare professionals in provider space and bridge the demand supply gap.”
Goel says that the government’s focus on preventive healthcare and awareness will help in further evolution of primary care and other emerging models of healthcare with more private players being interested in this space. Increase on number of countries for visa on arrival applicability from 43 to 150 countries expected to boost medical tourism industry in India.”
“The universal social scheme with insurance coverage for accidents, health, life and pension scheme for all is a welcome sign. This will go a long way to benefit specially the poor and the unprivileged.”
Goel further says, “Trauma care within private hospitals may get a boost from both increase in accident coverage as well as more devices being available under the ‘Make in India’ campaign. Though there has been lot of upsides, the government has not declared much improvement in percentage GDP allocation for healthcare.”
“Intent to promote more PPP projects where in private investments are catalysed by public investments. Reduction of corporate tax (from 30 per cent to 25 per cent over the next four years) to increase private investments.”
“Reduction in income tax on royalty fees for technical purpose (from 25 per cent to 10 per cent) to boost in research and technological improvement.”
Service tax exemption is extended to all ambulance services provided to patients.
EH News Bureau