Joy Chakraborty, COO, P.D. Hinduja Hospital & Medical Research Centre, Mumbai:
“As we build on the transformative healthcare initiatives introduced in previous budgets, we look forward to a stronger emphasis on technology-driven delivery and preventive care in the upcoming fiscal year. The successful integration of maternal and child health programs, alongside the implementation of the U-WIN platform, has established a robust foundation for a more cohesive healthcare ecosystem. For 2024-25, we anticipate increased allocation for healthcare and special programs focused on preventive healthcare and digital infrastructure, which are critical to enhancing efficiency and accessibility.
A key fiscal reform urgently required is the zero-rating of healthcare services. By preserving the input tax credit chain, this measure would reduce patient costs and enable better resource allocation for healthcare providers. Coupled with increased public expenditure on rural and tribal healthcare infrastructure, this reform could significantly advance affordability and equity in healthcare delivery.
The government’s focus on women’s health, evident in initiatives like the cervical cancer vaccination program, reflects a commendable commitment to preventive care. However, addressing the healthcare workforce shortage, projected to reach a deficit of 1.8 million health workers by 2030 (WHO), remains critical. Bridging this gap—particularly for the estimated shortfall of 0.16 million doctors and 0.65 million nurses and midwives—will require immediate investments in skill-building and workforce capacity.
India’s transition from curative to preventive healthcare must be accelerated through comprehensive screening programs targeting high-incidence non-communicable diseases (NCDs). Early detection and management can not only improve health outcomes but also reduce long-term costs for both patients and the system at large.
Digital health will play a pivotal role in this transformation. We need strategic initiatives to drive its adoption, starting with nationwide disease awareness campaigns, unified digital health record platforms, and specialised training for healthcare professionals to support telemedicine and remote care services. Incentivising private sector participation through mechanisms like viability-gap funding will be critical to expanding infrastructure in underserved regions.
Additionally, strengthening industry-academia partnerships is essential to align healthcare training with evolving market demands. Investments in centres and practical training facilities will ensure a skilled workforce ready to manage both traditional and emerging healthcare challenges.
Finally, the modernisation of Anganwadi centres and scaling the U-WIN platform with robust digital infrastructure will solidify India’s healthcare foundation. These initiatives must focus on creating sustainable, scalable solutions that address immediate needs while preparing the system for future challenges. Through this multifaceted approach, we can foster a healthcare ecosystem that is accessible, efficient, and equipped to meet the dynamic needs of our growing population.”
Surajit Chakrabartty, CFO, MedGenome:
“ As India continues to prioritise healthcare and innovation to drive its long-term development goals, we remain optimistic that the upcoming budget will recognise the transformative role genomics can play in revolutionising diagnosis and improving healthcare outcomes. Over the next 5-7 years, we anticipate genomic testing becoming an integral part of routine healthcare, driving advancements in early disease detection and personalised medicine. To fully unlock the potential of genomics, we hope the budget will allocate substantial funding for research and infrastructure development in genomics, accelerating the adoption of cutting-edge technologies and ensuring affordable and equitable access to diagnostics across all demographics.
Strengthening public-private partnerships, offering tax incentives for biotech startups, and cultivating a strong policy framework will allow groundbreaking innovations to scale and reach every corner of the country helping tackle some of India’s most urgent healthcare challenges.
To position India as a global leader in personalised healthcare, it is imperative to enhance the infrastructure for precision medicine and foster collaboration across sectors. These initiatives will not only lead to better patient outcomes through timely and targeted interventions, but also establish India as a hub for multi omics led diagnostics, improving the health of millions while driving economic growth.”
Masaharu Morita, Founder and Program Director, NURA:
“The country’s healthcare industry hopes that the government will surely look at launching programmes and policies in the upcoming Budget 2025 that support the growth of the AI ecosystem in India with a clear roadmap to position the country as a global hub for the AI-enabled healthcare services.
With the help of government’s industry friendly policies, AI-enabled healthcare companies can channelise more investments in the healthcare sector, particularly in the adoption of AI and advanced technologies. Higher budgetary allocation for healthcare in the upcoming budget particularly in promoting R&D and integration of AI solutions in diagnostics, telemedicine, and personalised healthcare would be very beneficial for the sector as a whole.
To address emerging health challenges, the upcoming budget should focus on investing in preventive care, enhancing care coordination and management, and addressing healthcare gaps, particularly with the help of emerging technologies such as AI and blockchain.”
Anurag Kashyap, Director Finance & Strategy, TR Life Sciences :
“Hospitals or providers are the backbones of the sector and account for 80 per cent of the total healthcare market. Niti Aayog projects the hospital industry to reach $132 bn by 2023 with a CAGR of 16-17 per cent. With rising dual disease burden-Communicable like COVID-19, Flue, and H1NI among others and Non-Communicable- the healthcare sector needs robust infrastructure, capacity building, human resources, and a rational regulatory framework.
Funding and financing to the sector remain a high priority. Private investment in the sector has been increasing but to reach an optimum level, there are some bottlenecks that need to be removed immediately. In healthcare, especially for the hospital segment tenure of 7-8 years for a loan is not enough. It requires long-term (15-20 years) affordable credit facilities. For a long time, the sector has been expecting a robust credit mechanism to overcome the shortage of funds. Long-term (15-20 years) credit facilities would significantly reduce the burden. Interest rate, tenure, and collateral are the major concerns. Enabling easy access to capital at lower rates without collaterals would long way to creating a new healthcare ecosystem in the country.
And the providers do not get any input credit facility. It has emerged as a major pain point for the healthcare sector which expects the government to shift hospitals from the exemption category to the zero-tax rate category which would enable the hospitals to take GST Input credit. The rationalisation of GST for healthcare would lead to unlocking the differential input credit and ease costs for all healthcare providers. This saving will be passed on to the end consumers and will lower the cost of care. Tax incentives for both existing and new healthcare projects are required.”