Budget 2024 must strike a balance between meeting immediate needs and ensuring financial health of future generations

Dr Praveen Gupta, Principle Director and Chief of Neurology, Fortis Hospital

 As we anticipate the 2024 budget, healthcare stands as a cornerstone of our nation’s prosperity and well-being. Our commitment to healthcare funding must be unwavering, reflecting our dedication to accessible, equitable, and high-quality healthcare services for all citizens. This budget is a moral compass guiding us towards a healthier, more resilient society.

However, amidst this commitment, caution must be exercised against the allure of populist budgetary measures. While popular sentiment can sway policy, sustainable healthcare funding requires thoughtful planning and foresight. Populist measures, while appealing in the short term, may risk long-term fiscal stability and the sustainability of healthcare initiatives.

Therefore, our approach to the 2024 budget must strike a balance between meeting immediate healthcare needs and ensuring the financial health of future generations. Investments in preventive care, infrastructure, and healthcare workforce development should take precedence, laying the foundation for a robust healthcare system capable of weathering future challenges.

Let us use this budget not only to address current healthcare disparities but also to invest in innovative solutions that promote wellness and resilience. By doing so, we affirm our commitment to a healthier, more prosperous future for all citizens, guided by sound fiscal responsibility and a steadfast dedication to equitable healthcare access.

 

Dr Suman Katragadda, Founder and CEO, HEAPS Health Solutions India, Hyderabad

“As we gear up for the budget for this year, the focus of the Government shall be on Healthcare access to all. With a sustained focus on Healthcares Access to all, Out-of-Pocket Expenditure (OOPE) in total health expenditure needs to be taken into consideration. According to the National Sample Survey Office (NSSO), the Household Consumption Expenditure Survey of 2022-2023 shows a rise in medical expenses as a percentage of monthly per capita consumption expenditure (MPCE). Hospitalisation expenses increased from 2.15 per cent to 2.31 per cent, and non-hospitalisation expenses rose from 4.5 per cent to 4.66 per cent in rural India between 2011-2012 and 2022-2023. These data indicate the growing need to improve care management services in India. The government should work to improve care coordination and care management to reduce the risk of hospitalisation and repeat hospitalisation. This will help in reducing the burden of rising healthcare costs on Indian households. Care coordination is crucial because it ensures adherence to prescribed guidelines and treatments, minimising the risk of overutilization while optimising patient outcomes. On the other hand, a prominent challenge faced in healthcare insurance is the pervasive lack of transparency evident in insurance policies and claim processes. Policyholders often need help deciphering the intricate details of insurance contracts, resulting in confusion regarding coverage entitlements and reimbursement procedures. The government of India needs to work toward easing the health insurance claim processing and increasing transparency.”

 

 Aryaman Tandon, Managing Partner, Healthcare at Praxis Global Alliance 

‘Healthcare is a critical sector in India, with budget expectations including

1. Increased Allocation: ~2 per cent rise from ₹89,115 Cr (FY24) to ₹90,658 Cr (FY25) for improved infrastructure, accessibility, and quality. More funds for public health programmes, especially infectious diseases and maternal/child health.
2.  Infrastructure Development: ~95 per cent increase for rural healthcare under PM-ABHIM (₹2,100 Cr in FY24 to ₹4,108 Cr in FY25) for primary/community health centres. Upgrading existing facilities with advanced equipment.
3. Universal Health Coverage: ~4 per cent increase for Ayushman Bharat (PMJAY) from ₹7,200 Cr (FY24) to ₹7,500 Cr (FY25) for wider coverage and more beneficiaries. Introduction/enhancement of health insurance schemes, especially for economically weaker sections.
4. Medical Education and Workforce Development: Establishment of new medical colleges (112) and nursing schools (157) to address healthcare professional shortages. Investment in training programs to improve skills and knowledge.
5. Digital Health Initiatives: Promotion of telemedicine and digital health services for improved access, especially in remote areas. Allocation of ₹250 Cr for the National Digital Health Mission to develop robust health data management systems.
6.  Preventive Healthcare: Funding for campaigns focusing on lifestyle diseases, immunisation, and sanitation. Implementation of widespread screening programs for early disease detection.
7.  Mental Health: ~10 per cent increase in budget allocation from ₹919 Cr (FY24) to ₹1,010 Cr (FY25) for programs and initiatives. Expansion of counselling and support services at primary healthcare levels. 
8. Public-Private Partnerships (PPP): Encouragement of PPPs to leverage private sector efficiency. Tax incentives and subsidies for private sector investment in healthcare infrastructure and services.’

 

Krishna Veer Singh, Co-Founder and CEO, LISSUN

“At Lissun, we view the upcoming 2024-25 Union Budget as a crucial opportunity to revolutionise India’s approach to mental health. We expect a significant increase in budget allocation for mental health initiatives, particularly in awareness campaigns, accessibility improvements, and affordability measures.

Our hopes include integrating mental health services into primary healthcare, substantial investments in digital mental health solutions, and incentives for startups innovating in this space. We advocate for measures addressing the shortage of mental health professionals through targeted skill development programs and promotion of tele-mental health services. Policies mandating mental health coverage in insurance plans, increased funding for mental health research, and the establishment of a national mental health database are also key expectations.

We particularly emphasise the need for increased funding to support early diagnosis and intervention programs for children with autism and neurodevelopmental delays. Additionally, we hope the government will expand the number of seats and courses in universities, ensuring the generation of more high-quality therapists to meet the growing demand.

We also anticipate initiatives to integrate mental health education into school curriculums and workplace wellness programs. Prioritising these aspects in the budget will enable India to make notable strides in building a mentally healthier society, fostering innovation, and improving care delivery across the nation”