A VIRUS HAS ALERTED the whole wide world to the importance of public expenditure on health and India has been pro-active in combatting the coronavirus right from the start. Union Finance Minister Nirmala Sitharaman informed the Lok Sabha on 1 February that the government would spend Rs 64,180 crore over the next six years to improve healthcare services. She said 95 per cent of 112 aspirational districts have made significant progress on healthcare infrastructure and other parameters and efforts would now be made to work on districts that were lagging behind. The high points of the government stance in tackling the enormous needs of healthcare in India, however, are not really the amount of money the government intends to spend, but the issues it addresses, namely the growing menace of mental health in pandemic-driven times and putting healthcare on a digital framework. Both the initiatives have received applause all around.
Even so, as the Economic Survey for the 2021-2022 financial year tabled in Parliament on 28 January points out, India ranks 179 out of 189 countries who have prioritised health in their government budgets. So, a great deal remains to be done. Since health is a state subject in India, spending on healthcare by the states matters the most when inspecting government healthcare spendings. The document indicates that a one per cent increase in public spending to 2.5-3 per cent of GDP could decrease out-of-pocket expenditures (read personal spendings) from 65 per cent to 30 per cent of the overall healthcare expenditure.
KEY HIGHLIGHTS:
1. Rolling out of an open platform for the National Digital Health Ecosystem
This story is from the February 09, 2022 edition of Businessworld.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the February 09, 2022 edition of Businessworld.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Gauging Trumponomics For India
Despite some shortto mediumterm headwinds in trade and immigration, the broader Indo-US vision of counterbalancing China’s influence is expected to ensure continued cooperation under Trump 2.0
Reflections on Consciousness and Creation
Indian-American DEEPAK CHOPRA on the nature of the universe, the digital fabric of existence, and the power of a conscious mind
MORE TAKE TO DRIVING IN STYLE
High-end luxury vehicles are no longer part of a niche market, but a rapidly expanding segment of automobile sales, driven by changing consumer preferences, rising disposable incomes and better infrastructure
India's Growing Affinity for Swiss Watches: A Luxury on the Rise
NDIA'S ROBUST ECONOMIC growth, projected to exceed 6 per cent in 2024 and 2025, is fostering a rising demand for aspirational products. As disposable incomes increase, particularly among the expanding middle class, luxury goods such as Swiss-made watches are gaining popularity.
An ENRiching Outlook
KPMG's latest report shows energy CEOs being optimistic about the sector's outlook. ANISH DE, Global Head, ENRC, KPMG speaks to BW Businessworld's Arjun Yadav on what's driving this confidence
Paving the Path to a Sustainable Future
Salesforce's ESG journey has made an impact beyond the company. SUNYA NORMAN, SVP of ESG Strategy and Engagement at Salesforce, shares more on how the tech giant integrates sustainability into its core operations, supporting global goals while empowering employees
LEADERSHIP TRANSITION AT XIAOMI INDIA
Xiaomi India is experiencing a leadership evolution, beginning with Muralikrishnan B's departure as President by the end of 2024. This change underscores Xiaomi's shift towards nurturing local talent amidst dynamic global shifts. The story tracks key transitions from Manu Kumar Jain's leadership to Muralikrishnan B's impactful tenure, along with recent strategic hires, highlighting Xiaomi's alignment towards market adaptability and consumer focus
WEAVING SUSTAINABILITY
Once a modest home textile manufacturer, Jindal Worldwide has evolved into a vertically integrated textile powerhouse, spanning critical segments of the yarn and fabric value chain
FORCE FOR GOOD
FY24 saw capacity expansions for Century Enka in nylon and polyester segments, along with investments in modernisation, renewable energy, and safety initiatives
REIMAGINING TOMORROW
For V-Guard, tomorrow signifies progress, driven by today's actions, setting the foundation for future growth and value creation for all stakeholders