Experts see the forthcoming budget as an opportunity to improve healthcare disparities by perhaps increasing the GDP allotment from the current 1.6% to 2.5%, in line with the recommendation of NITI Aayog.
As India prepares the Interim Budget 2024-25, the healthcare industry stresses three important priorities: Research and development, infrastructure enhancements, and managing non-communicable diseases (NCDs). Considering that India spends 1.8% of GDP on healthcare, less than the 6% global average, analysts saw the budget as a chance to increase expenditure to 2.5% of GDP, in line with NITI Aayog’s demand. It is recommended to promote private sector participation to expedite infrastructure development, which is consistent with the objective of achieving universal healthcare accessible.
By 2047, the pharmaceutical business in India hopes to be valued between $400 and 450 billion, with a focus on the life sciences and more innovation and research and development (R&D). Though pharmaceutical exports are expected to reach $130 billion by 2030, R&D spending is now much below the world average at 1.2% of GDP. In order to fully realize India’s potential as a pharmaceutical powerhouse, Sudarshan Jain, Secretary General of the Indian Pharmaceutical Alliance, emphasized the significance of putting favorable regulations into place and taking advantage of tax breaks.
Despite having 3 million nurses and 1.3 million doctors, India’s healthcare system still has problems because of the unequal distribution of human resources. The union health ministry reports that there is an acute shortage in rural areas, with a doctor-to-patient ratio of 1:847, far higher than the WHO’s advised ratio of 1:1000. Lack of skills, high rates of job openings, and unappealing working conditions in rural areas all contribute to this scarcity.
India is tackling the shortage in primary care with a multifaceted strategy, despite having nearly 5 million auxiliary healthcare professionals. The Indian Medical Council, Indian Nursing Council, and other regulatory authorities, as well as the Ministry of Health and Family Welfare, support higher healthcare spending, better rural healthcare incentives, and better training for healthcare workers. The promoter and managing director of Metropolis Healthcare, Ameera Shah, highlights the dire need for more doctors and nurses in the country and calls on the government to significantly boost funding for modernizing healthcare facilities, improving patient safety, and giving rural healthcare development top priority.
A growing concern to India’s healthcare system is the rising prevalence of non-communicable diseases (NCDs). According to a 2020 Indian Council of Medical Research (ICMR) report, 2.45 million people died from cardiovascular disease in 2019. There was a modest increase in the death rate from cardiovascular disease (CVD) in India between 2010 and 2020, according to a study published in The Lancet Regional Health – Americas in October 2023. Furthermore, according to the International Diabetes Federation’s 2023 Diabetes Atlas, 82.1 million adults in India are expected to have diabetes in 2023, an increase from the 77 million estimated in 2019.
In addition to cardiovascular illnesses (CVDs), chronic obstructive pulmonary disease (COPD) is becoming more common in India, particularly among women living in rural regions, according to a June 2022 study published in the Journal of Thoracic Disease. The most recent national cancer registry statistics from 2020 revealed an anticipated 1.32 million new cancer cases identified in India; however, detailed figures for 2022 and 2023 are not available. An older population and better cancer detection are two factors that are linked to trends that point to an overall increase in cancer incidence.
According to experts, Budget 2024 has the potential to be a game-changer because it can emphasize non-communicable diseases (NCDs) preventative care, build infrastructure, and spur innovation. Citing statistics indicating diabetes and heart disease account for more than 70% of deaths in India, Dr. Ashutosh Raghuvanshi, MD, CEO of Fortis Healthcare & President of NATHEALTH, underscored the seriousness of the situation. In keeping with the goals of the National Health Mission, he urged the government to adopt a proactive stance by greatly boosting funding for public health programs and screening activities, with an emphasis on early identification and preventative care.
The capacity of Budget 2024 to spur innovation, bolster infrastructure, and give priority to preventative treatment against non-communicable diseases (NCDs) has been emphasized by experts as having transformative potential. Citing statistics showing that diabetes and heart disease account for more than 70% of deaths in India, Dr. Ashutosh Raghuvanshi, MD, CEO of Fortis Healthcare & President of NATHEALTH, emphasized the seriousness of the situation. He recommended the government to adopt a proactive strategy, considerably increasing financing for public health programs and screening activities to focus on early identification and preventative care, aligning with the National Health Mission’s objectives.
