Union Budget 2023: Finance Minister Nirmala Sitharaman will announce the upcoming Budget 2023-24 on 1st February 2023. Over the years, India has become one of the most preferred countries for medical tourism and healthcare services. Every year, the number of people coming to India from across the globe for getting various kinds of treatment is increasing.

Ahead of the budget, experts from the hospital segment have expectations like comprehensive treatment coverage, prioritisation of the rural healthcare system, enhancing medical education infrastructure among others.

Reduction in Custom Duties and GST for cancer care- According to Raj Gore, CEO, Healthcare Global enterprises Limited, to encourage investment in cancer hospitals and reduce the cost of treatment for patients, the government must reduce customs duties and GST on critical capital-intensive equipment, reagents/consumables used for cancer diagnostics, and anti-cancer drugs.

“Allocation of resources specifically towards scaling up HCW’s and equipping them with trained staff and cancer screening tools will enable early detection and accurate staging of cancer. Furthermore, the inclusion of key diagnostic options (PET scans, biopsies, genomics) and emerging treatment options (targeted therapy, immunotherapy) under all government schemes will offer all cancer patients the best chance of comprehensive treatment and better outcomes,” Gore.

Gore also emphasised that the government has been playing a significant role in making healthcare affordable by increasing population coverage under the government schemes from 3 percent to 32 percent in the last 15 years.

“The upcoming budget is expected to prioritize health deserving for an aspiring nation like India. The government has been playing a significant role in making healthcare affordable by increasing population coverage under the government schemes from 3 percent to 32 percent in the last 15 years. Initiatives like “Heal in India” and “Heal by India” are encouraging signs of realization of the healthcare sector’s global potential and the government’s willingness to support the private players,” he added.

Source: https://www.financialexpress.com/budget/budget-2023-hospitals-urge-govt-to-focus-on-reducing-gst-comprehensive-insurance-cover-public-private-partnerships-2963904/