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India's government <keyword id="21309215" type="General" weightage="20" keywordseo="healthcare-spending" source="keywords">healthcare spending</keyword> appears to be on the rise, but a closer look reveals a concerning trend. While the headline figures might suggest an increase, the reality is a steady decline in health expenditure as a proportion of both the <keyword id="19936553" type="General" weightage="20" keywordseo="budget" source="keywords">budget</keyword> and GDP over the past five years (2018-19 to 2023-24). This decline is even starker when adjusted for inflation. In real terms, spending has barely kept pace since 2019-20. As a percentage of the total budget, health spending has shrunk from 2.4% in 2018-19 to just 1.9% in 2023-24. Similarly, the share of GDP allocated to health has fallen from 0.30% to 0.28%, as per a report from the Times of India. <h2>Growing expectations ahead of <keyword id="15478236" type="General" weightage="20" keywordseo="budget-2024" source="Orion">Budget 2024</keyword></h2>As the Finance Minister <keyword id="19916618" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="keywords">Nirmala Sitharaman</keyword> prepares to present the full budget for the current fiscal on July 23, the expectations from the health sector has only been growing. “The Union Budget 2024-25 is a pivotal moment for India's healthcare sector. Building on the ₹64,180 crores allocated in 2023-24 under the Pradhan Mantri Atmanirbhar Swasth Bharat Yojana, we need enhanced tax incentives and financial support for healthcare startups to catalyze innovation. Significant investments in <keyword id="21226679" type="General" weightage="20" keywordseo="digital-health-infrastructure" source="keywords">digital health infrastructure</keyword>, particularly AI, will improve patient outcomes and operational efficiency,” says Dr Sravani Reddy G, Founder &amp; CEO, Soprav Healthcare Consulting. “Strengthening public-private partnerships will improve healthcare accessibility and quality, leveraging private sector efficiency. Additionally, focused efforts on affordability and access, such as reducing out-of-pocket expenses and improving insurance coverage, are vital for a more equitable healthcare system.” “The healthcare sector in India is on the brink of excellence. There is an increased focus on treating unique patient cases, robotic surgeries, and increasing prominence of AI for accurate diagnosis. To reach the next phase, emphasis must be laid on innovation, research &amp; development, and infrastructure development. These are the foundations for India’s health sector to achieve an international standard of treatment for all,” hopes Joseph Pasangha, Group COO, SPARSH Hospital, Bengaluru. <div type="Article" hostid="261" msid="111730426" title="Pan-India rollout of U-WIN to track routine immunisations likely by Aug end" mstype="2" mssubtype="0"></div> <h2>Health tax not helping enough </h2>This situation is further complicated by the introduction of the <keyword id="22446013" type="General" weightage="20" keywordseo="health-cess" source="keywords">health cess</keyword> in 2018. This tax levy was intended to boost government spending on healthcare, particularly for the underprivileged. However, the collected funds seem to be merely filling the gap created by cuts to regular budgetary allocations for health. In 2022-23, over Rs 18,300 crore of the central government's health spending came from the health cess. Excluding this amount, the actual budgetary allocation for health stands at a concerning Rs 59,840 crore. This is lower than the pre-pandemic level of Rs 66,042 crore allocated in 2019-20, even without adjusting for inflation. <h2>Where's the money going?</h2>The intended purpose of the health cess seems to be falling short. In 2018, health spending accounted for 2.4% of the government's total expenditure. If this ratio had remained constant in 2023-24, the health budget should have been over Rs 1.07 lakh crore. Instead, the revised expenditure, including the health cess, stands at just Rs 83,400 crore. Even the additional allocations for the COVID-19 pandemic (Rs 10,655 crore and Rs 15,955 crore in 2020-21 and 2021-22 respectively) cannot mask the overall decline. When combined with the regular health budget (excluding health cess), the total spending in these years still falls short of what it would have been if the 2.4% share of 2018-19 had been maintained. <h2>More for alternative medicine</h2>While the share allocated to Ayush (Ayurveda, Yoga &amp; Naturopathy, Unani, Siddha and Homeopathy) has seen a significant increase, spending on crucial areas like health research has seen only marginal growth. Additionally, a major portion of research funding goes to the Indian Council of Medical Research, with only a temporary increase during the peak of the pandemic response. The most concerning decrease is in the allocation for health and family welfare, encompassing national programs, the National Health Mission, and health system strengthening. This critical area has seen a substantial decline in its share of both GDP and total budget expenditure, falling from a peak of over 2% in 2017-18 to a mere 1.7% in 2023-24. Excluding the health cess, this figure drops even further to 1.5%. <h2>What this means</h2>This decline in government health spending raises serious concerns about India's commitment to public healthcare, particularly for its most vulnerable populations. Increased investment in health is crucial for a growing nation like India, and a reversal of this downward trend is essential to ensure accessible and quality healthcare for all. The 2024 Interim Health Budget saw a boost in total healthcare expenditure from Rs. 79,221 crore to Rs. 90,171 crore. Experts have opined that The healthcare budget should encompass at least 2.5% of the total budget. But it remains to be seen how the exact picture will turn out to be on July 23. “The 2024-25 budget presents an opportunity to build on past successes while addressing shortcomings, ensuring that India's healthcare system remains resilient, innovative, and patient-centric. This budget can pave the way for a healthier, more equitable future for all," concludes Dr Reddy. (With inputs from TOI) <div type="Article" hostid="261" msid="111689743" title="Union Budget 2024: A handy FAQ guide to decode the upcoming budget" mstype="2" mssubtype="0"></div>

Despite pandemic and growing health scares, India’s budget share for healthcare continues to decline

While the Indian economy was already reeling under the slowdown, the coronavirus blow just made it worse. And, now all eyes are on the Finance Minister <keyword id="129243" type="PERSON" weightage="20" keywordseo="Nirmala-Sitharaman">Nirmala Sitharaman</keyword> today on February 1, as she tables the budget for the next fiscal year in the Lok Sabha. <ol><li>What is the budget for COVID support? Finance Minister Nirmala Sitharaman allocates Rs. 27.1 lakh crore for COVID support.</li><li>What is the health care budget? FM Nirmala Sitharaman allocates Rs. 2,34,846 crore for health care for FY 2021-22.</li><li>What is the budget for Railways for FY 2021-22? FM allocates Rs. 1.10 lakh crore for Railways for FY 2021-22.</li><li>What is the Power sector budget for FY 2021-22? Rs. 3.05 lakh crore have been allocated for power sector by FM Sitharaman during the Union Budget 2021 session.</li><li>What is the budget for Swachh Bharat Abhiyan? Rs. 1.42 lakh crore have been allocated for Swachh Bharat Abhiyan 2.0 by FM Nirmala Sitharaman announced during Union Budget 2021 session.</li><li>What is the budget for Atmanirbhar Health Yojana? FM announces Atmanirbhar Health Yojana with an outlay of ₹64,180 crore over 6 years.</li><li>What is the Infrastructure budget for FY 2021-22? FM Sitharaman allocates Rs. 20,000 crore for Infrastructure for the fiscal year 2021-22.</li><li>What is the capital expenditure for FY 2021-22? The government has increased the capital expenditure from Rs. 4.39 lakh crore last year to Rs. 5.54 lakh crore for FY 2021-22.</li><li>What is the budget for Jal Jeevan Mission? FM Sitharamn allocates Rs. 2.87 lakh crore to Jal Jeevan mission for FY 2021-22.</li><li>What is the Defence budget for FY 2021-22? For FY 2021-21, Rs. 4.78 lakh crore have been allocated for the defence ministry.</li><li>What are the changes in Income Tax slabs for FY 2021-22? Budget 2021 does not lay down any change in income tax slabs.</li></ol><table><tbody><tr><td>Income</td><td>Old Tax Regime Rate</td><td>Old Tax Regime Rate</td></tr><tr><td>Up to ₹2.5 lakh</td><td>Nil</td><td>Nil</td></tr><tr><td>₹2.5 lakh to ₹5 lakh</td><td>5%</td><td>5%</td></tr><tr><td>₹5 lakh to ₹7.5 lakh</td><td>20%</td><td>10%</td></tr><tr><td>₹7.5 lakh to ₹10 lakh</td><td>20%</td><td>15%</td></tr><tr><td>₹10 lakh to ₹12.5 lakh</td><td>30%</td><td>20%</td></tr><tr><td>₹12.5 lakh to ₹15 lakh</td><td>30%</td><td>25%</td></tr><tr><td>Above ₹15 lakh</td><td>30%</td><td>30%</td></tr></tbody></table> SEE ALSO: <a href="https://www.businessinsider.in/budget/news/india-budget-2021-updates-and-highlights-from-nirmala-sitharaman-speech/articleshow/80624564.cms" data-type="tilCustomLink">Union Budget 2021 highlights: Migrant and gig workers to get minimum wages, social security</a> <a href="https://www.businessinsider.in/budget/news/india-union-budget-2021-live-news-and-highlights/liveblog/80621593.cms" data-type="tilCustomLink">Budget 2021 Live Updates : A big jump in health budget, higher foreign investment in insurance and special emphasis on agriculture feature in Sitharaman's speech</a> <a href="https://www.businessinsider.in/budget/news/union-budget-2021-updates-and-key-highlights/slidelist/80625069.cms" data-type="tilCustomLink">Checkout India’s budget 2021 key Highlights</a>

Union Budget 2021 FAQs: Checkout funds allocation in different sectors

<ul><li>The Finance Ministry has increased the threshold limit for the difference between the transaction value and the circle rate to 20% from the current 10%. </li><li>This means under a circle rate of ₹1.2 crore, <keyword id="6371902" type="UNKNOWN" weightage="20" keywordseo="home-buyers">home buyers</keyword> can buy a house of upto ₹1.5 crore rather than just ₹1.33 crore to avail the tax benefits.</li><li>This is the second time that the government has revised the limit — the first was in February when the differential was increased from 5% to 10%.</li></ul>With the prices of homes falling and mortgages being lower than ever, the Finance Ministry has announced <keyword id="422910" type="PERSON" weightage="20" keywordseo="income-tax-relief">income tax relief</keyword> for home buyers and developers. “There’s a lot of inventory, we’re told, in the real estate sector,” said Finance Minister Nirmala Sitharaman during today’s press conference on November 12. <div type="Article" hostid="261" msid="79187044" title="$35 billion Diwali stimulus: Highlights from Finance Minister Nirmala Sitharaman's press conference" mstype="2" mssubtype="0"></div> The government has increased the threshold limit for the difference between the transaction value and the circle rate to 20% from the current 10%. This is the second revision of the limit done by India. The first was in February when the differential was increased from 5% to 10%. What is circle rate and why should I care? Right now, if there is a difference between the cost of the home and the circle rate set by the government. If that difference is more than 10%, any excess income is accounted for as the buyer’s income. Since it comes into the income basket, it is also taxed at the same nominal rates. But going forward, for homes under the price of ₹2 crore, this differential will be increased from 10% to 20% for next seven months, until 30 June 2021. This means that if for instance, if the circle rate is ₹1.2 crore, the price of the home can’t be more ₹1.5 crore for buyers to remain within the 20% differential. Had the limit been 10%, the choice of purchasing a home would be limited to around ₹1.33 crore. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Circle rate (assumed) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Home price (assumed) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2 crore </td></tr></tbody></table> <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Existing policy </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">New policy </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Excess allowed </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹10 lakh </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹20 lakh </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Taxable amount </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹90 lakh </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹80 lakh </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tax (assuming a rate of 30%) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2.7 lakh </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2.4 lakh </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Savings </td><td colspan="2" style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹30,000 </td></tr></tbody></table> However, it’s important to note that property prices, circle rates or even demand trends are not uniform across the country. So cities are witnessing better growth which allows for higher prices, while others are lagging behind and will have more to benefit from under the new limit. What’s in it for the developers? It's also a boon for developers, because they can now offer their property at lower rates than the prevailing circle rates. This allows them to monetise any idle assets they haven’t been able to move yet. Clearing their existing inventory in turn allows developers to generate more liquidity to start up new projects or clear liabilities on existing ones. "The <keyword id="6354751" type="UNKNOWN" weightage="20" keywordseo="income-tax">income tax</keyword> relief will ensure tremendous liquidity into the market and the measures will incentivize people to buy homes and is a win-win situation for both developers and home buyers. The reduction in bank guarantees for construction activity will also ensure availability of additional liquidity providing major relief to the industry." Lincoln Bennet Rodrigues, Founder and Chairman, Goa-based Bennet &amp; Bernard Group said. SEE ALSO: <a href="https://www.businessinsider.in/policy/economy/news/diwali-stimulus-highlights-from-finance-minister-nirmala-sitharaman-press-conference-on-atmanirbhar-bharat-programme/articleshow/79187044.cms">Diwali stimulus: Highlights from Finance Minister Nirmala Sitharaman's press conference</a> <a href="https://www.businessinsider.in/policy/economy/news/atmanirbhar-bharat-indian-fm-nirmala-sitharaman-shared-the-progress-of-the-atmanirbhar-abhiyaan/slidelist/79187890.cms">Atmanirbhar Bharat: Indian government’s report card on the implementation of the COVID stimulus so far</a> <a href="https://www.businessinsider.in/finance/news/what-is-atmanirbhar-bharat-rozgar-yojana-scheme-and-what-is-benefits-of-employees-and-companies/articleshow/79188487.cms">Atmanirbhar Bharat Rozgar Yojana: FM announces benefits for EPFO-registered firms hiring new employees — centre to bear PF for new employees</a>

India offers income tax relief for home buyers and developers to boost new property sales

<ul><li><keyword id="4998506" type="PERSON" weightage="20" keywordseo="pubg">PUBG</keyword> Corporation announced that it will soon be launching <keyword id="6409600" type="UNKNOWN" weightage="20" keywordseo="PUBG-MOBILE">PUBG Mobile</keyword> India, which will be a new game made specifically for the Indian market. </li><li>For the new version of PUBG, the company will set up an Indian subsidiary with a local office in the country and will also hire 100 employees to begin with. </li><li>The company has also said that it will put more focus on privacy and security in India. </li></ul>Popular <keyword id="2148326" type="PERSON" weightage="20" keywordseo="gaming-app">gaming app</keyword> PUBG, which had been banned in India because of its Chinese origins in September under Article 69A of the Information Technology (IT) Act, is all set to make a comeback in India. The company behind the game – PUBG Corporation announced that it will soon be launching PUBG Mobile India, which will be a new game made specifically for the Indian market. PUBG Corporation is a subsidiary of the South Korea-based KRAFTON, Inc. Earlier the company had also signed a partnership with <a href="https://www.businessinsider.in/tech/apps/news/pubg-mobile-could-return-to-india-riding-on-microsofts-azure-cloud-service/articleshow/79127963.cms">Microsoft Azure’s cloud service</a>. For the new version of PUBG, the company will set up an Indian subsidiary with a local office in the country and will also hire 100 employees to begin with. After being banned in India over suspicions of data being shared with China, the company has said that it will put more focus on privacy and security in India. “The company will conduct regular audits and verifications on the storage systems holding Indian users’ personally identifiable information to reinforce security and ensure that their data is safely managed,” said the company in a statement. To further set up a strong foothold in India, PUBG Corporation also said that it would be investing $100 million to build the country’s gaming environment. “The company also plans to make investments by hosting India-exclusive esports events, which will feature the biggest tournaments, the largest prize pools, and the best tournament productions,” said the statement. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/pubg-mobile-could-return-to-india-riding-on-microsofts-azure-cloud-service/articleshow/79127963.cms">PUBG Mobile could return to India riding on Microsoft’s Azure cloud service</a> <a href="https://www.businessinsider.in/policy/economy/news/diwali-stimulus-highlights-from-finance-minister-nirmala-sitharaman-press-conference-on-atmanirbhar-bharat-programme/articleshow/79187044.cms">Here's the break up of India's $35 billion Diwali stimulus</a> <a href="https://www.businessinsider.in/finance/news/what-is-atmanirbhar-bharat-rozgar-yojana-scheme-and-what-is-benefits-of-employees-and-companies/articleshow/79188487.cms">What is Atmanirbhar Bharat Rozgar Yojana</a>

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Despite pandemic and growing health scares, India’s budget share for healthcare continues to decline

Ashmita Gupta

Union Budget 2021 FAQs: Checkout funds allocation in different sectors

BI India Bureau

India offers income tax relief for home buyers and developers to boost new property sales

Prabhjote Gill

PUBG set for a comeback in India – to set up a local office, hire 100 employees and invest $100 million in the Indian market

Sanchita Dash

Here’s how the advertising and marketing industry reacted to Union Budget 2021

BI India Partner

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