FICCI President Sangita Reddy on Healthcare in Union Budget 2020-21

‏Healthwire Bureau

New Delhi, February 1– Sangeeta Reddy, President FICCI and Joint Managing Director, Apollo Hospitals, on healthcare aspect of Union Budget 2020-21 presented in Parliament today by Nirmala Sitharaman.

Important Observations:

On Ayushman Bharat

“Focus on Ayushman Bharat is clearly something which is very good. I think the incentive to the medical manufacturing sector is something which should boost the manufacturing industry in the country. In the same breath I think it is important to lay down quality standards.”

On Import Cess on Medical Devices

“Naturally this is going to hit the patients, so for the higher end patient it will increase the cost but the hope is with the enhanced coverage by insurance covered under the insurance so hopefully the out of pocket expenditure should not go up and insurance net being wider will help to enable coverage.”

On Tax Cut and Growth

“What spurs growth is the money in the hands of people. So the tax reduction is potentially a direct transfer of money to the hand of the people which will be spent. This spending spurs consumption. From consumption brings growth of industry because the industry regains the sentiment for production manufacturing and servicing.”

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