The Union Budget 2024-25 has been well-received by India’s healthcare sector, particularly its diagnostic laboratories. With a focus on workforce development, domestic manufacturing, and essential healthcare services, industry leaders see this Budget as a catalyst for growth and sustainability.
Skilling Programs for Women: A Significant Step
Ameera Shah, Executive Chairperson of Metropolis Healthcare, lauds the government’s initiative to introduce targeted skilling programs for women. “Enhancing women’s involvement in the workforce is not only beneficial but essential for long-term development,” she asserts. Shah believes that empowering women, especially in sectors like healthcare, is vital for driving industry progress. By equipping women with the right skills and education, a more dynamic and innovative sector is assured.
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Metropolis Healthcare has aligned its efforts with the government’s focus on skilling. The company has partnered with Maharashtra State Skill University (MSSU) to launch MiLES—a comprehensive learning initiative tailored specifically for doctors and lab technicians. This program reflects Metropolis Healthcare’s commitment to advancing healthcare by investing in workforce development. Through MiLES, the company will concentrate on laboratory education and skilling to empower technical staff with the latest knowledge and skills, offering a range of certificate programs.
Support for Domestic Manufacturing
Dr. Aakaar Kapoor, CEO of City-X Ray & Scan Clinic, welcomes the Budget’s support for domestic manufacturing. He highlights the proposed changes in customs duty for X-ray tubes and flat panel detectors, which, according to him, will benefit the sector. “The government has proposed changes in the basic customs duty for X-ray tubes and flat panel detectors used in medical X-ray machines to support domestic manufacturing,” says Dr. Kapoor.
Additionally, Dr. Kapoor acknowledges the Budget’s provision to exempt three more medicines from customs duties, providing relief to cancer patients. He also notes the announcement of Digital Public Infrastructure Applications, which aim to enhance productivity and innovation across various sectors, including healthcare.
The Union Health Ministry’s budget has seen a significant increase of 12.59%, raising it from Rs 80,517.62 crore to Rs 90,658.63 crore. This increase is expected to bolster healthcare infrastructure and services. Over Rs 3 lakh crore has been allocated for women-led development, and the PMGKAY scheme, benefiting over 80 crore people, has been extended for five more years. Additionally, five new schemes will support 4.1 crore youth over the next five years with a central outlay of Rs 2 lakh crore.
Promoting Indigenous Manufacturing and Inclusive Growth
Dr. Harsh Mahajan, Founder & Chairman of Mahajan Imaging & Labs and Chairman of the FICCI Health Services Committee, describes the Budget as one of continuity and inclusive growth. “Exemption of three lifesaving medicines for cancer treatment is a welcome step,” he notes. Dr. Mahajan also praises the exemption of customs duty on components of X-ray tubes and digital detectors, which he believes will spur indigenous manufacturing of digital X-ray machines in India.
Image Source IIHMR Delhi
The allocation of funds for innovation and skilling is another positive aspect of the Budget. This initiative is expected to benefit those working in the healthcare sector, providing them with the necessary tools and knowledge to enhance their services.
Comprehensive Reactions to the Union Budget 2024-25
Ameera Shah, Executive Chairperson and Whole Time Director, Metropolis Healthcare
“We commend the government’s proactive approach in introducing targeted skilling programs for women. This initiative marks a pivotal advancement in boosting female workforce participation, which is crucial for achieving sustainable economic growth. As a woman leader, I am deeply committed to the belief that enhancing women’s involvement in the workforce is not only beneficial but essential for long-term development. Creating an empowering environment for women, particularly in sectors like healthcare, is key to driving industry progress. By equipping women with the right skills and education, we ensure a more dynamic and innovative sector.
We would also like to highlight that in alignment with the government’s focus on skilling, Metropolis Healthcare has partnered with Maharashtra State Skill University (MSSU) to launch MiLES—a comprehensive learning initiative tailored specifically for doctors and lab technicians. This program reflects our commitment to advancing healthcare by investing in the development of the workforce. We will concentrate on laboratory education and skilling to empower the technical staff with the latest knowledge and skills, offering a range of certificate programs.”
Dr. Aakaar Kapoor, CEO and Lead Medical Advisor, City-X Ray & Scan Clinic
“The nation embraces the Union Budget 2024 presented by our Finance Minister, Smt. Nirmala Sitharaman, with several key initiatives standing out. The government has proposed changes in the basic customs duty for X-ray tubes and flat panel detectors used in medical X-ray machines are set to support domestic manufacturing.
Additionally, the decision to fully exempt three more medicines from customs duties provide relief to cancer patients. The finance minister also proposed Digital Public Infrastructure Applications to enhance productivity and innovation across various sectors, including healthcare and announced the construction of a new medical college in Bihar. Furthermore, the Union Health Ministry’s budget has seen a 12.59% increase, raising it from Rs 80,517.62 crore to Rs 90,658.63 crores.
Over Rs 3 lakh crore is allocated for women-led development, and the PMGKAY scheme, benefiting over 80 crore people, has been extended for five more years. Five new schemes will support 4.1 crore youth over the next five years with a central outlay of Rs 2 lakh crore.”
Dr. Harsh Mahajan, Founder & Chairman, Mahajan Imaging & Labs and Chairman – FICCI Health Services Committee
“This is a Budget of continuity and for inclusive growth. Exemption of three lifesaving medicines for cancer treatment is a welcome step. Exemption of customs duty on components of X-ray tubes and digital detectors, will lead to spurring of indigenous manufacturing of digital X-ray machines in India. Allocation of funds for innovation and skilling will also help those who are working in the healthcare sector.”
Overall, the leaders of India’s diagnostic labs sector view the Union Budget 2024-25 as a positive step towards driving the healthcare industry towards progress and achieving sustainable economic growth. The Budget’s focus on workforce development, domestic manufacturing, and essential healthcare services is seen as a comprehensive approach to fostering growth and innovation in the healthcare sector.
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