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In the Union Budget, the Finance Minister has set the tone for fiscal prudence and consolidation, which is the need of the hour. Further, the Budget has signalled that the Government has laid down a roadmap for creating an investor-friendly climate which will put the country back on the growth path.
Imperative issues such as inflation control, revitalising the infrastructure sector, and providing a fillip to the manufacturing sector are the key themes of the Budget.
While healthcare insurance was not mentioned specifically, increase in FDI to 49 per cent in the insurance sector is an indication that healthcare insurance also stands to expand. The Budget also has a distinct public health tone.
The Government has proposed a nationwide sanitation mission and increased taxation on tobacco products. Both of these initiatives are directly linked to the issue of prevention of communicable and non-communicable diseases.
As for specific policy, visa-on-arrival is positive for medical tourism which is a growing subset within healthcare.
(The writer is Managing Director, Apollo Hospitals)
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