Home » The Union Budget Of 2022-23 Is More Significant Than Ever Before: Mr. Ananth

The Union Budget Of 2022-23 Is More Significant Than Ever Before: Mr. Ananth

by RTD Journal

The Union Budget in India is always eagerly awaited by everyone, from corporates to taxpayers, with all hopes attached to having simplified compliances. In the wake of the third Covid wave, there is a certain expectation in terms of rebates and relief from the Finance Ministry on Indirect and Direct taxes.

Keeping the current rise in the cases and surge over major parts of the country in view, Mr. Arjun Ananth, CEO Medall Healthcare Pvt Ltd.  said “The union budget of 2022-23 is more significant than ever before in the backdrop of the COVID-19 pandemic’s third wave. While the private sector has been on overdrive for offering diagnostic and preventive healthcare services, the expectation is that the Government allocates more funds for the preventive health and wellness segment. We are looking forward to the government increasing its share of public expenditure on healthcare to effectively combat the pandemic and its variants. The need of the hour is prevention. Early screening and prevention of ailments that can cause COVID-19 are of prime importance. Moreover, providing health insurance at subsidised premiums will go a long way in the large embracing of policies to shield them in the event of any sudden misfortune. The government should make it mandatory for the functioning of primary health care centres in rural, Tier 2, and Tier 3 cities with sufficient allocation of funds to enable them to function smoothly.”

“More importantly, sprucing such centres with the latest diagnostic equipment is important. Encouraging public-private partnership in the healthcare segment with subsidies and sops will put access to healthcare especially in rural, Tier 2, and Tier 3 cities within reach of the common man. The government can consider reintroducing tax holidays for investments in infrastructure in rural areas. Also, the government needs to significantly increase investments in funding researches on infectious diseases and strengthen the capabilities of institutions to be well prepared in handling situations that we are currently experiencing. Presently health services are exempt from GST due to which the industry is unable to avail input credit on purchases and credit. Last but not least import duties and processes on diagnostic equipment should be eased to enable smooth imports and make diagnostic services more affordable for the common man”  he added.

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