Health care industry welcomes tax relief for differently-abled, dependents

Bengaluru: Health care industry welcomed the decision to provide tax relief for differently-abled and their dependents in the budget presented by Union Finance Minister Nirmala Sitaraman on Tuesday.

Executive Chairman, HealthCare Global Enterprises Limited, Dr B.S. Ajaikumar said, "I am happy to note that the government has decided to launch a national Tele Mental Health Program. The open program for the National Digital Health ecosystem is a welcome step given the widespread devastation caused by the Covid-19 pandemic, especially on the mental health of people across all age groups, from kids to senior citizens. Of course, much will depend on the quality of its implementation inequitably providing counseling and care services to people across the length and breadth of the country. Another welcome move is the decision to provide tax relief for the differently-abled and their dependents. Having said that, it is disappointing not to hear of any announcement on many critical areas facing the healthcare industry, like the urgent need to raise healthcare expenditure to at least around 2.5% of GDP."

He said, "Given the chronic issues facing healthcare in India, 1.8 percent falls short of addressing the lingering challenges on the ground. We also need universal health coverage to enforce uniformity of treatment through cross-subsidy, devoid of financial strain and debt traps for the economically challenged. I was also expecting heartening policy measures on many other key issues like the investments in tech-enabled systems using predictive genomics to fight the evolving mutations and likelihood of newer microorganisms, rationalization of the tax structure around life-saving drugs and emergency treatments, as also lowering of GST slabs and raising of tax deduction limits that are imperative to serve the larger cause of insurance."

Chief Operating Officer, IHH Healthcare, Dr Ananth N Rao says, "This year's budget has highlighted more on the Digital Health Ecosystem which played an important role during the pandemic. According to the budget announced by FM Nirmala Sitharaman an open platform for the National Digital Health Ecosystem will be soon rolled out, connecting the health facilities, health providers and majorly universal access to health facilities. Currently, the e-health market size has gained advantage during the pandemic and showcased a lot of our tech prowess. Ove 600 e-hospitals have been established across India as part of the central government's 'Digital India' initiative."

He said, primary health care access can be boosted by digitization. eSanjeevani telemedicine service introduced by Health Ministry, crossed 12 million teleconsultations since its launch, which enabled patient-to-doctor consultations, from the confines of their homes, and doctor-to-doctor consultations. This powerful tool of tele consultation has not only boosted the confidence of the patients and the healthcare system, but it has successfully given rural population access to healthcare needs, which has and will become a game changer.

Dr Azad Moopen, Founder Chairman and Managing Director, Aster DM Healthcare, "Digital registries of health providers and health facilities, unique health identity and universal access to health facilities under the National Digital Health Mission are positive steps towards enabling access to healthcare for the wider population. Similarly, we are glad that mental health and the challenges put forward by the pandemic are being tackled at the national level with the launch of Tele-Mental Health Programme. Upgrade of 2 lakh Anganwadis with better facilities will further enable the primary health care system and much needed health care support in remote & rural areas.

He said, "While it is good to see that the focus on Digitisation, Sustainability, Energy Conservation and Development of Infrastructure has taken a clear precedence in Union Budget 2022, the allocation towards healthcare is not to the level we anticipated. Coming out of the shadows of the pandemic, it is most important to allocate at least 3% of the Budget to healthcare."

"For the startup sector, the move on the extension of tax redemption by another year is a welcome move by the government. A very thoughtful and timely move by the FM is to open a platform for the National Digital Health Ecosystem and National Tele Mental Health Programme, to tackle the adversities of the pandemic. With the current pandemic wave in progress, continued support from the Government in terms of incentivisation for the sector, like Ayushman Bharath schemes will also help in ramping up infrastructure. Additionally, the governments' continued will to further speed up pay-outs to private hospitals, could lead to more acceptance of the government-run schemes across the sector," said Himesh Joshi, Co-founder and CEO, Ayu Health Hospitals.

Chairman and Managing Director, Trivitron Healthcare and Neuberg Diagnostics, Dr GSK Velu said, "As expected, Budget 22-23 was a balanced effort to improve overall economic growth. Today, the health care sector in India is at a much stronger position than ever before. Measures introduced in Budget 2022-23 will further strengthen the healthcare sector while focusing on prevailing challenges."

The rollout of a National Digital Health Ecosystem will ensure that all segments of the society are able to access affordable and adequate healthcare in a seamless and efficient manner. Such an ecosystem can potentially make universal healthcare a reality for India.

Further, the fact that mental health counselling and care services found a place in the budget is a testament to how far we have come as a country. Inarguably, the Covid pandemic has adversely affected the mental health of the population at large. Thus, the launch of a National Tele Mental Health program can play a catalytic role in both normalising conversations around mental health as well as ensuring that people are able to seek support for mental health related challenges.

Though there was not much for the medical devices industry directly in the Budget, the industry will benefit from the Government's increased focus on healthcare. The National healthcare mission outlay has been kept at Rs 37,000 crores like previous year and this is a bit disappointing, considering the fact our healthcare infrastructure needs big boost in the coming years. The demand from all healthcare experts was to increase healthcare outlay in the current budget.

The Neuberg Diagnostics, Group Vice Chairman, A Ganesan said, "Reduction of sur-charge to 12% on long term capital gains is welcome step.

Unintentional errors in Income Tax can be corrected by filing updated return within 2 years from the end of assessment year – This is a positive change. Department to wait before filing an appeal in higher court in respect of disputes of similar nature with regard to interpretation of law, in case cases of similar nature are pending in Supreme Court / other courts. This is also a very good step. Significant increase in capital expenditure allocation by almost 35% will probably spur economic growth and create jobs. Extension of emergency credit guarantee scheme till 31/03/2023 is a step in the right direction. National Digital Health Ecosystem , National Tele Mental Health Programme – Very god initiatives if implemented well."