Budget 2022 Expectations: The healthcare sector is one of the most important sectors that may receive the government’s attention during the Union Budget 2022, given the ongoing Covid-19 pandemic and the recent surge in cases fueled by the Omicron version of the coronavirus. Last year, the government put the healthcare sector ahead of everything to support the COVID-19 vaccination program and the industry expects a similar allocation this year when Finance Minister Nirmala Sitharaman budgets for the next fiscal. Will present
The Union Budget 2022-23 is to be presented by Nirmala Sitharaman at 11 am on February 1, a day after the budget session begins in Parliament. with healthcare sector As a whole, the health-tech sector also has its own demands.
Tax deduction on import duty of essential diagnostic equipment
As the healthcare sector is on its way to recovery, the government is providing them with support through the pandemic, experts believe, leaving more room for the government during this time. Budget 2022,
Dheeraj Jain, Founder, Radcliffe Labs, said, “Tax cut on import duty of diagnostic devices, remunerative tax rates to attract investments and considering healthcare for zero-rated GST can be important steps by the government.”
“Reduction in import duty on critical components required by device manufacturers is an urgent area of attention. We hope the government will address these concerns and support domestic medical device manufacturers.”
Budget 2022 should focus on holistic approach towards healthcare
“We expect the Government of India to take some important financial steps with simplification of GST conditions for all healthcare providers. Any organization distributing, facilitating or coordinating health services should be exempted from GST, even if they are not clinical establishments themselves. Streamlining these issues is critical for modern healthcare companies,” said Sanjay Vinayak, Founder and CEO, Connect & Heal.
With regard to the healthcare sector, the major focus of Budget 2022 should be increased health care expenditure to meet the up-gradation of medical infrastructure, experts are of the view.
Dheeraj Jain, Founder, Crysta IVF, said, “The budget should also promise investments in the development of ICU facilities, diagnostic laboratories and fertility treatments as these medical expertise areas are a key element in attracting revenue and in India’s overall growth. has the potential to be.” ,
Medical equipment, allocation for equipment
“We expect the government to make substantial budgetary allocation for development of new equipment and technology and for manufacturing of state-of-the-art portable diagnostic, remote monitoring and telemedicine equipment,” Mehta said. Use of advanced software-based solutions.
“Clinical companies to be specific are using advanced techniques in early diagnosis and prediction analysis that provide health care experts with early insight into complex health conditions. Upcoming budgets for R&D in terms of development of new technologies Increased investment is expected to focus more on those that are capable of providing fast and efficient healthcare at affordable cost,” said Jain on Budget 2022.
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