00:00Health sector has a lot of expectations from the upcoming budget.
00:07Insurance companies related to this sector are hoping that the government will give them
00:12benefits and they will get a lot of benefits from the budget.
00:15Like every sector, the health sector also has expectations of benefits in the budget
00:19presented by the union on 1st February.
00:21The Finance Minister has allotted Rs 90,958.63 crores for health services for the financial year 2024-25,
00:30which is more than 12.96% of the previous financial year estimates.
00:36Only 1st February will know how much the government will focus on healthcare in the budget this year.
00:42Before the government's budget announcement, people are hoping to get a cheap treatment this time.
00:48It is expected that the Finance Minister, Nirmala Sitharaman,
00:53can increase the allotment by 10% for the health sector.
00:57Equal GST is also being demanded on medical devices.
01:02Before the Finance Minister's budget announcement, health experts are demanding
01:07that the government should come up with a plan to control non-communicable diseases,
01:12i.e. increasing cases of NSD.
01:15At the same time, 75,000 seats are being allocated in medical colleges.
01:23It is believed that the Finance Minister can increase telehealth and digital treatment
01:29so that the pressure on hospitals can be reduced.
01:32The government has started a campaign to end TB.
01:35It is believed that funds can be allotted for this.
01:40This time, the budget is expected to bring GST to zero or 5% on health services from 2025.
01:48At the same time, the government can put pressure on the importance of insurance reforms.
01:53In the last budget, all elderly people above the age of 70
01:59got the benefit of free health insurance up to Rs. 5 lakh in Ayushman Bharat Pradhan Mantri Jan Aarogya Yojana, i.e. ABPMJ.
02:05At the same time, the central government announced tax-free treatment of three medicines
02:10used in cancer treatment in the last budget.
02:13In the financial year 2024-25, the budget allotment for Ayushmantralaya was increased from Rs. 3000 crores to Rs. 3712.49 crores.
02:25According to a report, the CEO of SBI General Insurance, Naveen Chandra Jha,
02:30has said that the health sector is seeing continuous growth.
02:34Therefore, it is expected that the government can make some announcements in the budget to strengthen this sector.
02:40He said that by 2047, the government can issue funds for all to achieve the goal of insurance for everyone.
02:52In addition, the government can also make some plans to reach remote areas digitally.
02:58According to the report of the Insurance Regulatory and Development Authority of India, i.e. IRDAI,
03:03in 2023, there was a reduction in the insurance cover in comparison to the year 2022-23.
03:09The number of insurers, which was 4% in 2023, has decreased to 3.7%.
03:15To increase this, the government can make some announcements in the budget.
03:19For term insurance, a separate tax deduction can be started.
03:22Under the new tax system, decisions can be taken on the tax deduction on the life insurance premium.
03:29It will be interesting to see what the health sector gets in the union budget presented on February 1.
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