Budget with 20:20 vision for future

The last budget laid out a framework for a USD 5 trillion economy by 2024-25, and Budget 2020 builds on this with great acumen.
Finance Minister Nirmala Sitharaman (Photo | AP)
Finance Minister Nirmala Sitharaman (Photo | AP)

The last budget laid out a framework for a USD 5 trillion economy by 2024-25, and Budget 2020 builds on this with great acumen. The Economic Survey had spoken about entrepreneurship as a strategy to fuel productivity growth and wealth creation. The budget with proposals that will facilitate and enable the entrepreneurial spirit has ensured that the economy will be on the fast track to growth.

It is indeed heartening to see a continuing focus on achieving ‘Health for All’ with concerted public health programmes like an extension of Mission Indradhanush.

This will help in generating a data repository of the immunized population for a better-equipped programme and policy planning. It will further feed into advancements and investments in the biotechnology sector to improve health outcomes of the population.

The special focus on women and child welfare continue with a task force to be set up on lowering maternal mortality and improving nutritional levels. The budget shows that the Government is moving from intervening to enabling businesses and encouraging competition to spur investments and economic growth.

 
FICCI president & Joint
Managing Director, Apollo
Hospitals Enterprises Ltd

Numerous pro-business policies that cover the entire gamut from setting up to ease of doing business are the hallmark of the budget. The proposal for the single-window Investment Clearance Cell with end-to-end facilitation will provide a boost to the entrepreneurial spirit.  The proposals for viability gap funding to set up hospitals for Ayushman Bharat-PMJAY, as well as medical colleges to address the shortage of doctors, will bring together the best resources of both the private and public sector healthcare with immense potential to transform healthcare delivery’.

The budget is also mindful of the future of health and medicine with proposals for new medical colleges. It also addresses the issue of right skilling to ensure employability with apprenticeship embedded degree and diploma courses for practical on the job training for students. It envisages special bridge courses and foreign language training to meet the huge demand for skilled teachers, nurses, para-medical staff and caregivers abroad.

While the reduction in personal tax rate is welcome, it would have been prudent to allow the deduction for medical insurance keeping in view the rise in non-communicable diseases, along with the fact that India under-insured when it comes to health insurance.

It is hoped that this aspect will be examined to ensure that individuals are given encouragement to go in for medical insurance. Overall a budget with a 20:20 vision for the future, it keeps the focus on healthcare! 

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