Indian Union Budget 2022: What is New in Healthcare Sector?

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Highlights:

• Union Budget 2022 by Union Finance Minister Nirmala Sitharaman announced for faster economic growth of the country
• The new budget underlines digital healthcare and the fight against climate change
• The launch of the National Digital Health Ecosystem is bestowed with a unique health identity and universal access to health facilities for everyone

Union Budget 2022 was announced by Union Finance Minister (FM) Nirmala Sitharaman on February 1, 2022 (today) - this year being her fourth budget after 2019, 2020, and 2021.

The speech was initiated by acknowledging the Omicron wave and conveying empathy for all those who suffered during the COVID-19 pandemic.

‘Union Finance Minister Nirmala Sitharaman has announced the second Union Budget 2022 during the current COVID-19 pandemic today (February 1, 2022) that emphasizes digital healthcare in the country. ’

Digital healthcare and the fight against climate change in the country were focused on by highlighting the mental health and other health crisis fronting the country.

Proclamations on Nutrition and Health Issues

• Access to tap water to 3.8 crore households were done by allocating Rs. 60,000 crore by Finance Minister Nirmala Sitharaman
• The launch of a national tele-mental health program has been announced as COVID-19 pandemic has elevated the mental health issues among public
• "An open platform for the National Digital Health Ecosystem will be rolled out. It will consist of digital registries of health providers and health facilities, unique health identity, and universal access to health facilities. The pandemic has accentuated mental health problems in people of all ages. To better access to quality mental health counselling and care services, a National Tele Mental Health program will be launched. This will include a network of 23 tele mental health centers of excellence with NIMHANS being the nodal center and IIIT Bangalore providing technical support," says Nirmala Sitharaman in the Parliament.
• Government plans to brand millet products nationally and internationally by providing support for post-harvest value addition and enhancing domestic consumption.
• "2023 has been announced as the International Year of Millets," says the FM.
• "Almost 95% of 112 aspirational districts have made significant progress in health, infracture," says the FM.

Other Key Highlights

• Two lakh Anganwadis (day care shelter for children) are planned to be upgraded with better facilities for women and child development.
• Four pilot projects (concerning the conversion of coal to energy) have been announced for the fight against climate change. "Risks of climate change are strongest externalities for the world," says the FM.
• Additional allocation of Rs. 19,500 crore has been done to facilitate domestic manufacturing of 280 gigawatts of installed solar capacity by 2030.
• A 2-year window shall be rewarded for all taxpayers to file revised returns.
• Tax reductions for disabled people have also been announced to ensure equality.
• "The parent or guardian of a person with a disability can take an insurance scheme for such person. The present law provides for a deduction to the parent or guardian only if the lump-sum payment or annuity is available to the person with a disability on the death of the parent or guardian," says the FM.
• Roll out of ePassports for overseas travel convenience, 2022-23 shall also be carried out.
• Special mobility zones have also been announced with zero fossil fuel policy for promoting a shift to public transport usage in urban areas.
• The electric vehicles (EV) sector may benefit from exclusive EV zones and focus on battery swapping policy.
• The fiscal deficit target of 6.4% of GDP for FY23 is above expectations.
• Domestic capacity shall be built by setting up animation, visual effects, gaming, and comics promotion task force.
• Necessary amendments in the IBC structure have also been proposed for promoting cross-border insolvency resolutions.
• Growth of national highway network by 25,000 km in 2022-23 and by 15% next fiscal has hiked up the shares of road construction companies - positive anticipation.
• With a 1% to 4% rise of Adani Green, Tata Power, Adani Power, BHEL, Siemens, and NTPC, the BSE Power index was up 1.5 %.
• Metro projects shall be fostered with innovative ways of financing and faster implementation by the government.
• The budget also focuses on empowering women, the youths, and the poor sections of the country with a target of creating 60 lakh jobs.

The 2022 budget thereby presents heavy investment in preventive care by fastening the efforts towards diagnostics, research, and emergencies. The budget also aims in maintaining the world's fastest-growing economy tag for India.

References:

1. Budget 2022: National Tele Mental Health program will be launched, says FM Nirmala Sitharaman - (https:www.cnbctv18.com/healthcare/budget-2022-national-tele-mental-health-program-will-be-launched-says-fm-nirmala-sitharaman-12319222.htm)
2. Expectations from Union Budget 2022: Diagnostics should be at the heart of India's healthcare focus - (https:www.financialexpress.com/budget/expectations-from-union-budget-2022-diagnostics-should-be-at-the-heart-of-indias-healthcare-focus/2422050/)
3. Budget 2022: Booster Dose For Healthcare Sector | Key Takeaways - (https:www.india.com/business/budget-2022-booster-dose-for-healthcare-sector-key-takeaways-nirmala-sitharaman-5216674/)
4. Budget 2022: FM Sitharaman announces launch of mental health programme - (https:www.indiatoday.in/business/budget-2022/story/union-budget-mental-health-programme-nirmala-sitharaman-1907132-2022-02-01)
5. Union Budget 2022 Highlights: Key Announcements Made By FM Nirmala Sitharaman For A Swachh And Swasth India - (https:swachhindia.ndtv.com/union-budget-2022-highlights-key-announcements-made-by-fm-nirmala-sitharaman-for-a-swachh-and-swasth-india-66346/)
6. Union Budget 2022 Date, Highlights, Income Tax, Summary PDF Download - (https:dmerharyana.org/union-budget/)

Source: Medindia

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