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Industry Seeks Clarity on India’s 2024 Tech Investment in Health: What You Need to Know

by Tech Desk
2 minutes read
Industry Seeks Clarity on India’s 2024 Tech Investment in Health: What You Need to Know

Ahead of the upcoming 18th Lok Sabha (lower house of India’s bicameral parliament) elections, Union Finance Minister Nirmala Sitharaman announced the government’s interim budget for 2024-2025. The budget includes a substantial increase in healthcare spending, signaling the government’s commitment to improving healthcare infrastructure and accessibility in the country.

According to the announcement, India plans to spend a provisional sum of Rs 90,171 crore ($10.8 billion) on healthcare in the next fiscal year, up from Rs 79,221 crore ($9.5 billion) previously. This increased allocation will support several key projects aimed at enhancing healthcare services and addressing critical health issues across the nation.

One of the significant initiatives is the expansion of the health insurance scheme, Ayushman Bharat Pradhan Mantri Jan Arogya Yojana, to include 1.5 million community health workers called ASHA (accredited social health activist) and rural child care workers and helpers (Anganwadi). Additionally, there are plans to establish more medical and nursing schools to help address the shortage of medical professionals in India.

The government also intends to launch a nationwide vaccination campaign aimed at preventing cervical cancer among girls aged 9 to 14 years as part of Mission Indradhanush’s goal of achieving 90% vaccination coverage for Indian children. Furthermore, there will be an increased focus on improving nutrition and services by enhancing Anganwadi centers and boosting research and development in biotechnology.

While these initiatives have been welcomed by many in the healthcare industry, some experts have raised concerns about certain areas that require further clarity and attention. Dr. Prathap C. Reddy, chairman of Apollo Hospitals, commended the government’s decision to allocate a significant budget for states to provide interest-free loans for research and innovation in emerging sectors such as health technology. However, he urged for an increase in tax exemption for preventive healthcare given the rising cases of non-communicable diseases.

Dr. Reddy emphasized that India needs to intensify its focus on innovation and research to overcome looming disease burdens such as antimicrobial resistance and undetected heart diseases and cancers. He believes that innovative solutions are crucial for making healthcare accessible and affordable across India.

Meanwhile, Rustom Lawyer, CEO and founder of Augnito expressed optimism about potential developments in AI-powered healthcare but highlighted uncertainties surrounding concrete AI plans in healthcare within this interim budget announcement.

As we await greater clarity in July’s official budget release, it is imperative for India to lay out a dedicated roadmap for AI-powered healthcare while establishing national AI research centers with strong ethical frameworks. This approach would ensure responsible implementation while leveraging technology advancements such as personalized medicine tailored treatments powered by AI diagnostics supporting remote doctors in rural areas.

Moreover, breaking down data silos through standardized formats can foster collaboration among researchers while ensuring patient privacy safeguards are upheld through investments in cybersecurity measures.

It is clear that investing strategically in digital literacy training alongside equipping healthcare professionals with AI skills will be essential moving forward if we aim to create a transformative digital health ecosystem that empowers individuals while propelling India into a healthier future.

The heart,

Source: (Healthcare IT News)(https://www.healthcareitnews.com/news/asia/industry-seeks-clarity-indias-2024-tech-investment-health)

By incorporating these strategic areas into our long-term planning efforts can pave way towards creating an inclusive digital health ecosystem focused on empowering people through technology-driven interventions aimed at transforming how we deliver quality care across diverse communities within India.

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