The Union Budget 2024 unveils a comprehensive strategy for advancing toward a ‘Viksit Bharat’ (Developed India). By prioritizing digital public infrastructure, women-led development, cancer care affordability, and interdisciplinary research in healthcare, the Budget lays a strong foundation for economic growth and societal advancement.

A notable highlight of the Budget is its emphasis on women-led development, allocating over ₹3 lakh crore for schemes benefiting women and girls.

The Budget introduced crucial measures to reduce the cost of cancer diagnostics and treatments by cutting custom duties on a wide range of reagents and consumables used in cancer diagnostics, as well as on advanced chemotherapy drugs.

Cancer drugs such as Trastuzumab Deruxtecan, Osimertinib, and Durvalumab, previously taxed at 10 per cent, are now exempt from any custom duty, significantly reducing out-of-pocket expenses for patients.

Digital Public Infra

The government’s commitment to digital public infrastructure is a cornerstone of this year’s Budget.

In healthcare, technology has been pivotal in enhancing productivity and addressing economic disparities over the past decade.

The country needs to enhance primary care and 1.7 L PHC could be upgraded with x-rays if the input cost is reduced by manufacturing in India.

The establishment of the Anusandhan National Research Foundation (ANRF) marks a significant milestone in enhancing India’s healthcare sector.

With a dedicated budget and a mechanism to spur private sector-driven research and innovation at a commercial scale, the ANRF aims to drive high-impact research and development (R&D).

A financing pool of ₹1 lakh crore, in line with the interim budget announcement, will support advancements in medical technology, pharmaceutical sciences, and health services.

By fostering collaboration between academic institutions, industry, and government bodies, the ANRF will address contemporary healthcare challenges, improve disease prevention and treatment, and ultimately contribute to better health outcomes for the Indian population.

The Union Budget 2024 is a forward-looking document that aligns with India’s vision of becoming a developed nation by 2047.

The writer is JMD, Apollo Hospitals