Budget 2024 Expectations Live Updates: Healthcare, Fintech, Agritech, Green Energy and other sectoral expectations

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₹50,000 for individuals, their spouses, and dependent children, and increasing the limit to ₹1 lakh for senior citizen parents. Additionally, the industry is pushing for tax exemptions on Health Savings Accounts (HSAs). This reform would enable individuals to allocate more resources towards future healthcare expenses, promoting a proactive approach to health and wellness planning."Simmardeep S Gill, MD & CEO, Sterling Hospitals, said, "The upcoming union budget is expected to bring important changes to the healthcare sector, addressing key needs and improving services.

We need rationalized GST rates and lower import tariffs on diagnostic equipment to make operations smoother and encourage local production, reducing our dependence on imports.India has a burden of diseases like cancer, with nearly 1.5 million new cases every year and the number might increase in the future. We need more trained oncologists and radiation therapy facilities to bridge the gap in cancer care. Similarly, cardiovascular diseases remain the leading cause of death.

Investing in cardiology infrastructure and specialists is also necessary.Beyond infrastructure, innovation is key. India's medical tourism sector, valued at $9 billion, showcases potential. Health tourism in India is on the rise as NRIs flock to hospitals for cost-effective treatment.

Streamlining processes and infrastructure can further enhance this sector. Similarly, the robotic surgery market is projected to grow from USD 8 billion to USD 25.4 billion by 2030. While robotic surgery holds immense promise, affordability needs to be addressed.