Budget 2024: Health sector must get 5% of GDP: Aster DM's Moopen

As the sweet aroma of 'halwa' filled the halls of the Union Finance ministry headquarters at North Block in Delhi on the evening of July 16, it marked the traditional beginning of the final stage of preparation for Union Budget 2024. Amidst the anticipation, the healthcare sector zeroes in with high hopes, calling for a significant increase in budget allocation to at least 5% of the GDP. This boost is seen as essential for bridging existing gaps and enhancing the quality of healthcare delivery across India.

Highlighting the necessity for comprehensive reform, Azad Moopen, the founder and chairman of Aster DM Healthcare, advocates the development of medical education as the cornerstone of India's healthcare transformation.

"While the last budget announced the establishment of nursing colleges alongside medical colleges, there is an urgent need for comprehensive reform of medical education to ensure that the medical professionals of tomorrow are aligned with contemporary healthcare needs. This necessitates the development of medical colleges, nursing colleges, and paramedical colleges in all 500 district hospitals across the country,” Moopen states.

This ambitious proposal aims to align the education of healthcare professionals with the evolving demands of modern medicine, enhancing medical education and skill development to empower healthcare professionals and improve service delivery, thereby paving the way for a robust and responsive healthcare system across the nation.

Shedding light on the significance of technology for skill enhancement, Moopen says, “The pandemic has accelerated the rapid growth of the healthcare sector, creating a need for extensive learning and development for future specialists. Significant financial investments are necessary to incorporate advanced technology, implement realistic strategies, and foster methodologies driven by research and innovation. Additionally, skilled personnel will be essential for developing the brightest minds in the field. An excellent starting point would be a substantial budget to establish Central Medical Research and Innovation Institutes in every state."

The Aster DM Healthcare founder elaborates that this initiative would address issues such as accessibility, equity, and healthcare costs. He further mentioned that the creation of a Central Digital Health and AI University would aid in utilising technological innovation in healthcare.

"Other considerations include affordable airline fares to SAARC and GCC countries to support the growing trade and business collaborations between the regions, along with the implementation of a health scheme for those returning to India for retirement, among other beneficial measures,” Moopen adds.