Business EconomyPosted at: Mar 1 2015 2:52PM

Health exemptions provided for all a major plus for health industry

New Delhi, Mar 1 (UNI) Healthcare industry captains have described the budget as forward looking and stable and said the health exemptions provided for all and, in particular, for the elderly are a major positive for the industry. Finance Minister Arun Jaitley in Union Budget 2015-16 announced allocation of Rs 33,152 crore for the health sector. Although the allocation for the health sector is slightly less as compared to last year's Budget, the current Budget has brought some good news for the health insurance sector. Health Insurance Premium deduction hiked from Rs 15,000 to Rs 25,000; for senior citizens to Rs 30,000 from present Rs 10,000. \\"By linking financial inclusion (Jan Dhan Yojna), social security and health insurance agendas, the Finance Minister has provided a holistic road map for greater access for all in the future. Specifically, the health exemptions provided for all and, in particular, for the elderly are a major positive,\\" Suneeta Reddy, Managing Director, Apollo Hospitals Enterprise said. The government has also announced five new AIIMS and several such measures measures to provide healthcare to all. Industry big wigs said the visa on arrival for 150 additional countries is also a progressive move. This will go a long way in facilitating medical tourism, which is a growth industry that showcases India's world class health facilities while contributing foreign exchange to the exchequer. \\"I see the budget as a strong booster for industry. The further opening up of foreign investment, tax-free bonds for infrastructure, simplification and progressive reduction in corporate taxes are welcome steps and will all go towards catalysing economic growth\\", Malvinder Singh, Executive Chairman, Fortis Healthcare Limited said, UNI ABI ASH SB GC1449

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Tags: #Health exemptions provided for all a major plus for health industry

Health exemptions provided for all a major plus for health industry

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