Connect with us
Saturday,23-August-2025
Breaking News

Business

Budget 2023: Health sector needs eco-system for infra & technological growth, say Experts

Published

on

 After the Covid pandemic hit the world three years ago, the healthcare sector has become central for the 2023 budget as the industry awaits the Centre’s intervention to make health care affordable and accessible to all.

The Union Budget for 2023-24 is scheduled to be presented in Parliament by Finance Minister Nirmala Sitharaman on February 1.

As per experts, the healthcare sector needs commercially low capital intensive projects at district and taluka levels to address large patient volume and access with affordable pricing for quality services. The healthcare industry is eagerly waiting as the experts believe that the government should enhance its budgetary support in increasing healthcare and insurance penetration following the pandemic.

Karan Rathore, Vice Chairman, Services Export Promotion Council (SEPC), told IANS, “In cognizance of the impact of the pandemic on the services sector, especially medical tourism and the healthcare sector, the industry expects innovative ideas to augment and accelerate engagement. To accelerate the healthcare sector and position India as a wellness destination globally with reliable and credible healthcare, the budget needs to provide and enable an eco-system for growth both economic and technological”.

Tourism policies and provisions, including facilitation of visas, infrastructure development, connectivity etc need to be the focus, but the more inclination should be towards the digitalisation of the sector by making it more customer-centric and easily accessible for all, the SEPC Vice Chairman said.

Recently, speaking at the Health Working Group of G20 India meeting, Dr V.K Paul, Member (Health), NITI Aayog, said that the Medical Value Travel (MVT) plays a crucial role in eliminating healthcare disparities across the globe and through the first Health Working Group meeting, G20 India Presidency aims to an impetus to create pathways to bridge this gap. “There is great opportunity for utilizing traditional medical practice like Ayurveda in the Medical Value Travel sector which is witnessing a combined annual growth rate of over 23 per cent”, he said.

Rajeev Taneja, Founder of Global Care, said that the Medical Value Tourism sector has suffered a series of setbacks in the last two years and the industry expects government support for the sector’s recovery. “Facilities, including visa approvals and ease of access, a repository for accessing information, and infrastructure development in not just the metro cities but pan India as well for pre and post-treatment care, are a few important steps that need to be accommodated in the budget. These will help boost investment and incentivize the industry, particularly in Tier 2 cities across the country”, he said.

The health experts believe that there is a need to make sure that the facilities and treatments are on a par with the international standard and a favorable budget will help with the same.

Underlining the need of healthcare investment in Tier 2 and 3 cities, Prateek Ghosal, Chief Strategy Officer, Ujala Cygnus Group of Hospitals, said, “In order to attract more private sector investment in Tier 2 and 3 cities of India, healthcare should be given infrastructure status which will enable access to low-cost funding as well as provide tax benefits, further reducing input costs. While during the COVID-19 pandemic, the RBI incentivized liquidity for emergency healthcare services by the extension of credit under priority-sector classification, this move should be made permanent, particularly for projects focused on creating infrastructure in Rural India,” he says.

“With the recent Covid experience at the back of minds, the healthcare industry expects a technology revolution in the sector, along with accessibility, easy availability, and affordability. Accessibility to quality healthcare has been a big issue in India, especially in Tier 2 and 3 cities. We hope the upcoming budget has some provisions regarding opening more tertiary care hospitals in underserved or remote areas,” said Abhishek Kapoor, ED, Regency Health.

Business

No user fee collection from two-wheelers at toll plazas: Govt

Published

on

New Delhi, Aug 21: The government on Thursday clarified that no user fee is levied from two-wheelers at the toll plazas on National Highways and National Expressways across the country.

The clarification came after reports surfaced that the National Highways Authority of India (NHAI) would collect user fees from two-wheeler riders at toll plazas.

“In reference to the fake news circulating on social media regarding toll collection from two wheelers on toll plaza, NHAI would like to clarify that no user fee is levied from two wheelers at the Toll plazas on National Highways and National Expressways across the country,” the Ministry of Road Transport and Highways said in a statement.

User fee on National Highways is collected as per the National Highway Fee (Determination of Rates and Collection) Rules, 2008, and there is no proposal to charge toll fee from the two wheelers, the ministry added.

According to the rules, the user fee at toll plazas is charged from four or more wheeled vehicles which include categories like car, jeep, van or light motor vehicle/light commercial vehicle, light goods vehicle or mini bus/bus or truck/heavy construction machinery (HCM) or earth moving equipment (EME) or multi axle vehicle (MAV) (three to six axles)/ oversized vehicles (seven or more axles.

Meanwhile, the NHAI sold over 5 lakh FASTag-based annual toll permits in just four days, collecting Rs 150 crore in revenue. Tamil Nadu recorded the highest number of purchases of annual passes in four days, followed by Karnataka and Haryana.

Further, Tamil Nadu, Karnataka, and Andhra Pradesh recorded the highest number of transactions through FASTag annual passes at toll plazas, a statement by NHAI said. Private vehicles can now use an annual toll pass for free passage through toll plazas on national highways and expressways, with each pass priced at Rs 3,000.

The annual pass is valid for one year from activation or for 200 toll trips, whichever occurs first.

Continue Reading

Business

India To Clock 6.7% Growth Outpacing RBI Monetary Policy Committee’s 6.5% Recent Forecast

Published

on

New Delhi: India is expected to clock 6.7 per cent growth in the first quarter of the current fiscal (FY26), outpacing the RBI Monetary Policy Committee’s (MPC’s) recent forecast of 6.5 per cent, credit rating agency ICRA said on Tuesday.The rating agency report projects the growth in the gross value added (GVA) to stand at 6.4 per cent in Q1 FY2026.

Improved transmission of monetary easing and the recent announcement of forthcoming GST rationalisation may help to shore up urban consumption sentiments ahead of the festive season, the report said.”ICRA estimates a double-digit growth in net indirect taxes (in nominal terms), aided by the sharp uptick in the government of India’s indirect taxes (+11.3 per cent in Q1 FY26 from -3.1 per cent in Q4 FY2025), despite the narrower contraction in its subsidy outgo,” said Aditi Nayar, Chief Economist, Head-Research and Outreach, ICRA.

“Benefitting from robust government capital as well as revenue spending, upfronted exports to some geographies and nascent signals of improved consumption, the pace of expansion in economic activity in Q1 FY2026 is estimated at 6.7 per cent,” Aditi Nayar said.The rating agency estimates the YoY growth in the services GVA to increase to an eight-quarter high of 8.3 per cent in Q1 FY26, from 7.3 per cent in Q4 FY25, supporting the overall GVA expansion in that quarter.

In particular, the combined non-interest revenue expenditure of 24 state governments reported a double-digit YoY growth of 10.7 per cent in Q1 FY26, up from 7.2 per cent in Q4 FY25.Likewise, the Central government’s non-interest revenue expenditure saw a turnaround, recording a YoY growth of 6.9 per cent against a contraction of 6.1 per cent in the previous quarter, said the report.

Rural sentiments, as reflected in the Current Situation Index (CSI) improved further in the July 2025 (100.6) round of the RBI’s Rural Consumer Confidence Survey, reflecting favourable trends in farm output in the last two cropping seasons, and the upbeat outlook for the ongoing kharif season, and a considerable cooling in the rural CPI inflation.

Continue Reading

Business

Indian Railways Introduces Discounted ‘Round Trip Package’ To Ease Festive Season Travel

Published

on

New Delhi: To avoid rush by ensuring hassle-free ticket booking experience during the upcoming peak festive seasons, the Ministry of Railways on Saturday said that it has decided to formulate a ‘Round Trip Package’ on discounted fare and rebates benefit.

The move will facilitate passengers and redistribute the peak traffic for a larger range during peak festival seasons and ensure both sides utilisation of trains, including special trains.

“It has been decided to formulate an experimental scheme named as Round Trip Package for festival rush on discounted fare,” the Railways Ministry stated.

According to the ministry, the scheme will be applicable for those passengers who choose their return journey during the prescribed period.

Under this scheme, rebates shall be applicable when booked for both the onward and return journey for the same set of passengers.

Passenger details of the return journey will be the same as those of the onward journey. Passengers can book their tickets from August 14 for the advance reservation period (ARP) date of October 13.

“An onward ticket shall be booked first for the train start date between 13th October 2025 and 26th October 2025, and subsequently return journey ticket shall be booked by using the connecting journey feature for the train start date between 17th November and 1st December 2025,” the Ministry stated.

However, advance reservation period will not be applicable for booking of return journey.

Other conditions to avail the benefits of the railway’s new special scheme are the booking shall be permissible only for confirmed tickets in both directions, total rebates of 20 per cent shall be granted on base fare of return journey only, booking under this scheme shall be for the same class and same O-D pair for both onward and return journey.

According to Railways, no refund of fare shall be permissible for the tickets booked under this scheme.

This scheme shall be allowed for all classes and in all trains, including special trains (Trains on demand), except trains having Flexi fare.

In addition, no modification will be allowed on these tickets in either of the journeys, and there will be no discounts, Rail travel coupons, Voucher-based bookings, or Passes be admissible during return journey booking on concessional fare.

Passenger can book their ticket via both online and offline modes; however, both onward and return journey tickets must be booked using the same mode (online or offline).

Continue Reading

Trending