Expert Views

Reaction to the Budget:

Malvinder Mohan Singh
Executive Chairman, Fortis Healthcare Limited

Health Budget 2015

Medgate today Magazine
It is a very good, balanced and forward looking budget that gives you a great sense in terms of directional clarity of what the honorable FM wants to do. He has laid down the intent and the road map for the economy in the years to come and has clearly spelt out the vision of the government.

The budget covers a whole spectrum of areas that are directed at giving a boost to the economy, stressing on social inclusivity and channeling funds for public good. The FM has clearly focused on the key elements of infrastructure, including the development of Roads, Housing, Electrification of villages, Skill development and Employment generation. The budget is broad based and provides a thrust to society including the marginalized, the young and the elderly. To move towards the vision of a healthy India, hygiene and cleanliness programs have been accorded priority and contributions towards the Swachh Bharat Fund have been made tax exempt. In tandem, there is a focus on increasing access to healthcare in the cities and villages by widening the health insurance net. There is also a provision to set up 5 new medical colleges along the lines of the AIIMS in J&K, Assam, Punjab, Tamil Nadu and Himachal Pradesh which will go towards bridging the talent gap for qualified medical professionals in the country.

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 catalyzing economic growth. I think private investment will certainly increase and there is a dire need for it.

Overall a very good budget! I look forward to this getting executed and India crossing an 8 % GDP.