Health Industry's Wishlist For Budget 2025: Focus On Cancer, R&D, AI, Preventive Health & More
In a bid to tackle the growing health woes in India, industries involved in healthcare have compiled a wishlist for the upcoming Union Budget on February 1. The focus areas include cancer treatment, research and development (R&D), artificial intelligence (AI) usage, preventive health measures, and more.
According to data by Previu Health - a startup working in screening and prevention of cancer – one in nine Indians is at risk of cancer and 75-80% of cases are detected at late stages. Therefore, addressing this crisis must be given priority.
Ameera Shah from Metropolis Labs has urged for promoting the concept of preventive health and uptake of annual health check-ups. She also demanded raising tax exemption for preventive health check-ups from Rs 5,000 to Rs 10,000 for multiple family members and incorporating reimbursements for outpatient diagnostic services within insurance packages.
Ashutosh Raghuvanshi, managing director and chief executive officer of Fortis Healthcare, has demanded enhancing the section 80D limit on health insurance premiums and expanding coverage for all citizens. He also asked for increasing public healthcare spending to at least 2.5 per cent of GDP – which he terms "crucial for strengthening our infrastructure and ensuring universal coverage".
Meanwhile, companies such as Poly Medicure, Rajiv Gandhi Cancer Institute & Research Centre (RGCIRC), Biocon, and others have put forward their demands.
Poly Medicure believes that an increase in healthcare budget allocation to 2.5-3 per cent of GDP is crucial for strengthening healthcare infrastructure, benefiting both innovation and access to care across the country.
The government's previous budget announcements have been highlighted as a positive step towards addressing health concerns. For instance, the inclusion of the HPV vaccine against cervical cancer was welcomed by industry representatives.
However, companies and oncologists believe that more needs to be done in terms of making cancer medicines affordable. The Indian Pharmaceutical Alliance (IPA), which comprises top domestic drug makers, has urged the government to make life-saving therapies affordable by removing taxes and cutting import duties on medical equipment.
Industry expectations also include boost for public healthcare spending to a minimum of 2.5 per cent of GDP. Ameera Shah from Metropolis Labs said that raising tax exemption for preventive health check-ups is crucial.
In terms of digital transformation, several companies have asked for significant investments in AI-driven diagnostics, telemedicine, infrastructure, and electronic health records. Jai Arun Milana CEO of Kalyani Pneumatics, has urged the government to provide more funds to R&D sector, particularly in genomics, biotechnology, and AI diagnostics.
With the upcoming budget on February 1, industry experts expect crucial announcements from the Finance Minister that would cater to their demands and transform India’s healthcare landscape.