New Delhi [India], February 1 (ANI): Stating that ‘women and health’ are significant for a developed India, Apollo Hospitals Enterprise Executive Vice Chairperson, Shobana Kamineni on Thursday said that the Interim Budget 2024, presented by Union Finance Minister Nirmala Sitharaman in Parliament, covered both factors well.
“First I am glad that it was delivered by a woman, so it gave a huge intent. It was a sharp budget. If you want to develop India, women have to be developed. With this, health has to be a focus. Both these were covered quite well for an Interim Budget. I have to applaud it,” Kamineni said.
While presenting the Interim Budget for the Financial Year (FY) 2024-25, the Union Finance Minister also announced encouraging vaccination for girls in the age group of 9 to 14 years for the prevention of cervical cancer.
She also said that the healthcare cover under Ayushman Bharat scheme will be extended to all ASHA workers, Anganwadi Workers and Helpers.
“The fact that they increased Ayushman Bharat coverage to ASHA healthcare workers. This is a good thing they have done,” the Executive Vice-chairperson Shobana Kamineni of the Apollo Group of Hospitals said.
On the cervical cancer announcement, she said that if the government implements that, then it will make a big difference.
Meanwhile, Chairman and Managing Director, Medanta Medicity, Dr Naresh Trehan said that offering of Ayushman coverage for Anganwadi workers and ASHA workers is a big move.
“A lot of emphasis on anganwadis, women’s health, vaccination for young girls against cervical cancer. All these things are very important addition to what we have. But more importantly, offering of Ayushman coverage for Anganwadi workers and ASHA workers is a big move. I think that will go down very well and boost the morale of our frontline health workers…I think overall, a lot of our expectations about medical education, increasing the number of medical colleges and the other facilities for the paramedical personnel is excellent,” Dr Trehan said.
Presenting the Union Budget 2024, Union Finance Minister Sitharaman pegged the fiscal deficit target for 2024-25 at 5.1 per cent of gross domestic product (GDP).
In 2023-24, the government pegged the fiscal deficit target for 2023-24 at 5.9 per cent of gross domestic product (GDP). Today, Sitharaman said that the fiscal deficit of 2023-24 was downwardly revised to 5.8 per cent.
The difference between total revenue and total expenditure of the government is termed as fiscal deficit. It is an indication of the total borrowings that may be needed by the government.
The government intends to bring the fiscal deficit below 4.5 per cent of GDP by the financial year 2025-26.
Further, in relief to the citizens, the central government neither tweaked nor raised tax burden on citizens.
“As for tax proposals, in keeping with the convention, I do not propose to make any changes relating to taxation and propose to retain the same tax rates for direct taxes and indirect taxes including import duties,” said Sitharaman.
The government also proposed to increase capital expenditure outlay by 11.1 per cent to Rs 11.11 lakh crore in 2024-25.
In his response on the overall Interim Budget, Kamal Bali, President and MD, Volvo Group India said, “I think the Budget is very bold, very inclusive, very pragmatic and touching all sectors of the economy & all sections of society. So, from that point of view and considering that it was an Interim Budget, I think the FM has done an outstanding job. I say bold because it is actually looking at fiscal deficit which, in the current year, is going to be at 5.8 per cent instead of 5.9 per cent which is better than the original budget. In the coming year, this has been pegged at 5.1 per cent instead of 5.4 per cent. So, to my mind that is a very bold measure and a very responsible measure. That will help to tame inflation. So, that is something very good…”
Vinod Sharma, Chairman, CII National Committee on ICTE and Managing Director, Deki Electronics Ltd said, “I think we are on to a responsible yet inspiring next 5 years. Obviously, we were not expecting any changes in taxes. For our own industry and electronics there was some tweaking, some rationalisation of customs duty. But that was already announced yesterday. For my industry I would say that what enthuses me is the announcements regarding rooftop solar, regarding electric vehicles and what improvements we want to do in agricultural productivity – all of these will require a lot of electronics. We hope that these electronics will be made in India, designed in India and also the role that electronics needs to play in the development of this country into the Viksit Bharat.”
The interim budget, tabled today, will take care of the financial needs of the intervening period until a government is formed after the Lok Sabha polls after which a full budget will be presented by the new government in July.
With this Budget Presentation, Sitharaman equalled the record set by former Prime Minister Morarji Desai, who as finance minister, presented five annual budgets and one interim budget between 1959 and 1964.
The Budget Session of Parliament commenced on Wednesday with President Droupadi Murmu addressing a joint sitting of Lok Sabha and Rajya Sabha.
In her address to Parliament, the President said the year 2023 was a historic year for the country and among other steps, the country kept up the momentum of being the fastest-growing major economy.
The Indian economy is projected to grow close to 7 per cent in the financial year 2024-25 which starts this April, said the Ministry of Finance in a review report.
India’s economy grew 7.2 per cent in 2022-23 and 8.7 per cent in 2021-22. The Indian economy is expected to grow 7.3 per cent in the current financial year 2023-24, remaining the fastest-growing major economy. (ANI)
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