Indian healthcare budget might have a cut of 16-17% in the revised estimates for the financial year 2014-15 ending on March 31 .
The Union Health Minister JP Nadda assured ” No projects, flagship programmes, programmes of giving equipment, medicines and infrastructure are suffering because of this,” .The Step was taken by the finance ministry due to under-utilization of funds by the concerned agencies, including the states.
India is spending close to 1% of GDP on healthcare and is already the lowest on healthcare Spend compare to China (3%) and US (8.5%) , Further there is a budget cut close to 6000 crore , On asking the reason for the Cut he said “Although the word cut might have other impacts, I would like to think in terms of that whether we are able to utilize it (funds) or not,”
Union Health Minister JP Nadda while addressing media also mentioned ” InformationTechnology can play a crucial role in addressing several critical issues in the country’s health sector. He informed that the country’s first Regenerative Medicine Centre at AIIMS has been launched in partnership with the Centre for Regenerative Medicine and Cell Based Therapies (CRMCBT) at the Ohio State University.
Hoping that such ventures will give fillip to health-based research in the country, Nadda said that such research must be people-centric and benefit humanity.