The NDA government’s maiden budget is “very growth-oriented and futuristic” though it has not tapped NRI potential enough, Azad Moopen, Director of NORKA Roots, has said.
He said budgets could not be a “One Stop, One Time Solution” but had to be seen on longer perspectives for traction and vision. “By opening up investment barriers and allowing FDIs in many areas, the Finance Minister has given a clear indication that he is doing the balancing act of bringing in growth without inflation,” Dr. Moopen, also the chairman and managing director of Aster DM Healthcare, said.
But there was hardly anything to cheer about for the Non-Resident Indians (NRIs) in the budget. “It seems the new government sidelined the NRI community and did not give importance to this very potential group. The unleashing of NRI fiscal power would have added strength to the hands of Finance Minister,” he said.
Even from a healthcare point of view, the budget should have outlined a road map for comprehensive inclusive solutions. Rs.500 crore for new units of AIIMS in four States was a good sign, he said. Some of the key components of the budget, such as providing special treatment packages for senior citizens, incentives for visually challenged people, and other welfare initiatives, would help boost the social development.
He said the budget disregarded demands on increasing GDP allocation on healthcare. India with a dismal two per cent GDP spent was one of the lowest among emerging nations in healthcare expenses. It was important that this was increased to at least 4 per cent. Opening up of Insurance sector to FDIs might help to increase the insurance penetration in this area, Dr. Moopen said.
