Union Finance Minister Nirmala Sitharaman announced the Union Budget 2023 -24 on Wednesday and here are some important segments on pharmaceutical, healthcare, and medical devices. 

  • 1. Public and private medical faculties can get the research advantage from select ICMR (Indian Council of Medical Research) labs 
  • 2. Three centres of excellence for AI (Artificial Intelligence) will be established in top educational institutes for enhancing India’s expertise and skills in the digital world. They are being set up to realise the vision of “Make AI in India” and “Make AI work for India”.  
  • 3. A mission for eliminating sickle cell anaemia by the year 2047 was announced by Finance Minister, Nirmala Sitharaman to create awareness  and large scale screening of 7 crore Indians under the age of 40 years. 
  • 4. 157 new nursing institutes will be established in major locations of medical colleges.
  • 5. The government institutes will implement multidisciplinary courses on medical devices to increase skills of manpower and ensure high end research and manufacturing in medical tech.
  • 6. In order to enable access to the anonymised data, a National Data Governance Policy will be launched by the Government. Furthermore, this will unleash the innovations by academia and startups.

There have been various responses from the industry experts on the Union budget 2023-24. According to some, the budget has paved the way for India towards achieving universal health coverage.

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