Budget FY 2018-19: Health Sector Requires a Continued Financial Boost
The Indian healthcare sector is facing various challenges due to improper infrastructure, high risk of communicable & non-communicable illnesses, non-communicable illnesses, and low government spending. According to the World Bank, as of 2014, the expenditure on public healthcare in India was below 1.5 percent of its GDP (gross domestic product), which is much less than the global average of 5.95 percent.
- 30 minutes claim support*
- 50,000 claims approved in last 15 months*
- Schedule home visit with our advisors
- Get a plan based on your medical needs
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Tax benefit is subject to changes in tax laws. Standard T&C Apply
- 1
- 2
- 3
- 4
Who would you like to insure?
- Home
- Health Insurance
- News - GHI
- Budget FY 2018-19: Health Sector Requires a Continued Financial Boost
Currently, the availability of hospital beds per thousand individuals is much less than the recommended average. This sheds a glaring light on the urgent requirement of healthcare infrastructure in India.
The government spending on medical care is unable to fulfill the rising healthcare needs of India. While the public expenditure on healthcare has increased by 23 percent from Rs. 39,688 crore to Rs. 48,853 crore in Budget 2017, a majority of this fund has been assigned to medical education and human resources. It has deepened the gap in the current medical infrastructure requirements of India.
The private sector has tried bridging this gap and has contributed generously towards fulfilling the healthcare needs of the nation. According to the World Bank, the private sector outlay on healthcare is approximately 3.3 percent of the gross domestic product. As of 2014, this private sector expenditure was more than 100 percent of the government expenditure.
Health insurance articles
15 Sep 2022
Monkeypox has slowly and steadily spread to more than 85 countries...
06 Sep 2022
As we grow old, the chances of developing a disease or a medical...
25 Aug 2022
Ever since COVID-19 entered our lives, health insurance has come...
25 Jul 2022
Monkeypox is the latest disease to make its way to India while we...
05 Jul 2022
Barely any person has remained unaffected due to rising health...
