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Budget 2023: A Minor Increase in Healthcare Sector Allocation

https://how2invest.in/budget-2023-a-minor-increase-in-healthcare-sector-allocation/

The coronavirus pandemic wreaked havoc on the entire planet. India was no exception. The country’s healthcare system was on the verge of collapse, and there had been a massive loss of life.

With the recovery from the pandemic still not complete, the government has been increasing its focus on improving the country’s healthcare sector.

In this context, the government’s modest increase in the healthcare budget may be cause for concern.

The Union Budget has set aside Rs 88,956 crores for 2023-24. This represents a 2.7% increase over the previous year. However, the annual increase is 15% from the Revised Estimates of Rs 77,351 crores.
 
Now, let’s have a look at the focus areas where the budgeted amount is to be expected to spent on.
 
Budget 2023: Highlights for the Healthcare Sector
 
The following are the major areas of focus for the Healthcare Sector in Budget 2023:


The following are some key takeaways from Budget 2023 for the Healthcare Sector:

Budget 2023: Healthcare Stocks Decrease
 
The modest increase in overall allocation for the healthcare sector has disappointed. This is reflected in the share prices of healthcare-related stocks. Notably, the Nifty Pharma index fell marginally following the budget. Let’s look at the top healthcare stocks over the last week.

NameCurrent Market Price1 Week Return
 Sun Pharma1,007-3.10%
Divi’s Lab3.267-2.10%
Abbot India20480-3.80%
Torrent Pharma15411%


Sun Pharma

 https://groww.in/stocks/sun-pharmaceutical-industries-ltd
https://www.google.com/search?q=Sun-Pharma-stock

Divi’s Lab

https://groww.in/stocks/divis-laboratories-ltd
https://www.google.com/search?q=Divis-Lab-Stock

Abbot India

https://groww.in/stocks/abbott-india-ltd
https://www.google.com/search?q=abbotindia&oq=abbotindia&aqs=chrome..69i57j0i512l9.16197j0j7&sourceid=chrome&ie=UTF-8

Torrent Pharma

https://groww.in/stocks/torrent-pharmaceuticals-ltd
https://www.google.com/search?q=Torrent+Pharma+stock


(as of February 2nd, 2023)

This is not financial advice. Investments in the securities market are subject to market risk; before investing, carefully read all relevant documents. Past performance does not predict future results.

Question and answer
 
1. What is the allocation in Budget 2023 for the healthcare sector?

The Union Budget for 2023-24 includes an allocation of Rs 88,956 crores for the education sector. This represents a 2.7% increase over the previous year.
 
2. Is India’s healthcare industry expanding?

The Indian healthcare sector is one of the fastest growing, contributing significantly not only in terms of revenue but also in terms of employment. Hospitals, medical devices, health insurance , telemedicine, clinical trials, medical tourism, and medical equipment are all included.

3. What are the advantages of Indian healthcare?

World-class hospitals and skilled medical professionals are among India’s major strengths, as are low treatment costs in comparison to other countries, superior quality healthcare, robust ayurvedic and homeopathic networks, and wellness services such as yoga and meditation.

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