Budget 2025: Measures to improve accessibility, affordability are among 3 key expectations to benefit Diagnostics firms | Stock Market News
Budget 2025: The Expectations are rising over the steps that will be taken in order to support the diagnostic industry as Finance Minister Nirmala Sitharaman prepares to release the Union Budget for fiscal 2025–2026 on February 1.
As Healthcare services expansion is need of the hour in the country, Industry veterans as Aditya Kandoi, Founder and CEO of Redcliffe Labs highlighted the imperative for enhanced government investment in critical areas of healthcare and diagnostics.
He asserted, “There exists a pressing need to fortify healthcare infrastructure in Tier 2, Tier 3, and smaller towns, which collectively accommodate over 65% of the Indian population. Targeted investments in these regions, bolstered by public-private partnerships, have the potential to address significant gaps and render quality diagnostics accessible to underserved communities.”
In addition to accessibility, Aditya Kandoi emphasized the necessity of improving affordability to enhance the overall healthcare landscape across the nation. “Diagnostics serve as the foundation for timely and accurate treatment; however, high costs often hinder access. We urge the government to consider reducing the taxes on diagnostic equipment, reagents, consumables, and extending tax exemptions for day-to-day operations. Such measures could make diagnostics more affordable, encouraging individuals to prioritize preventive healthcare and mitigating the burden of non-communicable diseases (NCDs) in India, which account for over 60% of preventable deaths.”
Furthermore, he underscored the significance of innovation and technology in improving healthcare outcomes. He stated, “Increased budgetary support for research and development in fields such as genomics, AI-driven diagnostics, and digital health tools, including telemedicine, can position India as a global leader in healthcare innovation. These investments will not only enhance patient care but also promote long-term sustainability within the sector.”
By addressing the interrelated aspects of accessibility, affordability, and innovation, Kandoi expressed optimism that the Union Budget 2025 may pave the way for addressing the existing loopholes and the promotion of a healthier India.
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