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Budget's Biotech Push to Cut Healthcare Costs for Middle Class, Says Dr Singh

Union Minister Dr Jitendra Singh stated the Union Budget provides long-term relief for the middle class by investing in affordable healthcare through biomanufacturing. He highlighted a Rs 10,000 crore initiative to strengthen India's position as a global bio-manufacturing hub for vaccines and gene therapies. The Budget also addresses the growing burden of non-communicable diseases and plans new super-speciality mental health institutes in North India. These measures aim to reduce the financial strain on families dealing with chronic conditions like diabetes and cancer.

Key Points: Budget 2024: Biotech for Affordable Healthcare & Long-Term Relief

  • Biopharma Shakti fund to boost domestic manufacturing
  • Focus on cutting cancer, diabetes treatment costs
  • New mental health institutes planned for North India
  • Biotechnology hailed as next major industrial driver
2 min read

Middle class to gain through affordable healthcare, Budget aims long-term relief: Dr Singh

Union Minister Dr Jitendra Singh says Budget's biopharma investments will reduce costs for chronic diseases, aiding the middle class with long-term healthcare relief.

"the Budget's true impact lies in long-term relief from rising healthcare and living costs - Dr Jitendra Singh"

New Delhi, Feb 2

Affordable drugs, vaccines and diagnostics, supported by domestic biomanufacturing, would be a major social and economic support, especially for the middle class and vulnerable sections, said Union Minister of State for Science and Technology, Dr Jitendra Singh, said on Monday.

Addressing the media in a post-Budget interaction, the minister said it may take time to be fully appreciated, but the Budget reflects a clear, sequential vision where structural reforms are powered by cutting-edge technologies, and cutting-edge technologies are increasingly driven by AI.

Dr Singh addressed concerns regarding benefits for the middle class, stating that the Budget's true impact lies in long-term relief from rising healthcare and living costs, rather than short-term income calculations.

Large-scale investment in biopharma, diagnostics, vaccines, and gene-based therapies would significantly reduce the financial burden on families dealing with chronic diseases such as cancer, diabetes, and metabolic disorders, he mentioned.

The Minister noted that the country has over 11-12 crore diabetics, nearly 14 crore pre-diabetics, and a rapidly increasing incidence of cancer, with projections touching two million cases annually by 2030.

On the Rs 10,000 crore Biopharma Shakti initiative, Dr Singh said India has already emerged as a global bio-manufacturing hub, ranking among the top bio-economies globally and within the Indo-Pacific region.

He said the new outlay will further strengthen this position by expanding capabilities in biologics, biosimilars, vaccines, medical devices, and gene-based technologies.

The Minister described biotechnology as the next major industrial driver, comparable to the role played by IT in previous decades, and said the upcoming industrial revolution will be a bio-revolution, encompassing recycling, regeneration, circular economy, and advanced life-science innovations.

Dr Singh said the Budget also addresses non-communicable diseases and mental health, areas that were neglected in earlier decades. He announced that new super-speciality academic and clinical institutes for mental health will be established in North India, ensuring wider and more equitable access to care.

The Minister also highlighted the decision to establish new institutes of Ayurveda and pharmaceutical education, saying these initiatives will strengthen traditional medicine systems while integrating them with modern research and healthcare delivery.

- IANS

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Reader Comments

R
Rohit P
Long-term vision is good, but what about immediate relief? The middle class is struggling with inflation *today*. We need more disposable income now, not just promises of cheaper healthcare in the future. The budget feels disconnected from ground reality.
A
Aman W
Making India a bio-manufacturing hub is a brilliant strategic move. It creates jobs, reduces import dependence, and makes healthcare affordable. The comparison to the IT revolution is spot on! 🇮🇳
S
Shreya B
Finally, mental health is getting attention! Super-speciality institutes in North India are crucial. The stigma is still so high, and access to quality care is limited. This is a positive step.
K
Karthik V
Integrating Ayurveda with modern research is the way forward. We have such rich traditional knowledge; combining it with cutting-edge science can give us a unique global advantage in preventive and holistic care.
M
Michael C
The scale of the non-communicable disease challenge here is staggering. 14 crore pre-diabetics? That's a national emergency. Focusing on diagnostics and vaccines for prevention is smart economics and smart public health.

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