Healthcare expenditure in India less than 2 per cent of GDP, says Ex-RBI Governor C Rangarajan

India's healthcare expenditure is presently little than 2 per cent of its GDP, and the authorities indispensable urgently summation it, erstwhile Reserve Bank politician C Rangarajan said connected Friday. Speaking astatine the ICFAI Foundation for Higher Education (IFHE), Rangarajan stressed connected the value of "ensuring businesslike money utilisation earlier expanding healthcare spending." 

“In India, determination is simply a accordant treatment connected raising healthcare expenditure to astatine slightest 2.8 per cent of the GDP. However, existent information indicates that we are spending lone astir 1.8 oregon 1.9 per cent of the GDP,” helium said. "Governments should summation healthcare spending, absorption connected establishing hospitals that connection escaped services, and guarantee these funds are utilised efficiently." 

The erstwhile president of the PM's Economic Advisory Council stated that acquisition and wellness are important for accelerating the country's progress. "However, successful India's societal expenditure system, much resources are allocated to acquisition than to health, which whitethorn not beryllium the perfect approach." 

Commenting connected planetary practices, Rangarajan noted that insurance-linked aesculapian services, communal successful developed nations, person constricted relevance successful India. Instead, helium advocated for "cross-subsidisation principles to found much institutions that tin service some the mediocre and the affluent." “Medical services successful galore Indian hospitals are comparable to those successful developed countries,” helium added. 

The lawsuit besides featured Dr Gullapalli N Rao, laminitis and president of the LV Prasad Eye Institute, Hyderabad, who delivered the 13th NJ Yasaswy Memorial Lecture.