India’s medicare system is well prepared for the third COVID wave
India has improved its medical infrastructure and is well prepared to deal with the third wave of COVID-19, according to Finance Minister Nirmala Sitharaman, who added that increased tax collection would aid in overcoming the challenges. She also remarked that with economic activity rising up, the government’s planned CPSE privatization program is on track, speaking at the India Global Forum.
“No one wishes for a third wave, but I believe we have paid that type of attention to infrastructure, medical infrastructure, we have announced several initiatives to develop medical infrastructure in tier II and tier III cities, not simply those in metropolitan areas.”
“Medical infrastructure is being built at a rapid pace, with diverse segments of the population, including children, being targeted. If there is a third wave, God forbid, we are well prepared in terms of medical infrastructure “she stated. Sitharaman announced new stimulus measures earlier this week, saying states will be given additional cash of Rs 23,220 crore to set up pediatric care and beds in hospitals.
As part of the initiatives to revive the economy hit by a severe second wave of COVID-19, a Rs 50,000 crore credit guarantee scheme for private hospitals to construct up medical or health facilities in cities other than the eight metropolitan cities was also launched.
The minister went on to say that 45-50 lakh people get vaccinated every day and that a total of 33 crore people have been immunized. “With the manner, we’re heading toward increased vaccination coverage, I’m hopeful that we’ll be able to protect the majority of the susceptible people from the virus,” Sitharaman said.
She further stated that GST revenues have increased steadily over the last eight months, surpassing Rs 1 lakh crore. “I’m hoping that will continue because there is no longer a national lockdown, and economic activity is ramping up. So I believe income generation will offer us a little more freedom in terms of being able to maintain some resources available to handle the issue.”
In dealing with both waves of the epidemic, the minister added, the government used the “greatest potential leverage” it had in terms of access to ordinary people.
In terms of privatization, Sitharaman stated that it aids in the efficiency of the private sector. She noted that there were few share-sale offers in 2020 due to the pandemic. “… I intend to go ahead with the (privatization) initiative this year, when the economy is about to open up and hopefully without too much fear, with vaccines taking place… We’re on the right track, “she stated
In the current fiscal year, the government hopes to raise Rs 1.75 lakh crore from minority stake sales and privatization. The government will receive Rs 1 lakh crore from the sale of government stakes in public sector banks and financial institutions, and Rs 75,000 crore from CPSE disinvestment proceeds, for a total of Rs 1.75 lakh crore.
Sitharaman had stated in her Budget speech that strategic disinvestment of BPCL, Air India, Shipping Corporation of India NSE -0.86%, Container Corporation of India, IDBI Bank, BEML, Pawan Hans, and Neelac would be undertaken. In addition, the privatization of IDBI Bank is expected to be completed this fiscal year.