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Most finance leaders have found the economic survey’s projection of 6-6.8% for 2023-24 a reasonable estimate and are optimistic about it. However, there is a long list of headwinds in the path.
The economic survey presented in the Parliament on Tuesday by Finance Minister Nirmala Sitharaman forecast the real GDP to grow between 6-6.8% for 2023-24. This is compared to 7% growth estimate for the current fiscal that ends March 31and 8.7% growth clocked in the preceding year. ETCFO finds out what CFOs think about the economic survey's projection for 2023-24.
The economic survey's growth projections are more or less in line with other agencies like IMF, World bank etc and in my view we should remain cautiously optimistic as this will depend on inflation coming down, no other a major shock to the global economy and stable oil rates which will ensure a stable current account deficit as well. Consumption in the economy and tax collections remains robust and with capital expenditure in public and private slated to come back in FY24, India could remain one of the fastest growing economies in the world in FY 24 as well.
Date : February 1, 2023
Publication name : ETCFO
Link:
Manipal Hospitals
Date : February 1, 2023
Publication name : ETCFO
Link:
Manipal Hospitals
Ahead of the budget, experts from the hospital segment have expectations like comprehensive treatment coverage, prioritisation of the rural healthcare system, and enhancing medical education infrastructure among others.
Union Budget 2023: Finance Minister Nirmala Sitharaman will announce the upcoming Budget 2023-24 on 1 February 2023. Over the years, India has become one of the most preferred countries for medical tourism and healthcare services. Every year, the number of people coming to India from across the globe for getting various kinds of treatment is increasing.
Ahead of the budget, experts from the hospital segment have expectations like comprehensive treatment coverage, prioritisation of the rural healthcare system, and enhancing medical education infrastructure among others.
Dr. H Sudarshan Ballal, Chairman, Manipal Health Enterprises Private Limited (MHEPL) told Financial Express. com there has been a long-standing demand for increased government health expenditure, and now there should be a focus on increasing public spending on healthcare, which should contribute at least 3% of the total GDP, making healthcare a priority.
Date : January 30, 2023
Publication name : The Financial Express
Link:
Manipal Hospitals
Date : January 30, 2023
Publication name : The Financial Express
Link:
Manipal Hospitals
Health and pharma industry stakeholders share with ETHealthworld their expectations from the upcoming Union Budget 2023-24. The experts are keen on increasing government health spending on GDP, tax relief, and increased accessibility of government schemes amongst others.
Date : January 27, 2023
Publication name : ET Healthworld
Link:
Manipal Hospitals
.webp "Mr. Sameer Agarwal in ET Healthworld")
Date : January 27, 2023
Publication name : ET Healthworld
Link:
Manipal Hospitals
These were some of the key demands of India Inc ahead of the Narendra Modi government's last full. Budget before the 2024 elections. Companies across the board expected the government to find ways to woo the electorate, especially in rural India, and strengthen its position as the world's fastest-growing economy. Here’s a roundup of corporate India’s key expectations from Budget 2023:
Health care
With the Covid-19 pandemic exposing vast chasms in India’s healthcare, industry watchers want the government to cater better to its underserved and unprivileged people.
Despite schemes like Ayushman Bharat Yojana providing free access to health insurance for low-income earners, there are not enough hospitals and healthcare services in the suburbs and rural areas to meet the demand, said Aster DM Healthcare Chairman and Managing Director Dr Azad Moopen. “Telemedicine can be extended to tribal, hilly, and rural areas that are typically unreachable by physical methods. This will be a big relief to the underprivileged populace given the pervasiveness of mobile phones in the nation,” said Dr Moopen.
The healthcare budget in Asia’s third-largest economy has remained worryingly low as a percentage of its gross domestic product. India spent 2.1% of its GDP on health in the financial year 2021-22 versus 1.3% in the previous year, according to the Economic Survey.
Public healthcare in the country needs more focus, others pointed out. “The government must bring in universal health insurance coverage for all, including the missing middle,” said Dr H Sudarshan Ballal, Chairman, Manipal Health.
He also expected the government to incentivise and empower healthcare workers to provide services in India’s hinterlands and villages, where more than 60% of its population resides.
Date : January 23, 2023
Publication name : Deccan Herald
Link:
Manipal Hospitals
Date : January 23, 2023
Publication name : Deccan Herald
Link:
Manipal Hospitals
ETHealthworld connects with healthcare CFOs to understand what are the issues they are undergoing and their expectations from the Union Budget 2023-24.
New Delhi:
As we inch closer to Union Budget 2023-24 to be tabled on February 1 by Union Finance Minister Nirmala Sitharaman, the CFOs from the leading hospitals have been sharing their demands around the need for strengthening healthcare infrastructure, problems faced with GST, focussed approach towards preventive care from this year's budget.
Healthcare needs to be made a priority sector Sameer Agarwal, Group Chief Financial Officer, Healthcare has been growing very well, and it has grown more than 15 per cent CAGR in the last five years. I don't & expect this to slow down in the foreseeable future, with at least a 15 per cent CAGR in the next five years. We are really hoping that the government continues to partner to nurture this sector, and as a prelude to that, the first step would be to make healthcare a priority sector. This has been a longstanding demand, especially from the hospital sector, to make healthcare a priority sector."
Date : January 20, 2023
Publication name : ET Healthworld
Link:
Manipal Hospitals
Date : January 20, 2023
Publication name : ET Healthworld
Link:
Manipal Hospitals
What India Inc CFOs want from Budget 2023
Finance honchos are looking for a non-populous Budget that will bolster the private investment cycle and boost consumption. Decriminalisation of corporate laws wherever possible, factor reforms, simplification of GST structure and rolling back inverted duty structure are among the wishlist they shared in an ETCFO panel discussion on Budget 2023.
Sameer Agarwal, Group CFO, Manipal Health Enterprises
Despite the elections, the government should not be too populous but walk the fine line between curbing high inflation and supporting growth.
The government needs to speed up the PLI investment and interest rates need to start tapering for capex cycle to come back. It should look into decriminalisation of law, simplifying law structure, dispute resolutions and creating infrastructure for adding more investments in the country. The Budget should give some benefits in terms of taxation, higher spending for healthcare and incentives towards buying insurance. The higher rate of tax on individuals is more than the corporate tax, which somewhere needs to moderate otherwise there will be a brain drain with startups and ultra HNIsmoving to lower tax rate areas such as Singapore and UAE. India is on the cusp of a fantastic next decade of growth and the government will need to support it.
Date : January 17, 2023
Publication name : Economic Times
Link:
Manipal Hospitals
Date : January 17, 2023
Publication name : Economic Times
Link:
Manipal Hospitals
Dilip Jose, managing director and CEO of Manipal Hospitals, expected industry revenue growth in FY24 would be higher, at around 10 per cent. “I think the sector has the potential for a double digit growth, especially if the expectations on medical value travel come through,” said Jose, whose company is India's second largest hospital chain.
“Despite high input cost inflation, improving operating leverage, supported by the increasing scale of operations and continued cost optimisation measures, are expected to support a healthy OPM of around 20-22 percent in FY2023 and FY2024,” ICRA said.
ICRA maintained its stable outlook for the industry, citing rise in non-communicable lifestyle diseases, growing per capita spend on healthcare, awareness, and increasing health insurance.
Date : January 11, 2023
Publication name : Business Standard
Link:
Manipal Hospitals
Date : January 11, 2023
Publication name : Business Standard
Link:
Manipal Hospitals
Health, the greatest wealth of a nation, says Manipal Hospitals Chairman
The recent unprecedented devastating Covid pandemic had many lessons for us. It showed us as the saying goes ‘Health is the greatest wealth’ we have and ‘a country is only as strong as its healthcare is’. Fortunately for us, both the citizens and the government have woken up to this and a slew of measures has been taken to make our nation healthy.
Another saying that I would like to emphasise is that ‘An ounce of prevention is better than a ton of cure’. This cannot be overemphasised. We as a developing nation have been struck by both communicable diseases (infectious diseases) and non-communicable diseases (lifestyle diseases) and this combination is an unbearable burden for society. This is again best dealt with in public, preventive, primary and promotive health.
Date : January 1, 2023
Publication name : The New Indian Express
Link:
Manipal Hospitals
Date : January 1, 2023
Publication name : The New Indian Express
Link:
Manipal Hospitals
Recognising the supply chain's vital role in healthcare, hospitals have started adopting business intelligence software to gather functional insights and improve efficiency across the business. Advancements in analytics via the use of big data, artificial intelligence (AI), and machine learning (ML), along with the advent of social media, have further significantly enhanced the pace of this activity. Deep analytics helps identify gaps in information from multi-source data sets to bring in coherency and improve efficiencies.
Technology is also playing a major role in aiding supply chains to be more effective. Cloud adoption is increasing, creating an optimal balance with the traditional on-premise IT infrastructure. Process-based ways of working with well-designed software handshakes between the backend ERP and the front-end hospital information system are helping limit person-dependent interventions to the minimum. Customized and centralized network tools are interconnecting all network hospitals into one large single web, thus providing a seamless experience to patients, clinicians & administrators alike. Optimized computing environments with purpose-built add-on systems address data integration better across the entire supply chain, Sojwal Vora told Pharmabiz.
Such streamlined digital networks across the healthcare infrastructure can help manage large volumes of procurement with efficiency. Hub and spoke models can be created to facilitate quicker material availability and optimize inventory. Supply chain disruptions can be offset through enabling tools like RPA (Robotic Process Automation) across the Order Realisation process, and by having a strong distributor consolidation strategy leveraging the national presence of new-age aggregators. Having an integrated Procure-to-Pay process that ably supports business deliverables is increasingly becoming relevant, said Sojwal Vora.
Date : December 23, 2022
Publication name : Pharmabiz
Link:
Manipal Hospitals
.webp "Mr Sojwal Vora in Pharmabiz")
Date : December 23, 2022
Publication name : Pharmabiz
Link:
Manipal Hospitals
Topic: How much micromanagement is too much management?
Spokesperson Quoted: Mr. Partha Das, Chief People Officer
Reach: 133,474,680
Date : December 21, 2022
Publication name : ET World
Link:
Manipal Hospitals
Date : December 21, 2022
Publication name : ET World
Link:
Manipal Hospitals
