Economy
Trending

AYUSH :Union Budget 2021-22 places the AYUSH Sector on growth path : Experts

AYUSH: Union Budget 2021-22 places the AYUSH Sector on the growth path: Experts

 

New Delhi, Feb 7:The Union Budget 2021-22 has brought out numerous enablers and catalysts which the AYUSH Sector can tap, and taken together, they place the Sector on a sustainable path of growth, according to a panel of experts who interpreted the Budget for the AYUSH Sector recently.

 

Budget 2021-22 presented by the Union Finance Minister Nirmala Sitharaman on Monday allocated ₹2,970.30 crores to the Ministry of AYUSH for the next fiscal year marking an increase of 40% of the corresponding figure (Rs.2122.08 Cr) of the current fiscal. Further, when the revised allocation of Rs. 2322.08 of the current fiscal is considered, the allocation marks an increase of 28%.

 

To understand the impact of the current union budget on the AYUSH Sector and explain the same to the stakeholders, the Ministry of AYUSH organized a Panel Discussion on the topic “Implications of Union Budget 2020-21 for the AYUSH Sector” on 4th February 2021 in the digital mode. Representatives from the industry, service sector, media, government, and AYUSH practice joined the discussion, which was streamed through various digital platforms on 6th February 2021.

 

 

Mr. Ranjit Puranik MD & CEO, Shree Dhootapapeshwar Ltd., and a representative of this industry, was of the view that the Budget is part of a policy continuum that incorporates many of the views espoused in the recent past by the AYUSH industry, AYUSH Ministry and other stake-holders of the Sector. He cited various pointers from the Budget and said that scientific studies in AYUSH would increase and give impetus to the sector as a medical stream. He recollected that Rs4000 crore was recently earmarked for the National Medicinal Plants Board (NMPB) for backward integration projects dealing with medicine plants. He added that about 8800 units are part of the AYUSH industry in India, and they are poised to capitalise on the various booster provisions that this Budget offers to the industry.

 

 

Mr. Rajiv Vasudevan, MD & CEO, AyurVAID Hospitals, and Chairman, CII Ayurveda Group while welcoming the increase in outlay for AYUSH Sector, said that the bigger picture lies in the integrated vision for the broader healthcare sector (of which AYUSH is a part) which emerges from a closer look at the last few Budgets. There is roughly a 7% increase in outlay for the healthcare sector year by year. There is a health system perspective underlying these increasing allocations. He indicated that the impetus that the AYUSH Sector can draw from this Budget goes beyond the compartmentalized allocations to the sub-sectors.

 

 

Even a goal-defined project like the National Research Foundation, with its Rs. 10,000 cr outlay for 5 years, is a potential catalyst for the Ayurveda Sector since a small proportion of this allocation is sufficient to produce world-class evidence in a few areas of Ayurveda.  Presenting some statistics, Mr. Vasudevan said that the increased funding in the AYUSH Ministry on International Cooperation is a sign of how AYUSH Healthcare systems are contributing to India’s growing soft power.

 

Spending on AYUSH delivery systems has increased from Rs 122 Crore in previous year to Rs 299 Crore this year, in turn leading to enhanced outcomes at ground level. The increase in allocation for the Champions in Services Sector Scheme from Rs. 15 crores in the previous year to Rs 150 crores in the current year was striking, as it helps the Sector to acquire competitiveness from a global perspective. He added the larger Budget allocation for 2021-22 can continue to energize these activities and that the added funding will strengthen the AYUSH.

Dr. Geetha Krishnan, an Ayurveda expert presently working as a Technical Officer in the Traditional Medicines Unit of the WHO described what this Budget represents for the AYUSH Sector as “growth and continuity”. Tracing the decadal trend in the 300% growth of outlay for AYUSH, he explained how the current Budget integrates the Sector into the country’s overall growth pattern. The influence of National Health Policy, 2017 has been visible in the government-led growth in healthcare infrastructure in the past 3 years and has helped the AYUSH systems to grow faster and receive increased funding support. He mentioned that the building blocks of growth are coming into place and emphasized that it is important for AYUSH to become part of every healthcare system.

Inputs of  Mr. Udit Sheth, Vice President, National Yoga Asana Sports Federation, were mostly from the perspective of Yogasana and sports, and he said that the Budget has in it the necessary support to make Yogasana a global pursuit.  The increasing impact of AYUSH as a sector of the Indian economy in present times is no doubt significant, but this union budget goes further beyond. It has brought out enablers and catalysts, and it is now time for the Sector to grab the opportunities and take Indian traditional medicine to the world. By making AYUSH an appealing platform, our education and culture can be exported and India can become a wellness hub.

 

Adding to the discussion, Senior News Editor of Amar Ujala, Mr. Shashidhar Pathak, emphasized on words like fitness and stress-free life, and the role of AYUSH in achieving these. He spoke about the acceptance of AYUSH during COVID-19 and said that the current Budget creates avenues for growth opportunities for traditional medicine.

 

Dr. J.L.N. Sastry, CEO of, National Medicinal Plants Board who moderated the Panel concluded by expressing happiness about the rich discussions that resulted from the session thanks to the insights the experts brought to the table.

 

The Budget provisions were not in compartments anymore, and the AYUSH Sector has acquired the maturity to grasp and make use of the inter-linked weave of opportunities that has been rolled out. The major pointers towards investment opportunities, scientific studies and active branding of AYUSH were underlined. The emerging entrepreneurial environment to which the Budget has significantly contributed holds much potential to take Indian traditional Medicine to the world, in line with the already-visible trend of wider global acceptance of Yoga and Ayurveda.

 

 

 

END 

Please click the link below & support our initiative http://newsabode.com

https://www.patreon.com/neerajbajpai

(NOTE: We seek your support—At a time when the news is under threat, we have opted for a different approach with hopes of your support. The purpose of launching newsabode.com is primarily aimed at ensuring the survival of true and unbiased journalism, based on facts and figures with total independence)

Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close

Adblock Detected

Please consider supporting us by disabling your ad blocker