Budget 2021: What Startups Expect From Modi Sarkar
With the Union Budget 2021 less than a week away, various sectors are expecting Finance Minister Nirmala Sitharaman to make some big-ticket announcements. While the focus is likely to be on the revival of the economy hit hard by the pandemic, the startup sector has its own expectations.
Take a look at what startups want
Ram N Kumar, Founder, NirogStreet
There is a dire need to focus on creating a robust ayurevda ecosystem, make Ayurveda Atmanirbhar and mainstream it for future generations to accept it as the first call of prevention and treatment. This is the right time for the Union budget to allocate funds to create a robust ecosystem supporting world class research, product development and drug discovery in the Ayurvedic sector. A significant price drop in Ayurvedic and immunity boosting medicines can promote the consumption of natural and ayurvedic products. This is only possible if Goods and Services Tax (GST) should be waived off for ayurvedic medicines and products. We expect the upcoming Union Budget to focus on creating a unique ecosystem for tech enabled startups who are reinventing and reimagining the ancient wisdom of Ayurveda to make it more acceptable and palatable for millennials. India is the knowledge and talent hub for Ayurveda. There are over 4, 00,000 Ayurveda practitioners in India and over 350 Ayurveda medical colleges producing over 20, 000 medical graduates every year. The education budget must specifically address the gaps and the need to nurture more and more Ayurveda practitioners and scholars backed by modern research, drug discovery and evidence based medicine knowledge.
Danish Ahmed, CEO, Hospals
The Travel and Tourism sector has been badly hit in Covid, and Medical travel is the surest way to take this worst hit sector on the recovery path. Millions of people in Asia and Africa consider India as the healthcare center of the world. Thousands of patients have applied for visas, despite covid, and are waiting for flight volumes to increase .These patients contribute to revenues of hospitals, hotels, pharmacies, restaurants, airlines, taxis and indirectly provide employment to over 2 lac people. We hope the budget will allocate significant funds to promote medical tourism to India for allopathic and AYUSH related treatments. Governments in Turkey, UAE, Korea and Malaysia are spending millions to develop their medical tourism sector and give tough competition to India. We hope the India government will ear mark a fund of 1000 crores for investment and promotion of medical travel companies and medical value travel startups across India, enabling them to go out and attract foreign patients to India.