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Interim Budget 2024

Govt May Double Ayushman Bharat Reach, Increase Health Cover to ₹10 Lakh

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Imagine having a safety net that catches you when life throws unexpected medical expenses your way. The Indian government is planning a major expansion of its flagship Ayushman Bharat health insurance scheme over the next three years. The exciting development involves potentially including all individuals over 70 years of age in the scheme and increasing the insurance coverage to ₹10 lakh per year. If implemented, this change would offer significant relief to families facing medical expenses, which are a major cause of financial strain. Interim Budget 2024 In the interim Budget for 2024, the government increased the allocation for the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB-PMJAY), which provides health coverage of ₹5 lakh per family per year for secondary and tertiary care hospitalization to 12 crore families. The budget saw an increase in allocation to ₹7,200 crore for AB-PMJAY and an additional ₹646 crore for the Ayushman Bharat Health Infrastructure Mission (PM-ABHIM). NITI Aayog’s 2021 Report: Key Takeaways A report by NITI Aayog in October 2021, titled ‘Health Insurance for India’s Missing Middle,’ highlighted that about 30% of the population lacks health insurance coverage. The report identified this gap as a significant policy issue and suggested the need for a comprehensive, low-cost health insurance product for the “missing middle” group. This group includes self-employed individuals, informal sector workers in rural and urban areas, and those not covered by existing insurance schemes. What is PMJAY (Ayushman Bharat Yojana)? Launched in September 2018, Ayushman Bharat Yojana is one of the world’s largest healthcare schemes, aiming to cover over 500 million Indian citizens, particularly those from economically weaker sections. The scheme offers health insurance with a maximum sum insured of ₹5 lakh per family per year for secondary and tertiary hospitalisation. Beneficiaries can access cashless hospitalisation services at empanelled hospitals across India. Eligibility for PMJAY The scheme covers 100 million families, including 80 million in rural areas and 23.3 million in urban areas, aiming to reach a total of 500 million individuals. Eligible applicants must belong to categories such as SC/ST, Lower Income Group, or Economically Weaker Sections (EWS). Eligibility can be checked using the ‘Am I Eligible’ feature on the official website. PMJAY in Rural and Urban Areas Rural Areas: Includes SC/ST households, beggars, families with no adults aged 16-59, families with a physically challenged member, landless laborers, primitive tribal communities, and more. Urban Areas: Includes washermen, rag pickers, mechanics, domestic help, sanitation workers, construction workers, transport workers, and more. Exclusions from PMJAY The scheme does not cover individuals who: Own motorised vehicles or mechanised farming equipment Have kisan cards with a credit limit of ₹50,000 Are government employees or work in government-managed non-agricultural enterprises Earn above ₹10,000 per month or own substantial assets like refrigerators or landlines Coverage under Ayushman Bharat Yojana AB-PMJAY offers up to ₹5 lakh per family annually for secondary and tertiary hospitalisation care, covering medical services such as: Examinations, consultations, treatments Medications, diagnostics, accommodation Medical implants, food services, post-hospitalisation expenses Exclusions from Coverage The scheme does not cover: Out-Patient Department (OPD) expenses Drug rehabilitation, cosmetic surgeries, fertility treatments Individual diagnostics, organ transplants Checking Eligibility Online To check your eligibility for Ayushman Bharat Yojana: Visit the official Ayushman Bharat Yojana website. Go to the “Am I Eligible” section. Enter your mobile number and captcha code, then click “Generate OTP.” Enter the OTP received on your mobile and click “Verify OTP.” Provide details like name, state, age, family members, and income. Click “Submit” to check your eligibility. Future Prospects The government’s proposed expansion of the Ayushman Bharat scheme could potentially double its reach and significantly increase health coverage, reflecting a commitment to improving healthcare access for millions of Indians. This move aligns with previous recommendations and ongoing efforts to enhance the health insurance infrastructure in the country.

Interim Budget 2024: The Lingering Debate on Education’s 6% GDP Share

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As the nation eagerly anticipates the presentation of the Interim Budget 2024 on February 1, the age-old debate on allocating 6% of Gross Domestic Product (GDP) to the public education system has once again taken center stage. This longstanding discussion traces its roots back to the Kothari Commission’s recommendation in 1964-66, underscoring the need to prioritize education and allocate a significant portion of the Gross National Product (GNP) towards it. The Kothari Commission set the ambitious 6% target after studying other nations, including the United States, Japan, and the then Soviet Union (now Russia), all of which invested more than 6% of their GNP in education. Despite being a recurring theme in every budget announcement and election manifesto for the past 60 years, India has struggled to achieve this target. The National Education Policy 2020 echoes this sentiment, emphasizing the collaborative effort of the central and state governments to reach the 6% GDP mark at the earliest. However, recent years have witnessed a decline in the allocation to the public education system. Protiva Kundu, from the Centre for Budget and Governance Accountability, highlighted the consistent decrease or stagnation in the union government’s spending on education, currently standing at 4.41% of the GDP, with only one-fourth coming from the central government and the remaining three-fourths from state governments. Anjela Taneja of Oxfam International pointed out that education is not a top priority for the government, evident in their budget allocations. With the 2024 general elections approaching, the question arises: will the 6% allocation debate remain relevant amidst the political posturing? The historical context of the 6% GDP target reveals its genesis in the Kothari Commission’s recommendation. Subsequent committees, including the Tapas Majumdar committee in 1998-99, reiterated the importance of additional resources to achieve universal school education. However, the fixation on 6% as a benchmark for investment in education has persisted globally, emphasizing its significance. Subir Shukla, from Ignus ERG Education Resource Pvt Ltd, cautioned against the challenges of policy implementation, citing the gap between theoretical discussions and practical contingencies. Avani Kapoor, of the Centre for Policy Research, stressed the need to reevaluate the basis for education budget calculations, focusing on the teaching-learning process rather than infrastructure. Funding challenges persist, with Shukla highlighting ineffective utilization of released funds and delays in disbursement. Anil Swarup, former secretary of the department of school education and literacy, suggested innovative funding methods, such as taxing private schools to support public education. However, Kundu emphasized the need for a level playing field before exploring innovative solutions. Looking ahead to the Interim Budget 2024, expectations are mixed. Kundu predicts an implementation budget with a potential redistribution of resources across different education sectors. Kapoor believes the government’s focus will likely center on flagship schemes such as housing and Jal Jeevan Mission, as past data indicates a prioritization of these areas over education. Taneja remains cautiously optimistic, hoping for increased investment and progress towards the envisioned allocation in the National Education Policy. Despite international obligations, the government’s commitment to the NEP could pave the way for necessary financial allocations to realize its vision. The above data is taken from the recent report published by career 360.