Income tax and saving benefits will help people get access to quality health care: LetsMD

• The industry welcomes Union Budget 2019
• Announcements on National Pension Scheme contributions, medical insurance, medical expenditure on senior citizens etc and people with even higher income not having to pay any tax, is big cheer for the sector

New Delhi, February 07, 2019: While reacting to the Union Budget 2019-20 on behalf of the health care industry, the Delhi-NCR based healthcare fintech start-up, LetsMD, Founder and CEO Nivesh Khandelwal said, “The budget is forward looking, positive and optimistic. The focus on the Aayushman Bharat and increasing the income tax slab up to INR five lakh along with INR two lakh on savings, will definitely help common people access quality health care if the need arises.”

Announcements on National Pension Scheme contributions, medical insurance, medical expenditure on senior citizens etc and people with even higher income not having to pay any tax, is a big cheer for the sector.

While Aayushman Bharat is the biggest health care programme in the world and if implemented across India, it has the potential to transform India’s health care sector, however, still there is a long way to go, he added.

Among emerging markets, India still remains to be one of the least insured countries with only 20% of people having any kind of health insurance. “As health insurance falls under the 18% GST slab, we request the government to reduce it to 5 per cent if not zero”, said Nivesh.

LetsMD  re-emphasised on its earlier demand, requesting the Finance Minister to consider incentives for setting up hospitals in smaller towns and cities.

Corporate Comm India(CCI Newswire)