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Economic Survey: Health Expenditure at 2.1% of GDP in FY23

Economic Survey: Health Expenditure at 2.1% of GDP in FY23
Economic Survey: Health Expenditure at 2.1% of GDP in FY23
  • Health Expenditure has been a major concern for the government since the COVID pandemic. As the pandemic started reducing, the governments were burdened heavily to focus on the lost track of other disease elimination programs.
  •  For instance, the cases of malaria, AIDS, hepatitis, etc in India and several other countries increased exponentially. These diseases increased because the governments were forced to pay less attention.
  • The entire attention and complete focus were on the COVID pandemic. Health expenditure was not sufficient to focus on all diseases. In the fiscal year 2022-23, central and state governments spent 2.1% of their GDP in 2023. In 2022, it was 2.2% and in 2021, it was 1.6%.
  • Health expenditures made on social services increased to 26% in the fiscal year 2023. It was 21% in the fiscal year 2018-19.
  • The government’s share in the total expenditure of the country increased to 40.6% in the fiscal year 2018-19. It was 28.6% in 2013-14
  • Out of Pocket Expenditure decreased to 48.2% in the fiscal year 2018-19. It was 64.2% in 2013-14
  • Social security expenditure in the health sector increased to 9.6% in the fiscal year 2018-19. It was 6% in 2013-14. The social security expenditure on health includes the following
    1. Medical reimbursements the central government makes to the government employees
    2. Social Health Insurance Programmes
    3. Health insurance schemes financed by the government.

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  1. In November 2022, the retail inflation returned to the target set by RBI
  2. The government of India is focusing on recovery and putting the economy back on the pre-pandemic path
  3. Direct Tax collections between April 2022 and November 2022 were buoyant. Tax buoyancy means the revenue rate increases without an increase in the tax rate
  4. The urban unemployment rate is decreasing
  5. The Gross Non – Performing Assets ratio of the Scheduled Commercial Banks have reduced to 5. This is the lowest in the past seven years.
  6. Health expenditure of Central and State Government in Fiscal Year 2023: 2.1% of GDP. It was 2.2% in 2022 and 1.6% in 2021.
  7. 220 crores of COVID vaccines were administered in FY23
  8. From the UNDP’s Multi-dimensional Poverty Index: 41.5 crore people out of poverty between 2005 and 2019
  9. Achieve net zero emissions by 2070
  10. National Green Hydrogen Mission: to make India energy independent by 2047
  11. Agricultural investments from the private sector: Increased by 9.3% in 2020-21
  12. National Food Security Act: 81.4 crores benefitted
  13. PM KISAN: 11.3 crores of farmers benefitted between April and July in 2022-23
  14. International Year of Millets: 2023; UN announced upon India’s insistence. India to push millets production
  15. Merchandise Exports: 332.8 billion USD between April and December 2022
  16. Remittances in 2022: 100 billion USD; largest in the world
  17. UPI-based transactions: Increased by 121% between 2019 and 2022
  18. The focus of Government Reforms

Also Read: October Weekly Current Affairs (National) Bitbank: Which state started the 'Women-Friendly Tourism' project?

The Economic Survey of 2022-23 says that the Government of India is to focus on the following reforms:

  • Ease of living for the public
  • Deliver governance efficiently and gain the trust of the citizens
  • Develop partnerships with the private sector to develop the economy
  • Increase the production from the agricultural sector
Published date : 01 Feb 2023 05:53PM

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