Ahead of the Budget, healthcare service providers including Apollo and Fortis, have sought incentive packages, including ten year tax holiday on hospital projects, saying it will encourage investments in the sector. Besides, the hospital chains said that in order to make healthcare affordable and accessible to all, the Government should work with private third party insurance players to reduce out of pocket spending by citizens.
“Government support for this sector is crucial. To encourage investments in medical and hospital infrastructure, clear guidelines, giving substance to the infrastructure status accorded to the sector need to be spelt out,” Fortis Healthcare Executive Chairman Malvinder Mohan Singh told PTI.
He further said, “An incentive package with direct tax benefits for capital expenditure and a ten year tax holiday for hospital projects and exemption from GST could galvanise significant investment in the expansion and creation of healthcare infrastructure.”