In the aftermath on COVID-19, Finance Minister Nirmala Sitharaman's Budget speech focussed on allocation to healthcare sector. She introduced the Aatmanirbhar Health Yojana with an outlay of Rs 64,180 crore over six years.
This will strengthen the National Centre for Disease Control, she said.
Aatmanirbhar Yojana is in addition to National Health Mission. The government will launch 'Mission Poshan 2.0'. Besides this, the government will also set up 15 Health Emergency Centres
The total allocation to healthcare sector was at Rs 67,112 crore in FY21 Budget (including Ayushman Bharat Scheme Rs 6,000 crore).
So far, India has recorded over 1.07 crore confirmed COVID-19 cases, including more than 1,50,000 deaths. About 1.04 crore people have recuperated from COVID-19 so far. Globally, more than 10 crore people have been infected and 22.27 lakh have died from the novel coronavirus.
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Many countries, including India, have granted emergency use authorization for COVID-19 vaccines and have started vaccinating healthcare workers and high-risk groups. India's regulator has granted restricted emergency use approval for two vaccines -- Covishield and Covaxin. Over 37 lakh people have been given their first dose of the COVID-19 vaccine in India so far.
The healthcare sector has been among the biggest gainers in the last 10 months given the opportunities made available in the light of the pandemic. The BSE Healthcare index rallied 87 percent from March 23's closing low.
India has occupied the top position as a worldwide largest supplier of generic drugs. Indian pharmaceutical sector caters to more than 50 percent of global demand for various vaccines, 40 percent of generic demand in the US and 25 percent of all medicine in the UK.
"The pharma sector posted a healthy show with exports increasing 15.2 percent to $11.8 billion during the first half of FY21. EBITDA margins elevated 300bps during the second quarter and the first half of FY21. The stellar performance was mainly driven by cost rationalization initiatives and improving revenue growth in key geographies of India and the US," said William O'Neil India.
Stocks like Fortis Healthcare, Apollo Hospital, SRL Logistics, Metropolis, Dr Lal PathLabs and Narayana Hrudayalaya are in focus.
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(This is a developing story. Check back for updates)
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