An Analytical Study on growth in health care sector in India in relation to government expenditure
The scope for growth of heath care sector in India is huge one. This has been realized with the advent second wave of Covid-19. The onslaught of this second wave have compelled us to realize that the growth in health care sector is not adequate considering the vast population of this nation. Although a noticeable growth can be seen in the health care sector for past seven to eight years but by taking into consideration this humongous population and in relation to the government spending this growth seems to be inadequate. If we look at the actual spending of the last five years, we can see that the average spending of the government in the health care system is merely 1.28% of total GDP (Gross Domestic Product) of the nation. This is the area where the both the central as well as the several state government need to consider for better health infrastructure facility in India. It is true that both in terms of revenue generation and employment India has made a noticeable improvement in the health care sector. Secondly improvement in the health care sector not only helps to improve the medical facility but also it will have a positive impact on the employment generation. This is having a great significance considering the fact that India saw its highest level of unemployment of almost 25% in April and May 2020 as per CMIE (Centre for Monetary and Indian Economy) data. This research paper focuses on the growth shown by the health care sector in relation to government expenditure over past seven years and how this growth is inadequate to meet the requirements of this vast population. It also focuses on the importance of growth in the health care sector not only in terms of medical facility but also in terms of employment generation and overall economic development of the nation.