Vijay Tata said he andhis wife Amrita made the announcement to celebratetheir daughter's birthday in a memorable way.
Speaking to PTI, Vijay Tata said he welcomed the budgetary provision of Rs five lakheach to 10 crore poor families for healthcare.
He, however, felt thatthe amount is insufficient for cancer patients.
"The announcement is a welcome one but it isinsufficient for cancer patients. The expenditure is muchmore, which the underprivileged cannot afford," he said.
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It will be a 150-bed hospital whichcan accommodate at least 400 patients at a time. The building will be ready by December at the most, Tata said.
The businessman said those from the lower middle-class and middle-class can also avail benefits free of cost providedthey convince the hospital's assessment panel that theywere running short of money.
Inaugurating the NGO, Bollywood actor Emraan Hashmi said, "I have very closely seen the pain which cancer patients and their families go through. The initiative by 'New India' tocreate new hope for poor cancer patients is worth appreciatingand I am glad individuals like Vijay Tata and Amrita Tataare coming forward to take this novel step.