Shares of healthcare sector moved higher after the government provided an additional Rs 69,000 crore for the health sector.
Meanwhile, S&P BSE Sensex was down 467.81 points or 1.15% at 40,225.68.
Shalby (up 2.89%), Apollo Hospitals Enterprise (up 2.06%), Fortis Malar Hospitals (up 1.86%), Aster DM Healthcare (up 0.91%), Kovai Medical Center & Hospital (up 2.2%) and Fortis Healthcare (up 0.03%) inched higher.
Union finance minister Nirmala Sitharaman while presenting the Union Budget 2020-21 in Parliament today, 1 February 2020 announced an allocation of Rs 69,000 crore for the healthcare sector. There is need for more hospitals in Tier II & Tier III cities. In a bid to boost medical services in the country, proceeds from tax on hospitals to be used to fund hospital facilities. Under Ayushmann Bharat Scheme, medical facilities would adopt artificial intelligence (AI) & machine learning to boost growth in the healthcare sector.
A medical college would be attached to a district hospital in PPP mode, with viability gap funding to be set up for setting up such medical colleges. The FM also re-iterated the government's commitment to eliminating tuberculosis from India.
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