Union health minister J P Nadda Wednesday stressed on the need for increasing domestic resources as, he said, 85 per cent cost of the global health targets can be met internally.
Nadda said that the Sustainable Development Goals or SDGs set by the UN General Assembly estimate the costs of health related targets in 67 low and middle-income countries that account for 75 per cent of the world's population.
"Under the ambitious scenario, achieving the Sustainable Development Goals health targets would require new investments increasing over time from an initial USD 134 billion annually to USD 371 billion, or USD 58 per person, by 2030," he said while speaking at the 2018 Partners' Forum here.
He added, "The analysis shows that 85 per cent of these costs can be met with domestic resources. We therefore need to strengthen our approach to increasing domestic resources."
Referring to Prime Minister Narendra Modi's remark about India's commitment to increasing health spending to 2.5 per cent of the GDP by 2025, Nadda said that the government is exploring new financing mechanisms and has introduced health cess that will generate additional USD 1.5 billion.
"India pledges to continue leveraging more resources for boosting health services, honouring its commitment to the Every Woman Every Child Movement as we aim to deliver universal health coverage," he said.
He also highlighted the need for capitalising on private sector, which provide a substantial proportion of services, and stressed on a better collaboration between governments and the private sector.
Titled 'Partners' Forum', the focus of this year's meet is on improving multi-sectoral action for results, sharing country solutions and capturing the best practices and knowledge within the health and its allied sectors.
A 'marketplace' showcasing some of India's best practices and innovations in reproductive maternal, newborn, child and adolescent health has also been set up.
Over 24 best practices and innovations have been selected to be showcased at the marketplace. These include best practices under the Revised National Tuberculosis Control Programme, Anaemia-Mukt Bharat, Mera Aspataal and LaQshya, among others.
The previous chapters of the meet were held in Johannesburg in 2014 and Dar es Salaam in 2007. This is the second time India is hosting the meet.
Disclaimer: No Business Standard Journalist was involved in creation of this content
