According to Mr. Antony Jacob, Chief Executive Officer, Apollo Munich Health Insurance Company Limited he felt that at the outset, the budget appears to be forward looking and inclusive.
One can foresee a stiff healthcare challenge in India sooner rather than later, with new technologies making their way to our shores and an urbanizing population, beset by a sedentary lifestyle and new diseases of the western world. Poor eating habits, addictions such as smoking, drugs, alcohol abuse, compounded with a lack of exercise, and thus causing obesity, have become a part of our daily routine.
With this situation as the backdrop, I believe the Finance Ministers proposal to allow a deduction of up to Rs. 5,000 for preventive health checkup is positive and pragmatic.
As the second fastest growing insurance segment in the country today, we were hoping to see an increase in the overall tax exemption limit on health insurance, as it is the need of the hour to address the rising cost of medical treatment in India.
