Budget 2021 Latest Updates: Looking at the coronavirus pandemic and its effect on economy, the Centre is likely to shift its attention towards healthcare system in next financial year when the Budget 2021 will be presented by Union Finance Minister Nirmala Sitharaman on February 1. The move from the government will likely to come into effect from April 1 this year.Also Read - Capital Expenditure, Reduction in GST: 10 Things India’s Middle Class Expects From Budget 2022

The primary objective of the plan is to raise expenditure in the sector to 4 per cent of the gross domestic product (GDP) in the next four years. A plan of the Centre to boost healthcare spending has been long-awaited in the country, which saw its medical system put to test during the initial months of the Covid-19 pandemic. Also Read - Stable Policy, Credit Guarantee: What Renewable Energy Sector Expects From Budget 2022

Sources at the government told news agency Reuters that the Centre is likely to increase health spending to Rs 1.2-Rs 1.3 lakh crore in the next financial year. In this case, it would be a big boost over the Rs 69,000 crore announced in last year’s budget. Also Read - Budget 2022: From Briefcase To Bahi-Khata, Here Are Interesting Facts That You Should Know

During the budget 2021 presentation, the Centre is also planning to unveil a new healthcare plan in on February 1. However, there is nothing much information about the new plan as yet.

Apart from this, the Centre is also likely to unveil a four-year health budget plan for boosting the country’s spending on healthcare to four per cent of the GDP. A dedicated health fund will also be set up as part of the plan.

Earlier, it was also reported that the Centre is likely to set up a new health fund to meet the higher public spending target of 2.5 per cent of the GDP by 2025. According to report, both Centre and state governments are expected to contribute to this fund.