Modi healthcare scheme won hearts and votes

Agencies
May 29, 2019

Sitapur, May 29: While Prime Minister Narendra Modi's nationalist tub-thumping has been widely credited with his recent election win, another factor was one he kept relatively quiet about Modicare.

Despite some teething problems and a dire need for further reforms and more spending, this huge initiative launched last year one of the world's largest publicly funded healthcare programmes has made a difference.

"This scheme has infused a sense of belief in the poor that if they fall sick they will get treatment without spending a rupee," said Anil Agarwal, chief medical superintendent at a hospital in Sitapur, a city with some of India's worst health indicators.

Indeed, voting data from the mammoth election that ended last week with a landslide for Modi showed particularly strong support for his right-wing party in poorer areas where people would have benefited most.

"It has certainly been welcomed as a welfare measure by the poor and probably contributed to (Modi's) electoral victory," said K. Srinath Reddy, president of the non-profit Public Health Foundation of India.

The flagship programme, dubbed Modicare, covers hospital costs up to $7,200 for the poorest 40 per cent of Indians, or some 500 million people, in a country where the average annual income is about $1,670.

Even before Modicare, or the National Health Protection Scheme (NHPS), was introduced in September, treatment was largely free at government hospitals.

But patients still had to shell out for diagnostics and medicines, which make up a big chunk of the costs of hospital care, as well as for implants like stents.

Private clinics were out of reach for many, with a consultation alone costing some 1,000 rupees ($15) -- a large amount for millions living on less than $2 a day. But now poorer Indians can visit these clinics, providing they sign up to the scheme.

Sabir Ali, an impoverished weaver who got a Modicare card for himself and his family to use at any of the 15,000-odd participating hospitals, had a cyst removed from his forehead.

"It was unbelievable to hold the card in my hands," Ali told AFP, his head bandaged at the Sitapur district hospital in northern India.

"I used the card and I didn't have to spend a single rupee on my treatment."

Until recently only a quarter of India's population had any health insurance, forcing hundreds of millions to pay out of their own pockets, go to quack doctors or just skip treatment.

An estimated 60 million Indians are pushed below the poverty threshold every year paying for medical care, while a report last year by The Lancet medical journal found substandard healthcare was responsible for some 1.6 million deaths a year.

Almost two million people have benefited from the scheme so far, with the government allocating some $1.2 billion since the launch. The costs are shared between federal and state governments 60:40.

"Schemes such as Modicare played a larger role (in the election outcome) than anyone had anticipated," said political analyst Parsa Venkateshwar Rao.

"The overall message that has gone out is that Modi is willing to help the poor."

In his second term, however, Modi will have to iron out some of the scheme's teething problems, with some hospitals complaining they cannot recoup what they spend.

"We can't cope with (receiving) 9,000 rupees ($128) for a caesarean section which would include a stay of the patient, fees of the anaesthetist, paediatrician, medicines and so on," said Doctor V.K. Monga from the Indian Medical Association.

"But corrective steps are being taken... The health sector is overall satisfied now with the scheme," he told news agency.

Reddy of the Public Health Foundation of India also said the scheme needed more financial resources.

"If the state governments too can be stimulated to increase their health budgets, the scheme will become sustainable."

More broadly, Modi needs to build more facilities, train more staff and implement more reforms in what remains a dysfunctional healthcare system, experts say.

The newly re-elected prime minister has promised to hike health spending to 2.5 per cent of GDP by 2025, from 1.15 per cent now -- one of the lowest in the world -- but it is unclear if this will suffice.

Critics also say that Modicare helps unscrupulous private providers -- already accused of over-diagnosing and carrying out unnecessary surgeries -- boost profits.

Ali too has his complaints.

"I live nearby the hospital so I can come, but if someone lives outside the city, they will struggle with the number of times they are expected to visit the hospital," he said.

"They make us run around a lot."

But the family of Vindeshwari Devi, who has had her uterus removed at the same Sitapur hospital, is satisfied.

"I think this scheme is good and it will only get better," said Sunil Kumar, a daily-wage labourer and Devi's son-in-law.

"For those who have nothing, it means a lot."

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News Network
March 10,2020

Mar 10: Indian energy tycoon Mukesh Ambani is no longer Asia’s richest man, relinquishing the title to Jack Ma after oil prices collapsed along with global stocks.

The rout, exacerbated by mounting fears that the spread of the novel coronavirus will thrust the world into a recession, erased $5.8 billion from Ambani’s net worth on Monday and pushed him to No. 2 on the list of Asia’s richest people, according to the Bloomberg Billionaires Index. Ma, the Alibaba Group Holding Ltd. founder who relinquished the No. 1 ranking in mid-2018, is back on top with a $44.5 billion fortune, about $2.6 billion more than Ambani.

Oil plunged the most in 29 years on Monday as Saudi Arabia and Russia vowed to pump more in a struggle for market share. The slump comes just as the coronavirus is spurring the first decline in demand in more than a decade. That raises questions about whether Ambani’s flagship Reliance Industries Ltd. will be able to cut net debt to zero by early 2021, as he has pledged. The plan hinges on a proposal to sell a stake in the group’s oil and petrochemicals division to Saudi Arabian Oil Co., the world’s biggest crude producer.

While the coronavirus has curtailed some of tech giant Alibaba’s businesses, the damage has been mitigated by increased demand for its cloud computing services and mobile apps.

Reliance Industries, by comparison, has no such silver lining. The Indian conglomerate’s shares plunged 12% on Monday, the most since 2009, extending this year’s decline to 26%. Alibaba’s American depositary receipts have slipped 6.8% so far in 2020.

Ma reclaims crown after Reliance shares were pummeled in 2020.

Few of the world’s billionaires fared well in Monday’s collapse as the S&P 500 Index and Dow Jones Industrial Average each plunged more than 7.5%, the most since the 2008 financial crisis, threatening to end the longest bull market in history. But no one did worse than those whose fortunes are underpinned by oil. Wildcatter Harold Hamm’s fortune was cut almost in half to $2.4 billion and fellow oil magnate Jeff Hildebrand lost $3 billion, bumping both from Bloomberg’s 500-member wealth ranking.

In a pivot toward new businesses such as telecommunications, technology and retail, Ambani’s Reliance Industries has piled on billions of dollars of debt over the years.

It spent almost $50 billion -- most of it funded by borrowings -- to build Reliance Jio Infocomm Ltd., which became India’s No. 1 wireless carrier within about three years of its debut. As the mobile venture took off, Ambani also unveiled plans for an e-commerce empire to rival Amazon.com Inc. in India.

Addressing concerns over the liabilities, Ambani pledged in August to cut the group’s net debt to zero from about $21 billion as of last March. The Aramco deal is crucial to that plan for which Reliance Industries has valued its oil-to-chemicals division at $75 billion including debt, implying a $15 billion valuation for the 20% stake that’s for sale.

Signs of a potential delay to that deal unnerved some investors, hammering the stock since it touched a record high on Dec. 19.

Reliance Industries expected the Aramco transaction to be completed by March, but people familiar with the matter said in February that talks were still ongoing to bridge differences between the two parties over the deal’s structure.

Adding to the uncertainty, Indian Prime Minister Narendra Modi’s administration has petitioned a court to halt the proposed stake sale, threatening a key source of funds needed to pare net debt.

But Ambani, 62, may soon bounce back from the setback, said Harish H.V., managing partner at ECube Investment Advisors in Bengaluru, India.

“The game isn’t over,” he said. “Ambani has successfully built a robust business model which would keep him in the game. Moreover, his telecom business will start yielding results in coming years.”

Comments

SmR
 - 
Tuesday, 10 Mar 2020

The curses of the bank depositors savings which vanished with collapsing economy and fraudlent seems to have gradully affecting riches of Ambani's.

 

AU
 - 
Tuesday, 10 Mar 2020

in Holy Quran Allah says; but they plan and Allah plans, and Allah is the best planners..(Surah Al Anfal 8:30)

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Agencies
May 17,2020

New Delhi, May 17: With the highest-ever spike of close to 5,000 cases in the past 24 hours, the COVID-19 count in India has crossed 90,000 on Sunday.

With an increase of 4,987 COVID-19 cases being reported in the last 24 hours, the count has reached 90,927, according to the Union Ministry of Health and Family Welfare.

The total number of active cases in the country stands at 53,946 today, while 2,872 deaths have been recorded due to the infection so far, with one patient having migrated. 120 deaths were reported in the last 24 hours.

However, on the positive side, close to 4,000 patients have also been cured and discharged in the past 24 hours, taking the tally of cured patients to 34,108.

With 30,706 confirmed cases, Maharashtra remains the worst-affected by the infection in the country.

It is followed by Gujarat and Tamil Nadu, with 10,988 and 10,585 cases, respectively.
The national capital, with 9,333 cases, is also one of the regions which is badly affected by the infection.

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News Network
February 10,2020

Hyderabad, Feb 10: All India Majlis-e-Ittehadul Muslimeen (AIMIM) chief Asaduddin Owaisi continued his tirade against PM Modi and Amit Shah against Citizenship Amendment Act (CAA), National Population Register (NPR) and National Register of Citizens (NRC). "We are ready to take bullets in our chests but we will not show our papers.

We are ready to take bullets in our chests as we love our country," Owaisi said further.

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