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Showing posts from February, 2018

Modicare

n recently announced budget the finance minister of India Mr. Arun Jaitley launched an ambitious government healthcare program. He dubbed it as Modicare like Obamacare in America, which the present President of USA Mr. Donald Trump is trying to dismantle. This new program, which is touted as the biggest healthcare program in the world, will raise the insurance coverage per family from present annual 30,000 rupees to 5 lakh rupees and will cover 50 crore people, which represents almost 41% of total Indian population. Notwithstanding the myriad of benefits cited by the ruling government and news outlets, we need to be aware of wide economic, social and cultural impact of such government schemes. Firstly, the economics of this program will require vast amount of resources, which the government doesn’t have right now. This will necessitate the government to impose new taxes on already burdened tax payers of India. Due to the high tax regime thousands of ultra-rich