Union Cabinet approves Pradhan Mantri Swasthya Suraksha Nidhi

The Union Cabinet has approved the Pradhan Mantri Swasthya Suraksha Nidhi (PMSSN) on March 10, 2021 as a single non-lapsable reserve fund.

Highlights

This has been approved for the share of Health from proceeds of Health and Education Cess which is levied under the Section 136-b of Finance Act, 2007.

Pradhan Mantri Swasthya Suraksha Nidhi

This is a non-lapsable reserve fund for the Health in the Public Account. This fund will comprise of the proceeds from the share of health in the Health and Education Cess. This revenue in the fund will be used for the flagship schemes of the Health Ministry including the National Health Mission, Ayushman Bharat – Health and Wellness Centres, Ayushman Bharat – Pradhan Mantri Jan Arogya Yojana and for the emergency & disaster preparedness and responses in cases of health emergencies. The fund will be administered and maintained by the Ministry of Health & Family welfare.  The fund also includes the emergency & disaster preparedness & responses during the health emergencies. It also seeks to achieve the progress towards Sustainable Development Goals and targets of the National Health Policy 2017. In any financial year, the expenditure on schemes will be incurred from the fund initially and later from the Gross Budgetary Support.

Significance of the fund

This fund is significant because the fund will ensure the enhanced access of the universal and affordable health care with the availability of earmarked resources. It will also ensure that this amount does not lapse with the end of fiscal year.

Why this fund was needed?

Health is an important asset because it helps in achieving the improved developmental outcome. A better health leads to a better productivity. So, this fund was needed so that universal health is ensured for all.

Month: Current Affairs - March, 2021