On the occasion of World Statistics Day today, the Chairman of PM’s Economic Advisory Council (PMEAC) Bibek Debroy has called for ‘reprioritization’ and ‘reallocation’ of Health expenditure by the Government of India due to the intensifying catastrophic situation caused by COVID-19.
According to him, COVID-19 crisis has brought about the necessity of making health expenditure on priority. Highlighting the importance of making expenditure on health sector efficiently, Debroy says that it will be required reprioritization and reallocation of expenditure by the government. He also says that the unprecedented crisis triggered by COVID has taught a lesson amidst numerous others that a lot depends on strengthening the decentralized governance capacity of India.
“No one anticipated the COVID-19 pandemic, the United Nations Sustainable Development Goal-3 uses the word epidemic. But it could have included more important issues related with health,” remarks Debroy. PMEAC is a non-constitutional, non-permanent and independent body constituted to give economic advice to the government of India, specifically the Prime Minister.
It serves to highlight key economic issues facing the country to the government of India from a neutral viewpoint, and advises the Prime Minister on economic issues like inflation, microfinance and industrial output. The NITI Ayog serves as the Nodal Agency for the PMEAC for administrative, logistic, planning and budgeting purposes.