“If we only have great companies, we will merely have a prosperous society, not a great one. Economic growth and power are the means, not the definition, of a great nation.” ― Jim Collins, Good to Great and the Social Sectors: A Monograph to Accompany Good to Great

SOCIAL SECTOR

Human Resource Development and Social Justice

Education Health & Sanitation Employment and Skill Development Rural Development

Impact of budget on social sector

Despite the constraints being faced on the fiscal front, the Government continued to increase the magnitude of budgetary support for social sectors. And rightly so, as “social sectors” include those sectors where Government interventions are expected to have a direct influence on human development.

The Budget 2013-14 has allocated 2,067 bn to the “social services” sector, accounting for 30.4% of he total plan outlay. Among the various heads under the social sector, the Budget provides a significant boost for the health sector, with the allocations for “Health and Family Welfare” having increased by 31.5% in Budget 2013-14 over RE of FY14.

Even as the 24.3% increase in allocation for the National Health Mission is a welcome move, the progress on health infrastructure remains far from satisfactory. The higher outlay for education is encouraging, given the significant challenges of achieving higher enrolment and enhancing the quality of education.

The Budget also has several announcements that promote inclusive growth.

However, a prime concern that persists across social sector programmes and schemes and which remains unaddressed in the Budget is that of under-utilisation of available budgetary resources.

It is therefore imperative to improve the quality of spending on social sector schemes so as to get better outcomes for the money spent. However, the measures announced during the Budget have significant positive impact on social sector.

Education sector in India is a mix of government-operated educational institutions and privately. operated educational institutes and allied education products and services providers. Educational. Sector is highly impacted by the various government schemes to improve the quality of education. And government planned expenditure to improve the literacy level in the country.

In the last budget government had proposed to set-up 2,500 schools under the PPP model. The

same has resulted in greater involvement of the private sector in this sector.

The Indian healthcare industry is seen to be less impacted by economic cyclicality. It is mainly driven by increasing per capita income leading to greater spending on healthcare; change in demographic profile; transition in disease profile, increase in health insurance penetration, and fast growing medical tourism market. The hospital industry is the single biggest segment, accounting for approximately 70% of total healthcare market.

CONCLUSION

We have implemented a rating tool for better understanding of the Impact of the union-budget.

These are: Negative, Positive and Positive+

And have a “positive +” impact on Social Sector.