India’s social sector spending remains woefully below peers, including Latvia and Iceland, in terms of Gross Domestic Product (GDP). A study published in Reserve Bank of India’s monthly bulletin on an analysis of 17 countries, including India, with respect to their social sector expenditure as the percent of GDP 2016.
The study titled ‘Union Budget 2018-19: An Assessment‘ published on 10 April has been published in the latest monthly bulletin.
The study said, with the National Health Protection Scheme under the ‘Ayushman Bharat’ programme and the reform of the education system, the expenditure on health and education together is budgeted to grow by 4.6 percent as per the 2018-19 Budget.
As per the chart cited in the study, India’s social sector expenditure with 7.5 percent in terms of GDP in 2016 was the lowest among the 17 countries whereas it was 29 percent in Belgium, 15.2 percent in Iceland, 14.5 in Latvia and 10.4 percent in Korea, among other countries.