India's Social Sector Financing Expected to Cross ₹45 Lakh Crore by 2029

India's social sector financing is expected to touch ₹45 lakh crore ($550 billion) by FY2029 from ₹25 lakh crore in FY2024. The increase has largely been aided by government expenditures, which constitute a whopping 95% of overall financing. Even with this growth, the industry has a funding gap of ₹14 lakh crore, which is likely to expand to ₹16 lakh crore by FY2029. Private sector financing, especially from ultra-high-net-worth individuals and family offices, is likely to increase 10-12% per annum over the next five years. The healthcare space is witnessing strong growth, supported by increased post-pandemic spend. Experts point out the scope of private sector money to fill gap causes and niche causes, recasting India's social landscape.
Source: Economic Times