Pradhan Mantri Swasthya Suraksha Nidhi

The Union Cabinet, chaired by the Prime Minister, Shri Narendra Modi on 10 March 2021 has approved the Pradhan Mantri Swasthya Suraksha Nidhi (PMSSN) as a single non-lapsable reserve fund for share of Health from the proceeds of Health and Education Cess levied under Section 136-b of Finance Act, 2007.

Salient features 

1. A non-lapsable reserve fund for Health in the Public Account
2. Proceeds of share of health in the Health and Education Cess will be credited into Pradhan Mantri Swasthya Suraksha Nidhi (PMSSN)
3. Accruals into the PMSSN will be utilized for the flagship schemes of the Ministry of Health & Family Welfare namely,
4. Administration and maintenance of the PMSSN is entrusted to Ministry of Health & Family Welfare.

Benefits:
The major benefit will be: enhanced access to universal & affordable health care through availability of earmarked resources, while ensuring that the amount does not lapse at the end of financial year.

Background:
In the budget speech 2018, the Finance Minister while announcing Ayushman Bharat Scheme, also announced replacement of existing 3% Education Cess by 4% Health and Education Cess.