In the world of macroeconomics, we are conditioned to cheer for growth sectors, and now we are celebrating a bull market in human suffering.
In boardrooms and budget meetings across India, a double-digit rise in healthcare spending is hailed as a victory for the economy, a sign of modernisation and capital flow.
We point to the thousands of new hospital beds, the multi-billion dollar valuations of pharmacy chains, and the rising percentage of healthcare spend in our GDP as proof of progress.
But if we pause to look past the balance sheets, we must ask a darker question: since when did a rise in the number of sick people become a success metric for a nation?
The hard truth is that we are confusing sickness spending with healthcare growth.
