Noel Tata steps in to fill huge shoes of late Ratan Tata
New Delhi (PTI): Noel Tata -- the half-brother of late Rata Tata -- who takes over as Chairman of Tata Trusts, has been with the Tata Group for over four decades, slowly rising through the ranks in the salt-to-software conglomerate.
Having functioned mostly under the shadows of his illustrious half-brother, Noel (67) will now have the responsibility of leading the Tata Trusts -- broadly comprising Sir Ratan Tata Trust & Allied Trusts, and Sir Dorabji Tata Trust & Allied Trusts -- that hold a controlling 66 per cent stake in Tata Sons, the holding and promoter firm of Tata Group companies.
He is a Trustee on the boards of Sir Ratan Tata Trust and Sir Dorabji Tata Trust.
His appointment as Chairman of Tata Trusts comes after the death of Ratan Tata late on Wednesday evening due to age-related health conditions.
Son of Naval H Tata and Simone N Tata, Noel Tata currently serves on the board of various Tata Group companies, including as the Chairman of Trent, Tata International Ltd, Voltas & Tata Investment Corporation and as the Vice Chairman of Tata Steel and Titan Company Ltd.
He has been associated with the Tata Group for over 40 years.
His last executive assignment was as the Managing Director of Tata International Ltd, the trading and distribution arm of the Tata Group, between August 2010 and November 2021. He had overseen the growth of the company from a turnover of USD 500 million to over USD 3 billion.
Before his stint in Tata International, Noel Tata served as the Managing Director of Trent Ltd, Tata group's retail arm. He played a pivotal role in the growth of Trent across formats, from a one-store operation in 1998 to over 700 stores across formats.
A graduate from Sussex University (UK), Noel completed the International Executive Programme (IEP) from INSEAD.
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Out-of-pocket medical expenses remain high in India - CAM Survey
New Delhi: The average out-of-pocket expenditure (OOPE) for hospitalisation, including institutional deliveries, in rural and urban India stood at ₹4,129 and ₹5,290 per household, respectively, between July 2022 and June 2023, according to the Comprehensive Annual Modular (CAM) Survey by the National Sample Survey Office (NSSO).
OOPE refers to the expenses households bear at the time of receiving healthcare, and it is a key measure of financial protection in healthcare payments. The survey, released on Wednesday, was conducted as part of the 79th round of the National Sample Survey (NSS). Covering over 3 lakh households across India, the CAM survey aims to generate data on education, healthcare expenditure, digital use, financial inclusion, and asset possession, except for certain villages in the Andaman and Nicobar Islands.
The survey also noted that rural and urban households spent an average of ₹539 and ₹606, respectively, on medical services not requiring hospitalisation within a 30-day period. Additionally, individual costs of hospitalisation in rural areas amounted to ₹1,035, with 91.3% being OOPE, while in urban areas, the cost was ₹1,879, with 60.9% from OOPE.
Despite government health initiatives, OOPE remains a significant burden. The survey reveals that the average cost of hospitalisation during the period was ₹4,496 in rural areas and ₹6,877 in urban areas. This indicates that rural households spent about 92% of their hospitalisation costs from their own pockets, while urban households covered approximately 77% of these costs through OOPE.
In contrast, the 75th NSS round in 2017-18 recorded higher average medical expenditures for hospitalisation, at ₹16,676 in rural areas and ₹26,475 in urban areas. This suggests some progress, likely influenced by schemes like Ayushman Bharat-Pradhan Mantri Jan Arogya Yojana (AB-PMJAY), which provides health coverage of ₹5 lakh to nearly 50 crore Indians.
Health experts have also noted a rise in private health insurance uptake, especially post-Covid-19, as a contributing factor in reducing OOPE. However, public health specialists warn that OOPE alone does not provide a complete picture. Catastrophic healthcare expenditure (CHE) and the percentage of people pushed into poverty due to healthcare costs are also important indicators to assess financial protection in healthcare.
