BUDGET 2025: Critical patients get huge relief as FM exempts 36 life-saving medicines from custom duty
STC NEWS MONITORING DESK
NEW DELHI, JANUARY 02 (STC): Finance Minister Nirmala Sitharaman announced in the Union Budget 2025-26 that 36 life-saving medicines will be fully exempted from customs duty. This move is going to reduce the cost of essential healthcare treatments, particularly for cancer patients.
The announcement, made on February 1, 2025, includes a proposed 5% concessional duty on these medicines, along with a complete exemption from customs duties for their manufacturing.
By virtue of this announcement, life – saving medication will be more accessible to millions of patients across the country.
Remarkably, a year ago, the government slashed GST (Goods and Services Tax) from three major cancer drugs: Trastuzumab Deruxtecan, Osimertinib and Durvalumab.
The Budget announcement now aligns with the demands of slashing cost of life saving drugs. This will provide much-needed relief to families facing the high expenses associated with cancer care.
The FM Sitharaman emphasised that this decision reflects the government’s commitment to improving healthcare affordability and accessibility. The exemption is particularly crucial given the rising number of cancer cases in India. With many patients requiring long-term treatment, reducing the financial strain is vital for improving health outcomes.
.Meanwhile, the FM also announced provisions to set up cancer care centers in all districts of India during her presentation of the Union Budget for 2025-26. (STC)
