India's Finance Minister Nirmala Sitharaman, in her record eighth consecutive Budget speech on Saturday (Feb 1), announced that 36 lifesaving drugs and medicines, particularly for patients suffering from cancer, chronic or other severe diseases, will be fully exempted from basic customs duty.
She further announced that 37 more medicines and 13 new patient assistance programmes will be fully exempted from Basic Customs Duty, where they are supplied free of cost to patients.
Additionally, six more lifesaving medicines will be added to the concessional duty list, attracting a reduced customs duty of 5 per cent.
"Specified drugs and medicines under Patient Assistance Programmes run by pharmaceutical companies are fully exempt from BCD, provided the medicines are supplied free of cost to patients," Sitharaman said.
#UnionBudget2025 | Finance Minister Nirmala Sitharaman says, "Those suffering from Cancer, chronic or other severe diseases; I propose to add 36 life-saving drugs and medicines to the list of medicines fully exempted from basic customs duty." pic.twitter.com/YBjfk1BPKV
— ANI (@ANI) February 1, 2025
"I also propose to add six lifesaving medicines to the list attracting concessional customs duty of 5 per cent. Full exemption and concessional duty will also respectively apply on the bulk drugs for manufacture of the above," she added.
Govt to set up daycare cancer centres in district hospitals
Sitharaman announced 10,000 additional seats in medical colleges as well as daycare cancer centres in all district hospitals.
She highlighted that the country has witnessed remarkable growth in medical education over the last decade.
"10,000 additional seats to be added in medical colleges next year and 75,000 seats to be added in the next five years," she said.
“All district hospitals to have daycare cancer centres. About 200 daycare cancer centres will be established in 2025-26," the FM said.
Further, "broadband connectivity to primary health centres will help in expanding telemedicine consultation for rural patients at village level", she added.
Over the last decade, the number of medical colleges has doubled from 387 in 2013-14 to 780 in 2024-25, marking a 102% increase.
During the same period, there was also a substantial increase in MBBS seats, which have gone up by 130% from 51,348 to 1,18,137.
(With inputs from agencies)