Budget 2024: Significant Relief for Cancer Patients as Three Medicines Become Cheaper

Budget 2024-25

Budget 2024-25, Finance Minister Nirmala Sitharaman has announced notable relief for cancer patients. During her speech in Parliament on Tuesday, she disclosed that three essential cancer treatment medicines would now be exempt from basic customs duty, making them more affordable for patients. Nirmala Sitharaman said, “To aid cancer patients, I propose to fully exempt three additional medicines from customs duties. I also include changes to the Basic Customs Duty on x-ray tubes and flat panel detectors used in medical x-ray machines…”.

This measure is part of a broader initiative by the government to make healthcare more affordable and accessible. By removing customs duties on these cancer medicines, the government aims to lessen the financial burden on patients and their families, ensuring that life-saving treatments are more accessible.

Additionally, the Finance Minister outlined changes to the Basic Customs Duty on x-ray tubes and flat panel detectors used in medical X-ray machines. These changes are part of the Phased Manufacturing Program, which aims to increase domestic production and reduce dependence on imported medical equipment.

The adjustments to customs duties on X-ray tubes and flat panel detectors are expected to promote local manufacturing and innovation within the medical sector. By fostering domestic production, the government hopes to create jobs, enhance technological capabilities, and lower the overall cost of medical equipment in India.

These efforts underscore the government’s commitment to improving the healthcare system. By making essential medicines and medical equipment more affordable, the goal is to improve the quality of care and ensure advanced treatments are available to a wider segment of the population.-(Budget 2024-25)

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