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Cancer medicines exempted from customs duty in Budget 2024

Cancer medicines exempted from customs duty in Budget 2024

Union Finance Minister, Smt. Nirmala Sitharaman announced the exemption of three additional cancer medicines—Trastuzumab Deruxtecan, Osimertinib, and Durvalumab—from customs duty as she presented the Union Budget 2024-25 in Parliament today. The request was forwarded by the Ministry of Health and Family Welfare (MoHFW) to the Ministry of Finance in view of the 27 lakh cancer patients in the country. To improve the affordability of these drugs, Ministry of Finance has exempted them from the customs duty.

The three cancer drugs namely Trastuzumab Deruxtecan, Osimertinib and Durvalumab are used for different tumor types viz.

  1. Trastuzumab Deruxtecan - Breast Cancer
  2. Osimertinib - Lung Cancer; and
  3. Durvalumab - Lung Cancer and Biliary Tract Cancer

The Union Finance Minister also revised the custom duty rates on X-ray tubes and flat panel detectors. These revised rates are expected to positively impact the X-ray machine industry by enhancing component availability at lower costs. This change is anticipated to boost the domestic medical device sector, contribute to component availability at lower costs and reduced healthcare costs, making advanced medical imaging more accessible and affordable.

The budget expenditure for FY 2024-25 under the National Health Mission (NHM) has also been increased by approx. Rs 4000 Cr from Rs 31,550 Cr to Rs 36000 Cr. NHM is Central Sponsored Scheme which primarily caters to the Primary and Secondary Healthcare service delivery in the Nation. The focus of the Government is to invest in the Primary and Secondary Public Healthcare facilities for implementing the preventive and curative aspects of Health to reduce the Out of Pocket Expenditure of the public at large.

To drive productivity gains, business opportunities, and innovation by the private sector, the budget proposes the development of Digital Public Infrastructure (DPI) applications at a population scale. These initiatives aim to enhance various sectors, including credit e-commerce, education, health, law and justice, logistics, MSME services, delivery, and urban governance.

Furthermore, in the Union Budget 2024-25, a proposal has also been made to develop 100 weekly “haats” or street food hubs in select cities. This initiative aims to invigorate local economies and enhance the street food experience, further contributing to urban development and community engagement.

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