Health Budget 2024: To provide relief to cancer patients, Finance Minister Nirmala Sitharaman proposes to fully exempt three medicines from customs duties. Published: July 23, 2024 2:05 PM IST By Edited by Union Finance Minister announced significant relief for cancer patients in the During her presentation in Parliament on Tuesday, she revealed that three cancer treatment medicines would be exempted from basic customs duty, making these crucial drugs more affordable for patients. In her Budget speech, Sitharaman stated, “To provide relief to cancer patients, I propose to fully exempt three more medicines from customs duties.
I also propose changes in the BCD on x-ray tubes & flat panel detectors for use in medical x-ray machines...
”. This move is part of a broader effort by the government to enhance healthcare affordability and accessibility. By exempting these cancer medicines from customs duty, the government aims to reduce the financial burden on patients and their families, ensuring that life-saving treatments are within reach for more people.
In addition to the exemption on cancer treatment medicines, the Finance Minister also outlined modifications to the Basic Customs Duty (BCD) on X-ray tubes and flat panel detectors used in medical X-ray machines. These changes are part of the Phased Manufacturing Program, which seeks to boost domestic production capacity and reduce reliance on imported medical equipment. The adjustments in customs duty on X-ray tubes and flat panel detectors are expected to encourage local manufacturing and innovation in the medical sector.
By promoting domestic production, the government aims to create jobs, enhance technological capabilities, and reduce the overall cost of medical equipment in India. These initiatives reflect the government’s commitment to improving the healthcare system in India. By making essential medicines and medical equipment more affordable, the government hopes to enhance the quality of care available to patients and ensure that advanced medical treatments are accessible to a larger segment of the population.
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