In a big relief to the health sector, Finance Minister Nirmala Sitharaman announced an exemption from basic customs duty for 36 life-saving drugs. These include drugs for cancer and other rare and chronic diseases. As per Sitharaman, 36 life-saving drugs will have full exemption from duties and tax. The FM also said that six life-saving drugs will have a 5% duty.
Addressing the Lok Sabha on Union Budget 2025, Sitharaman further said, “Our economy is the fastest growing among all major economies. Our development track record for the past 10 years and structural reforms have drawn global attention. Confidence in India’s capability and potential has only grown in this period. We see the next 5 years as a unique opportunity to realise sabka vikas, stimulating balanced growth of all regions.”
As Sitharaman presented the Union Budget 2025-26, she outlined the key priorities to accelerate economic growth, ensure inclusive development, support industries, and enhance household sentiment. The budget also emphasised increasing spending power for India’s growing middle class.
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