Healthcare Budget 2024: 3 Cancer Medicines Fully Exempted From Custom Duty, says FM Sitharaman

New Delhi: Union Finance Minister on Tuesday, July 23, presented the Union Budget for 2024-25 in the Parliament, and made a major announcement in the health sector. Sitharaman announced the exemption of customs duties on three cancer medicines, aimed to ease the financial burden on the patients.

Furthermore, the health minister additionally detailed on the changes in the Basic Customs Duty (BCD) on X-ray tubes and flat panel detectors that are used in medical X-ray machines under the Phased Manufacturing Program to "bolster domestic production capacity."

According to Sitharaman, these measures are part of the government's strategy to enhance healthcare affordability and accessibility in the country while also supporting local manufacturing and innovation in the medical sector.

This year, the Union Health Ministry has been allocated Rs 90,658.63 crore, marking a significant increase of 12.59 per cent from the revised estimate of Rs 80,517.62 crore in the 2023-2024 Budget.

In the interim budget, presented earlier this year, the government allocated a total of Rs 90,171 crore, a significant increase from the ₹79,221 crore allotted in 2023–24.

Furthermore, the interim budget included many noteworthy healthcare initiatives.

In one of the initiatives launched by the government to lower the cases of avoidable disease, a new campaign initiated to encourage immunisation against cervical cancer in girls aged 9 to 14 was introduced.

FM Sitharaman listed 9 priorities of Union Budget 2024:

1. Productivity and resilience in Agriculture
2. Employment & Skilling
3. Inclusive Human Resource Development and Social Justice
4. Manufacturing & Services
5. Urban Development
6. Energy Security
7. Infrastructure
8. Innovation, Research & Development
9. Next Generation Reforms

(This is a developing story, more details are to be added)