Duties on life-saving drugs reduced

Agencies
Posted: Monday, Jul 06, 2009 at 1358 hrs IST
Updated: Monday, Jul 06, 2009 at 1358 hrs IST

Font Size

Feedback

Discuss

Budget 2009: Retail sector disappointed Govt to pump in Rs 2,080 cr for power development ...Economic survey suggests food coupons for poor peo...

New Delhi: The government reduced basic customs duty on influenza vaccine and nine other specified life-saving drugs used for treating breast cancer, Hepatitis-B, rheumatic arthritis, etc.

The government has also reduced basic customs duty for two bulk drugs used in manufacturing these medicines from 10 per cent to 5 per cent.

Bulk drugs are processed raw materials used in manufacturing the final doses of medicines.

"They (influenza vaccines, nine medicines and two bulk drugs) will also be totally exempt from excise duty and countervailing duty," Finance Minister Pranab Mukherjee said while presenting the Budget in the Lok Sabha on Monday.

Besides this, customs duty will also be reduced from 7.5 per cent to five per cent on two specified life-saving devices used in treating heart ailments, Mukherjee said.

These devices will also be fully exempt from excise duty and countervailing duty, he added.

Post Comments

Comments: (Limit 3,000 characters)

Name		Message
Email ID
Subject

TERMS OF USE:
The views, opinions and comments posted are your, and are not endorsed by this website. You shall be solely responsible for the comment posted here. The website reserves the right to delete, reject, or otherwise remove any views, opinions and comments posted or part thereof. You shall ensure that the comment is not inflammatory, abusive, derogatory, defamatory &/or obscene, or contain pornographic matter and/or does not constitute hate mail, or violate privacy of any person (s) or breach confidentiality or otherwise is illegal, immoral or contrary to public policy. Nor should it contain anything infringing copyright &/or intellectual property rights of any person(s).

I agree to the terms of use.