Budget 2024: Finance Minister Nirmala Sitharaman on Tuesday tabled the Union Budget 2024-25. During her Budget 2024-25 speech, Sitharaman made major announcements for the cancer patients of India. Sitharaman proposed that three cancer treatment medicines be exempted from basic customs duty completely.
The government has proposed to cut custom duties on Trastuzumab Deruxtecan, Osimertinib and Durvalumab from 10 per cent to nil.
She also proposed changes in the basic customs duty for X-ray tubes and Flat panel detectors for use in medical X-ray machines “under the phased manufacturing programme to synchronise them to domestic capacity addition.”
Dr. Harsh Mahajan, Founder & Chairman,Mahajan Imaging &Labs and Chairman FICCI Health Services Committee highlighted that the exemption of three life saving medicines for cancer treatment is a welcome step.
“Exemption of customs duty on components of Xray tubes and digital detectors, will lead to spurring of indigenous manufacturing of digital Xray machines in India. Allocation of funds for innovation and skilling will also help those who are working in the healthcare sector,” Dr. Mahajan said.
There is a concerning rise in cancer cases across India. Earlier this year, a report by Apollo Hospitals revealed that the country is expected to increase significantly, reaching approximately 15.7 lakh cases by 2025, up from 13.9 lakh cases in 2020. The most common cancers in India are breast, cervix, and ovarian cancer in women, and lung, mouth, and prostate cancer in men.
The Health Ministry has been allocated Rs 90,958.63 crore in the Union Budget 2024-25.
During the Interim Budget 2024 in February this year, the Health Ministry was allocated Rs 90,658.63 crore in the interim Budget for 2024-2025. The Ministry has witnessed a hike of 12.59 per cent over 80,517.62 crore in the Budget (revised estimates) for 2023-2024.
