India's Budget: Customs Duty Exemptions for Cancer Drugs Announced

Union Finance Minister Nirmala Sitharaman announced customs duty exemptions on three cancer drugs in the Union Budget. Indian Medical Association President Dr RV Asokan highlighted that the budget maintains the status quo for health concerns, with minimal changes except for some import duty reductions.

Union Finance Minister Nirmala Sitharaman presented the Union Budget on Tuesday, unveiling customs duty exemptions on three critical cancer drugs to enhance their affordability. Indian Medical Association (IMA) President Dr. RV Asokan noted that the budget maintains the status quo regarding health initiatives but underscored the import duty reductions on X-ray components and cancer drugs.

'This budget is status quo for health concerns, with only two silver linings: customs duty exemptions on diagnostics and cancer drugs. The economy has moved from USD 3.4 trillion to USD 4 trillion,' Dr. Asokan stated.

He highlighted that the national health expenditure remains at around four per cent of GDP, equivalent to 13 lakh crores, with government health investments stagnant at 1.1 per cent of GDP. Furthermore, the health budget allocation has decreased when adjusting for inflation and economic expansion.

'The programmes announced in the previous budget, such as HPV vaccination and sickle cell disease intervention, have yet to be rolled out,' Dr. Asokan remarked.

World Health Organisation (WHO) Representative to India, Dr. Roderico H Ofrin, also praised the customs duty exemptions on cancer drugs, calling it a commendable step. 'This boost in fund allocation for health, including AYUSH, highlights the government's dedication to health promotion, disease elimination, and enhancing public healthcare services,' Ofrin told ANI.

(With inputs from agencies.)