Union Budget 2024: Government to exempt three more cancer drugs from customs duty
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In a big relief to cancer patients, Union Finance Minister Nirmala Sitharaman, while presenting the Union Budget 2024, exempted customs duty on three cancer drugs.
The three drugs are Trastuzumab deruxtecan, Osimertinib and Durvalumab. The reduction in customs duty may help reduce the financial burden on those battling the deadly disease.
In her seventh budget speech, the Union Minister also called for exemptions in custom duties on X-ray tubes and flat panel detectors.
"I also propose changes in the BCD (Basic Customs Duty), X-ray tubes, and flat panel detectors for use in medical X-ray machines under the phased manufacturing programme to synchronise them with domestic capacity addition," said FM Sitharaman.
According to the recent 4th edition of Apollo Hospitals' Health of Nation Report, cancer cases are skyrocketing across the country.
The report dubbed India the "cancer capital of the world".
In 2019, India registered about 12 lakh new cancer cases and 9.3 lakh deaths in 2019, becoming the second highest contributor to the disease burden in Asia, as per a Lancet study.
The number increased to 13.9 lakh in 2020, which then rose to 14.2 lakh and 14.6 lakh in 2021 and 2022, respectively.
