Budget 2025: 36 life-saving drugs exempted from basic customs duties
What's the story
Finance Minister Nirmala Sitharaman has announced that a total of 36 life-saving medicines have been exempted from basic customs duties, which could bring down healthcare costs for many Indians.
"To provide relief to patients, especially those suffering from cancer and rare disease, I propose 36 life saving drugs in fully exempted custom duties," she said in her Budget 2025 speech.
Cost reductions
Budget 2025: Key items that have become cheaper
The government has also proposed a full exemption on lead, zinc, and 12 other minerals from basic customs duty.
In a bid to give a boost to the shipbuilding industry, basic customs duty has been waived on raw materials for manufacturing ships for another decade.
Further, marine products will now attract a reduced basic customs duty of just 5%, from the earlier 35%.