During the Union Budget 2024 presentation in Parliament, Finance Minister Nirmala Sitharaman introduced noteworthy measures targeted at improving the healthcare industry.
The Union Health Ministry’s budget allocation for this year is Rs 90,658.63 crore, which is 12.59% more than the revised estimate of Rs 80,517.62 crore from the 2023–2024 Budget.
The Department of Health and Family Welfare will receive a significant portion of this allocation, with Rs 87,656.90 crore dedicated to its initiatives.
With this allocation of Rs 3,301.73 crore, the Department of Health Research would be able to sustain its support for medical research and development.
To lessen the financial burden on cancer patients, one of the major initiatives mentioned was the waiver of customs charges on three new cancer treatments.
In India, doctors frequently prescribe these three cancer drugs: trastuzumab Deruxtecan, osimertinib, and durvalumab, for bladder, lung, and breast cancer. According to experts, removing the customs tariff on them will reduce the cost of importation and make them accessible to cancer patients.
Sitharaman also emphasised modifications made to the Phased Manufacturing Program’s Basic Customs Duty (BCD) for flat panel detectors and X-ray tubes used in medical X-ray devices.
These changes will contribute to increasing domestic production capacity, demonstrating the government’s support for regional manufacturing and innovation in the healthcare industry.
