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Union Finance Minister Nirmala Sitharaman on Tuesday presented the Union budget, which exempts customs duty on three cancer drugs and makes them affordable for patients.
Dr Roderico H Ofrin, the World Health Organization (WHO) Representative to India said that the customs duty exemptions on three cancer treatment drugs is a commendable step. Speaking with ANI, Ofrin said, "The significant boost in fund allocation for health, including AYUSH, underscores the government's commitment to health promotion, disease elimination and strengthening public healthcare services." He said further, "Additionally, customs duty exemptions on three cancer treatment drugs demonstrate a focused effort to make life-saving treatments more affordable and accessible. These actions are commendable steps towards health for all." Meanwhile, Kiran Mazumdar Shaw, Chairperson, Biocon Limited and Biocon Biologics said, "The removal of customs duty on three cancer drugs will provide relief to cancer patients. However, the government needs to consider GST exemption for all cancer drugs to make cancer care more affordable for patients." According to Dr. (Prof.) Chintamani, Chairman of Surgical Oncology at Sir Gangaram Hospital on exemption of Anticancer drugs, "Anticancer treatment, in general, is a very expensive treatment and with India becoming the cancer capital of the world and most people being from poor strata, any reduction in the cost of management is hugely welcome." Chintamani further said, "Anti-cancer treatment includes state-of-the-art surgery, expensive chemotherapy, and newer modalities of radiation. All these need to be made cheaper. It is truly a welcome step making cancer drugs like Deruxtecan which is used in breast cancer in patients with HER2 positive gene and Osimertinib in lung cancer for EGFR mutation. With the duty being exempted, these drugs will become affordable for patients." He further explained, "Drugs like Durvalumab, a drug for lung and biliary tract cancer having being made cheaper by removing the duties is going to help patients. On the whole, it is truly a welcome step in the right direction where more and more life-saving anticancer drugs and anti-cancer treatment should become affordable." Meanwhile, Sudarshan Jain, Secretary General, Indian Pharmaceutical Alliance also praised the budget and said, "The Union Budget 2024 focuses on priorities to propel holistic growth towards achieving 'Viksit Bharat' by 2047." He added, "The Indian pharmaceutical industry is a global manufacturing hub contributing 20 per cent of worldwide generics demand. The budget introduces various initiatives for supporting manufacturing that will bolster Indian pharma's volume leadership. We welcome the strong emphasis on R&D such as a renewed focus on basic research, exemption of customs duty on cancer drugs and removal of angel tax for start-ups. Furthermore, the various schemes for employment and skilling align with the pharma industry's commitment to upskilling talent, building global competitiveness and moving up the value chain. Lastly, the simplification of taxes will foster an enabling ecosystem, enhancing the Ease of Doing Business." Finance Minister Nirmala Sitharaman, on Tuesday, presented the first Union Budget of the Modi 3.0 government and her seventh consecutive one during the Monsoon Session of Parliament. The Finance Minister's seventh consecutive Union Budget for 2024-25 outlined nine key priorities aimed at fostering economic growth and creating ample opportunities. The budget session of Parliament began on July 22 and is scheduled to end on August 12. (ANI)
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