Finance Minister Nirmala Sitharaman’s Budget Makes Cancer Drugs Cheaper
Union Finance Minister Nirmala Sitharaman presented the Union Budget, which exempts customs duty on three cancer drugs, making them more affordable for patients.
Commendations from Health Experts
Dr. Roderico H. Ofrin, WHO Representative to India, praised the exemption as a commendable step towards making life-saving treatments more accessible. Kiran Mazumdar Shaw, Chairperson of Biocon Limited, also appreciated the move but suggested GST exemptions for all cancer drugs.
Expert Opinions
Dr. Chintamani, Chairman of Surgical Oncology at Sir Gangaram Hospital, emphasized the high cost of cancer treatment and welcomed the reduction in drug prices. He highlighted specific drugs like Deruxtecan, Osimertinib, and Durvalumab that will benefit from the duty exemption.
Industry Reactions
Sudarshan Jain, Secretary General of the Indian Pharmaceutical Alliance, praised the budget for its focus on health and manufacturing. He highlighted the budget’s initiatives to support the pharmaceutical industry and its emphasis on research and development.
Budget Highlights
The budget, presented during the Monsoon Session of Parliament, outlined nine key priorities aimed at fostering economic growth and creating opportunities. The session began on July 22 and will end on August 12.
Doubts Revealed
Finance Minister -: The Finance Minister is a person in the government who is responsible for managing the country’s money and finances. In India, this person is Nirmala Sitharaman.
Union Budget -: The Union Budget is a plan made by the government about how it will spend and earn money in the coming year. It includes details about taxes, spending on public services, and other financial plans.
Customs duty -: Customs duty is a tax that the government charges on goods that are brought into the country from other countries. By exempting customs duty, the government is making these goods cheaper.
Cancer drugs -: Cancer drugs are medicines used to treat cancer, a serious disease where cells in the body grow uncontrollably. Making these drugs cheaper helps more people afford the treatment.
WHO -: WHO stands for the World Health Organization. It is a global organization that works to improve health and fight diseases around the world.
Biocon -: Biocon is an Indian company that makes medicines, including those for cancer. Kiran Mazumdar Shaw is the founder of this company.
Sir Gangaram Hospital -: Sir Gangaram Hospital is a well-known hospital in Delhi, India. Dr. Chintamani works there and is an expert in treating cancer patients.
Indian Pharmaceutical Alliance -: The Indian Pharmaceutical Alliance is a group of Indian companies that make medicines. Sudarshan Jain is a representative from this group.
Economic growth -: Economic growth means the country is getting richer and more people are getting jobs and earning money. The budget aims to help the country grow economically.
