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vitalfork.com > Blog > Celebs > Fashion > Budget 2024: Allocation for health rises 12.59% to Rs 90,658.63 crore
Budget 2024: Allocation for health rises 12.59% to Rs 90,658.63 crore
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Budget 2024: Allocation for health rises 12.59% to Rs 90,658.63 crore

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Last updated: July 23, 2024 2:02 pm
VitalFork
Published July 23, 2024
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Budget 2024: Allocation for health rises 12.59% to Rs 90,658.63 croreFinance Minister Nirmala Sitharaman announced key measures to strengthen India’s healthcare sector in the Union Budget 2024. This includes more funding and tax exemptions on crucial cancer drugs.In short

Budget 2024: Allocation for health rises 12.59% to Rs 90,658.63 crore

Finance Minister Nirmala Sitharaman announced key measures to strengthen India’s healthcare sector in the Union Budget 2024. This includes more funding and tax exemptions on crucial cancer drugs.

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Union Finance Minister Nirmala Sitharaman showing a red bag full of budget documents outside the Finance Ministry
Union Finance Minister Nirmala Sitharaman shows the red bag containing budget documents. (Photo: PTI)

In short

  • Health Ministry’s budget allocation increased by 12.59% to Rs 90,658.63 crore
  • Three cancer drugs exempted from customs duty
  • Change in Basic Customs Duty (BCD) on X-ray Tubes and Flat Panel Detectors

Presenting the Union Budget 2024 in Parliament, Finance Minister Nirmala Sitharaman unveiled key initiatives aimed at boosting the healthcare sector.

The budget allocation for the Union Health Ministry this year is Rs 90,658.63 crore, which is 12.59% higher than the Revised Estimate of Rs 80,517.62 crore in the Budget 2023-2024.

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.

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The Department of Health Research will receive Rs 3,301.73 crore, ensuring continued support for medical research and development.

One of the major measures announced was exemption from customs duty on three additional cancer drugs, to reduce the financial burden on patients suffering from cancer.

The Department of Health Research will receive Rs 3,301.73 crore, ensuring continued support for medical research and development. (Photo: PTI)
The Department of Health Research will receive Rs 3,301.73 crore, ensuring continued support for medical research and development. (Photo: PTI)

These three cancer drugs: trastuzumab deruxtecan, osimertinib and durvalumab, are commonly prescribed for breast cancer, lung cancer and bladder cancer in India. Experts have said that exempting them from customs duty will reduce their import cost and make them affordable for cancer patients.

Dr Mandeep Singh Malhotra, director of surgical oncology at CK Birla Hospital in Delhi, said these drugs are prescribed during typical cancer treatment in India.

Trastuzumab deruxtecan: It’s typically prescribed for patients with advanced HER2-positive breast cancer who haven’t responded to other treatments. It’s relatively new, but has shown significant promise in clinical trials.

Osimertinib: It is widely prescribed for patients with EGFR-mutated non-small cell lung cancer. It is often used as a first-line treatment and is also prescribed for patients whose cancer has progressed despite other EGFR inhibitors.

Dr Aditya Sarin, Associate Consultant, Department of Medical Oncology, Sir Ganga Ram Hospital, said the reduction in the price of osimertinib, an anti-EGFR drug used in lung cancer, is expected to have a significant impact.

“Osimertinib has revolutionized the treatment of EGFR-mutated lung cancer, leading to improved quality of life and better outcomes. The reduced cost will make this life-saving drug accessible to a wider patient population,” said Dr. Sarin.

Durvalumab: It is commonly used in the treatment of advanced non-small cell lung cancer and bladder cancer, especially when initial treatments have failed. It is also used in combination with other treatments to increase efficacy.

These three cancer drugs: trastuzumab deruxtecan, osimertinib and durvalumab, are commonly prescribed in India.
These three cancer drugs: trastuzumab deruxtecan, osimertinib and durvalumab, are commonly prescribed in India.

Sitharaman also highlighted changes in basic customs duty (BCD) on X-ray tubes and flat panel detectors used in medical X-ray machines under the phased manufacturing programme.

These adjustments will help enhance domestic production capacity, reflecting the government’s commitment to support local manufacturing and innovation in the medical sector.

The Union Budget 2024 strengthens healthcare, enhancing access to treatment and medical infrastructure with duty exemption on cancer drugs, new medical college in Bihar and revised customs duty on X-ray equipment.
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,#developedindiabudget #budgetsession2024#budgetsession– pic.twitter.com/AAhpe78syW
— Ministry of Health (@MoHFW_INDIA) July 23, 2024

“The proposed change in BCD (basic customs duty) for X-ray tubes and flat panel detectors under the phased manufacturing programme will significantly benefit domestic OEM manufacturers by reducing costs, encouraging local sourcing and enhancing competition,” Dr Ashutosh Raghuvanshi, MD and CEO, Fortis Healthcare Ltd, told IndiaToday.in.

This alignment will boost local manufacturing, promote technological investments and support the ‘Atmanirbhar Bharat’ initiative.

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