Breaking India News Today | In-Depth Reports & Analysis – IndiaNewsWeekBreaking India News Today | In-Depth Reports & Analysis – IndiaNewsWeek
  • Home
  • Nation
  • Politics
  • Economy
  • Sports
  • Entertainment
  • International
  • Technology
  • Auto News
Reading: Customs Duty Relief for Critical Medicines in Patient Assistance Programs
Share
Breaking India News Today | In-Depth Reports & Analysis – IndiaNewsWeekBreaking India News Today | In-Depth Reports & Analysis – IndiaNewsWeek
  • Home
  • Nation
  • Politics
  • Economy
  • Sports
  • Entertainment
  • International
  • Technology
  • Auto News
© 2024 All Rights Reserved | Powered by India News Week
Trending Now: Stay updated with the latest breaking news from India and around the world
Critical medicines under Patient Assistance Programmes get some basic customs duty relief
Breaking India News Today | In-Depth Reports & Analysis – IndiaNewsWeek > Nation > Customs Duty Relief for Critical Medicines in Patient Assistance Programs
Nation

Customs Duty Relief for Critical Medicines in Patient Assistance Programs

Nation Desk By Nation Desk February 2, 2025 3 Min Read
Share
SHARE

The recent Union Budget has proposed an expansion of Patient Assistance Programs (PAP), introducing a full exemption from basic customs duty (BCD) for 37 medicines as long as they are provided free of charge to patients.

This initiative includes medications from ten multinational pharmaceutical companies participating in these programs. PAPs aim to alleviate the financial burden on patients by offering costly treatments for conditions such as cancer at little to no cost or at a reduced price. Industry experts, including Hitesh Sharma, a partner and national life sciences tax leader at EY India, noted that participating companies should achieve a cost reduction of at least 5%, which would enhance patient access under these programs.

In her Budget speech, the Finance Minister mentioned, “Specified drugs and medicines under Patient Assistance Programs operated by pharmaceutical companies are completely exempt from BCD, provided these medicines are supplied free of cost to patients. I propose to add 37 more medicines along with 13 new patient assistance programs.”

Anil Matai, the Director General of the Organisation of Pharmaceutical Producers of India (OPPI), expressed that the BCD exemption would not only expand program access for more patients but would also encourage additional companies to initiate similar initiatives. Experts believe that patients suffering from cancer, rare diseases, and various chronic conditions may benefit significantly, as the Budget has exempted 36 life-saving drugs and medicines from BCD. Additionally, another six essential medicines were included in a category with a reduced customs duty of 5%. The Finance Minister also stated that full exemptions and concessional duties would apply to bulk drugs necessary for the production of these medicines.

However, advocates for public health have called on the government to ensure that these benefits are truly passed on to patients. KM Gopakumar from the Third World Network raised concerns about the lack of transparency in drug pricing, reminding that similar initiatives in the past have not provided significant benefits to patients.

Moreover, the Budget emphasized the establishment of daycare cancer centers in all district hospitals over the next three years, with a target of opening 200 centers by the 2025-26 fiscal year.

TAGGED:National NewsNews
Share This Article
Twitter Copy Link
Previous Article Market gives mixed response for the Budget Budget impact: Market reactions split
Next Article Budget 2025:  Nil custom duties on waste and scrap of 12 critical minerals 2025 Budget: Zero Custom Duties on 12 Critical Mineral Waste and Scrap
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Latest News

India bonds could reverse some gains as US-Iran peace deal flip-flop continues

US-Iran Peace Deal Volatility Threatens Reversal of Gains in Indian Bonds Market

May 7, 2026
Sunrisers Hyderabad continue to dominate Punjab Kings in IPL 2026, surpass KKR and CSK's tally

Sunrisers Hyderabad Triumph Over Punjab Kings in IPL 2026, Outperforming KKR and CSK’s Records

May 7, 2026
Stock Market Today Live: Sensex, Nifty likely to gain on easing oil prices and positive global cues

Sensex and Nifty Poised for Gains as Oil Prices Drop and Global Markets Strengthen

May 7, 2026
Ahead of Rubio visit, Gor hails India’s $20bn likely investment

Gor Praises India’s Potential $20 Billion Investment Before Rubio’s Upcoming Visit

May 7, 2026
Stock that will see action today: 19 March 2025

Market Buzz: Key Stocks to Watch – Motherson, Clean Max, Thyrocare, and Zaggle Shine Bright

May 7, 2026
BMW Industries posts record quarterly profit, stock surges 14.5%

BMW Industries Reports All-Time High Quarterly Profit, Stock Soars 14.5%

May 7, 2026

You Might Also Like

Premium for Indian silver EFTs surges on global physical shortage
Economy

Surge in Indian Silver EFT Premium Amid Global Physical Shortage

4 Min Read
Market volatility continues: Sensex and Nifty slide amid midday trading
Economy

Stocks tumble as market volatility persists: Sensex and Nifty drop during midday trading

2 Min Read
World Economic Forum 2025: Tamil Nadu, Maharashtra, Telangana, Andhra Pradesh and other States gear up
Nation

Indian States Prepare to Shine at World Economic Forum 2025

5 Min Read
IT stocks power Sensex, Nifty higher; broader markets decline 
Economy

Tech stocks drive markets higher, broader indices falter.

3 Min Read

About IndiaNewsWeek

IndiaNewsWeek is your trusted source for breaking news, in-depth analysis, and comprehensive coverage of India and the world. We deliver accurate, timely reporting across politics, economy, sports, entertainment, and technology.

contact@indianewsweek.com

Quick Links

  • Nation
  • Politics
  • Economy
  • International
  • Sports
  • Entertainment

More Sections

  • Technology
  • Auto News
  • Education
  • About Us
  • Contact
  • Privacy Policy

Stay Connected

Follow us on social media for the latest updates and breaking news.

Facebook
X (Twitter)
YouTube
Follow US
© 2026 IndiaNewsWeek. All Rights Reserved.
Welcome Back!

Sign in to your account

Lost your password?