The Union Budget for the year 2024-25 was announced on July 23 by Finance Minister Nirmala Sitharaman. The healthcare landscape in post-COVID India has been significantly altered, with healthcare now a top priority for the citizens. However, whether it is a government’s priority or not, that is questionable, as this year’s budget speech mentioned the word “health” only four times.
The total Union Budget for 2024-25 is 90,958.63 crore, out of which 87,656.90 crore has been allocated to the Health and Family Welfare Department, with the remaining 3,301.73 crore allocated to the Health Research Department.
However the Union Budget 2024-25 has brought significant relief to cancer patients across the country by eliminating custom duties on crucial cancer medicines. This move is expected to benefit approximately 27 lakh cancer patients, easing their financial burden. The three cancer drugs – Trastuzumab Deruxtecan, Osimertinib, and Durvalumab – will now be more accessible and affordable, facilitating better treatment options for those in need and saving patients from a life taking disease like cancer.
In addition to removing custom duties on cancer medicines, the budget also exempts custom duties on X-ray tubes and flat panel detectors used in medical imaging. This exemption is aimed at reducing the cost of medical machinery used for X-rays, making healthcare services more cost-effective and accessible to the public.
The Finance Minister also introduced initiatives to digitalize the health sector, emphasising the importance of leveraging digital technology to enhance healthcare delivery. This initiative is expected to improve efficiency, scalability, and innovation within the healthcare system, ultimately benefiting both healthcare providers and patients.
The budget also proposed the establishment of new medical colleges in Bihar, addressing the need for enhanced healthcare infrastructure and medical education. This step is crucial in expanding access to quality healthcare services and developing a skilled healthcare workforce.
Furthermore, there are changes in the Basic Customs Duty (BCD) on X-ray tubes and flat panel detectors with a reduction from 15% to 5% that aims to boost local manufacturing capabilities.
The Finance Minister also highlighted the importance of digital public infrastructure across various sectors, including healthcare, which is expected to drive productivity gains, create business opportunities, and foster innovation in the private sector.
