Union Budget 2024: 'Removing customs duty on cancer medicines will reduce financial burden on patients, but advanced treatments are still expensive'

The Union Budget 2024 was announced earlier today and saw quite a few advancements that will shape the future of India While experts dissect the many different areas that will see a significant impact its impact on healthcare is promising especially for cancer treatment believe healthcare expertsWith a boost to healthcare Indias Finance Minister Nirmala Sitharaman announced that three cancer medicines Trastuzumab deruxtecan Osimertinib and Durvalumab have been fully exempted from custom duty for cancer patients Further there will also be changes in basic customs duty on XRay tubes and flat panel detectors for domestic Xray machiness productionWith such important changes middaycom spoke to Indias healthcare experts to get their reactionsReny Varghese CAO Zynova Shalby Hospital MumbaiExempting three additional medicines from customs duties is set to ease the financial burden on cancer patients and their families opening doors to accessible treatment options and successful prognosis of the disease Many patients are already facing financial crisis due to repeated hospital admissions and longterm treatment so exempting custom duties on these lifesaving drugs will save lives reach the patient faster and will be affordable for them This is a great decision taken by the government to improve patient care and highlights its commitment to prioritize the health of the nation In parallel to this adjusting the Basic Customs Duty BCD on xray tubes and flat panel detectors will be a gamechanger move and will revolutionize diagnostic capabilities within medical facilities This step will make these components affordable and will motivate local manufacturers to innovate and produce highquality imaging equipment akin to international standards The ripple effect of these initiatives in the budget will play a pivotal role in enhanced patient outcomes through timely diagnoses and reducing the burden from the healthcare systemAnish Bafna CEO and MD Healthium MedtechThe exemption of custom duties on the three additional cancer formulations is an industrywelcoming move towards patient centricity easing the financial and socioeconomic burden of the disease on patients Additionally the detailed changes in basic custom duties on medical equipments like Xrays and flat panel detectors under the governmentrsquos phased manufacturing programme will go a long way to bolster the domestic production capacity for local players Such interventions from the government will propel conducive policymaking and enhance affordability and accessibility in healthcare while supporting manufacturing and innovation in the medical sectorTailored initiatives like Anusandhan National Research Fund for powering innovation research and prototype development will encourage the spirit of selfreliance promote talent and generate indigenous solutions in healthcareGautam Khanna CEO P D Hinduja Hospital amp President Association of Hospitals Mumbai and past Chair FICCI Health ServicesWhile the finance ministerrsquos union budget speech had comprehensive proposals on issues like job creation manufacturing power and infrastructure development there were relatively fewer announcements for healthcare The exemption of customs duty on three additional cancer medicines showcases a commitment to improving affordability and access to critical treatments potentially alleviating the financial burden on patients battling this challenging illness Concurrently the synchronisation of Basic Customs Duty on Xray equipment components with domestic manufacturing capacity demonstrates a nuanced approach to supporting local production while ensuring healthcare providers can access cuttingedge diagnostic tools The initiatives to boost startups like angel tax abolition with help the development of newage healthtech ventures which have the potential to provide innovative healthcare delivery solutions Additionally the announcement of setting up a medical college in Bihar is a welcome move however we would like to see faster implementation of this and similar proposals to set up medical colleges and nursing colleges announced in the previous budgets There were however no big measures to boost the healthcare sector as a whole like GST incentives for infrastructure development health insurance and faster implementation of national digital health missionDr Prasad Kasbekar Onco Surgeon at Wockhardt Hospitals Mumbai CentralThe decision by the finance ministry to exclude certain cancer medications from customs duty is a very welcome step Cancer is a major health problem in our country with a significant number of patients succumbing to the disease due to the prohibitive costs of continuous treatments By removing customs duty on specific cancer medications the government is taking a crucial step toward making these lifesaving drugs more affordable and accessible This policy change has the potential to significantly reduce the financial burden on patients and their families providing them with a better chance at survival and an improved quality of lifeCancer treatments are notoriously expensive often requiring patients to undergo multiple cycles of chemotherapy radiation and other therapies over an extended period The costs associated with these treatments can be overwhelming leading many patients to forego or discontinue necessary care The exclusion of customs duty on certain medications will help lower the overall cost of treatment enabling more patients to access the medications they needFurthermore we hope that this initiative is just the beginning and that the government will continue to expand the list of exempted items to include more drugs medicines surgical instruments and other essential items used in cancer treatments This comprehensive approach would further alleviate the financial strain on patients and ensure that they receive the best possible careParticularly advanced treatments such as immunotherapy and targeted therapy which can cost patients lakhs per month or year would become more affordable in the long term These innovative treatments have shown great promise in improving outcomes for cancer patients but their high cost remains a significant barrier to widespread use By extending customs duty exemptions to these highcost therapies the government can help make them more accessible to a broader population ultimately improving survival rates and quality of life for cancer patients across the countryDr Vivek Talaulikar COO Gleneagles Healthcare IndiaThe exemptions for essential cancer medicines and the rationalisation of customs duty rates are commendable providing muchneeded relief to patients and supporting domestic Xray machine production We appreciate the governments commitment to accessible and affordable healthcare for allOverall Budget 2024 reflects a comprehensive approach to healthcare addressing both immediate needs and longterm goals As a healthcare provider we are optimistic about the positive impact these initiatives will have on our patients and the broader communityDr Aditi Agrawal Breast Onco surgeon and general surgeon Wockhardt Hospitals Mira RoadIndia is home to millions of cancer patients who are struggling to get treatment due to the financial crisis Patients refrain from seeking treatment as it may seem unaffordable for many Exempting certain cancer treatment drugs from basic customs duties will transform the healthcare industry and increase affordability by ensuring timely treatment By offering exemption these drugs can be available for patient and their families and will help to reduce the burden of the disease This budget has given that muchneeded respite for cancer patients and is dedicated to improving the quality of life of patients This budget will play a crucial role in revolutionizing cancer treatment and will be a boon for patients The budget is geared towards enhancing access to healthcare services and infrastructure in India We support the allocations given in this budget that are aimed at improving the healthcare scenario in India