Customs Duty Cuts: Cheaper Drugs and Luxury Vehicles Lead Union Budget Highlights

Finance Minister Nirmala Sitharaman has announced customs duty reductions on life-saving medicines and luxury vehicles in the Union Budget 2025-26. This move will make cancer treatments and certain motorcycles more affordable. However, imported interactive flat panels and certain knitted fabrics will face increased basic customs duties.

The Union Budget 2025-26, unveiled by Finance Minister Nirmala Sitharaman, introduces noteworthy cuts in customs duties making life-saving drugs, cancer medicines, and imported luxury vehicles more affordable.

The budget offers relief for those dealing with severe chronic diseases, as imported medicines for cancer treatments are set to become cheaper. Alongside, luxury cars and premium motorcycles will also experience customs duty reductions, making them more attainable for consumers.

Nevertheless, the budget balances these reductions with increased duties on interactive flat panel displays and certain knitted fabrics, which are expected to see price hikes due to changes in customs duties.

(With inputs from agencies.)