Customs Duty Cuts: Lifesaving Drugs, Premium Cars to Get Cheaper

The Union Budget 2025-26, unveiled by Finance Minister Nirmala Sitharaman, announces reduced customs duties on lifesaving drugs for severe diseases and imported premium vehicles, making them cheaper. However, increased duties on other items like interactive flat panel displays and various fabrics may raise their costs.

The Union Budget 2025-26, presented by Finance Minister Nirmala Sitharaman, introduces significant reductions in customs duties for imported lifesaving drugs and premium cars, offering relief to patients and luxury car enthusiasts alike.

A total of 36 lifesaving medications, including those treating cancer and rare diseases, will now be exempt from basic customs duty, while six additional medicines will attract just a 5% duty. Premium cars and motorcycles will benefit from reduced tariffs, alongside specified electronic toys and synthetic flavoring essences.

However, not all imported items face tariff cuts. Interactive flat panel displays, certain knitted fabrics, and other goods will see increased costs due to adjusted customs duties and the Agriculture Infrastructure and Development Cess.