Some of the life-saving drugs will become cheaper as the central government has reduced basic customs duty on influenza vaccine and nine other specified life-saving drugs used for treating breast cancer, hepatitis-B, rheumatic arthritis, etc.
"They (influenza vaccines, nine medicines and two bulk drugs) will also be totally exempt from excise duty and countervailing duty," finance minister Pranab Mukherjee in his budget speech said.
The government has also reduced basic customs duty for two bulk drugs used in manufacturing these medicines from 10 per cent to five per cent. Besides, customs duty will also be reduced from 7.5 per cent to five per cent on two specified life-saving devices used in treating heart ailments. These devices will also be fully exempt from excise duty and countervailing duty.