Budget 2024 | Finance Minister Nirmala Sitharaman On Indirect Taxes

In her Budget 2024 speech, Finance Minister Nirmala Sitharaman announced key changes to indirect taxes aimed at providing relief and promoting domestic production. Three additional medicines for cancer patients will now be fully exempt from customs duty. The FM also mentioned a plan to rationalize customs duty rates after a review over the next six months, following a reduction in the number of rates in 2022-23. Additionally, she proposed changes in the basic customs duty on X-ray tubes and flat panel detectors to support the domestic production of X-ray machines. These measures are designed to enhance healthcare affordability and encourage local manufacturing.