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Latest Union Budget 2024 Highlights on Pharma and life science sector | EY India
The Hon’ble Finance Minister, presented the Union Budget 2024 on 23 July 2024 in the Lok Sabha.
The key highlights in respect of pharma and life science sector are:
- A commitment to enhance R&D.
- Elimination of customs duties on select cancer medications and a reduction of Basic Customs Duty (BCD) on certain lifesaving drugs, medicinal products and medical equipmen
- Elimination of the angel tax is also anticipated to bolster the pharmaceutical start-up ecosystem