Life saving drugs, medicines cheaper; knitted fabrics, smart meters costlier

Imported life saving drugs and medicines used in the treatment of cancer, rare and other severe chronic diseases, along with imported premium cars and motorcycles, are set to become cheaper with Finance Minister Nirmala Sitharaman announcing cuts in customs duty in the Union Budget 2025-26. Significantly, as per the budget announcement imported premium cars and other motor vehicles with CIF value more than USD 40,000 or with engine capacity more than 3,000 cc for petrol-run vehicles and more than 2,500 cc for diesel-run vehicles or with both will become cheaper as the customs duty has been reduced to 70 per cent from 100 per cent earlier. Similarly, motorcycles with engine capacity of 1,600 cc and above imported in completely built unit form will also be cheaper as tariff has been slashed to 30 per cent from 50 per cent. Likewise, bikes with engine capacity not exceeding 1,600 cc imported as CBU will also become cheaper as tariff has been cut to 40 per cent from 50 per cent. Interactive Flat Panel Displays which are imported as completely built units will also become costlier as the duty has been hiked to 20 per cent from 10 per cent earlier.