Budget 2024 Healthcare Announcement: Tax Exemptions On Cancer Medicines, Focus On Tribal Communities, And More

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Finance Minister Nirmala Sitharaman presented her 7th consecutive Union Budget 2024 in Parliament on 23 July 2024 and the live telecast was watched by millions of Indians who were eagerly waiting for the major announcements.

This is the outline of the Modi 3.0 government action plan for the development of India in the next five years.

The 2024-25 budget has focussed on nine priorities- Productivity and resilience in agriculture, Employment and skilling, Improved human resources and social justice, Manufacturing and services, Urban Development, Energy security, Infrastructure, Innovation, research and development, and Next-generation reforms.

Here are key takeaways from Nirmala Sitharaman's speech that highlights announcements specifically related to the healthcare industry.

1. The government will exempt three more medicines for cancer treatment from customs duty.
2. Government to launch scheme to develop 100 street food hubs in select cities over five years.
3. Under PM Awas Yojna, 3 crore additional houses in rural & urban areas have been announced, and allocations have been made.
4. The budget allocates more than ₹3 Lakh crores for schemes benefitting girls and women to enhance their role in economic development.
5. PM Janjatiya Unnat Gram Abhiyan - to be launched to improve the socio-economic conditions of India's tribal communities. This will cover 63,000 villages and benefit 5 crore tribal people.

The Economic Survey for 2023-24 was presented on 22 July 2024 at the start of the Monsoon session in Parliament. Sitharaman had described India's economy as being on a "strong wicket and stable footing," resilient against geopolitical challenges.