Electric Cars, Mobile, TV gets cheaper; No tax on 36 life saving drugs

Finance Minister Nirmala Sitharaman, while presenting the Union Budget 2025, announced significant tax reforms aimed at reducing costs on essential medicines and popular consumer products. The biggest relief comes for patients battling cancer and other serious diseases, as 36 life-saving medicines will now be completely tax-free. This move is expected to bring much-needed financial relief to families struggling with high treatment costs.

In addition to this, the Finance Minister declared a reduced 5% custom duty on six critical life-saving medicines, further easing the burden on patients who rely on imported drugs for survival. Sitharaman highlighted that the government’s focus remains on making healthcare affordable and accessible to all, especially for those fighting life-threatening diseases.

But the budget wasn’t just about healthcare. The Finance Minister also announced measures to make daily life more affordable. Smartphones, LED and LCD TVs, and electric cars will now become cheaper thanks to revised import duties and tax adjustments. This move aims to boost the electronics industry, promote green mobility, and encourage digital accessibility across the country.

Sitharaman stated, “Our budget reflects the twin goals of strengthening healthcare and making essential technology affordable for every citizen. We are committed to reducing the financial strain on both patients and consumers.”

These changes are expected to stimulate both the healthcare and technology sectors. Cheaper electric cars align with India’s push for sustainable energy, while reduced costs of smartphones and TVs will benefit millions of households, bridging the digital divide in rural and urban areas alike.