Union Budget 2026: Rs 10,000 crore investment boost for pharma sector

Union Budget 2026: Finance Minister Nirmala Sitharaman made several announcements regarding the pharma sector in Budget 2026. Additionally, there will be an investment of ₹10,000 crore in the pharma sector.

Union Budget 2026: Presenting her ninth budget in the Lok Sabha, Finance Minister Nirmala Sitharaman made several important announcements regarding the healthcare sector. She stated that the Modi government's priority is to make medicines for common and long-term diseases such as sugar (diabetes) and cancer available to the general public at affordable prices.

Additionally, there will be an investment of ₹10,000 crore in the pharma sector. An investment of ₹10,000 crore will be made for drug manufacturing. In this budget, 'Bio Pharma Shakti' has been announced for drug manufacturing.

The Finance Minister announced that the government will take necessary steps to reduce the prices of these medicines, thereby lessening the financial burden of treatment on patients. This decision is expected to provide relief particularly to the middle class and elderly patients. She informed that the government aims to ensure that patients suffering from cancer, diabetes, and auto-immune diseases do not have to bear a significant financial burden for their treatment.

In line with this, the government is preparing to cut down the prices of medicines for these serious illnesses. Furthermore, an investment of ₹10,000 crore will be made in the pharma sector. An investment of ₹10,000 crore will be made for drug manufacturing. In this budget, 'Bio Pharma Shakti' has been announced for drug manufacturing.

Taxes on These Medicines Will Be Reduced

The Finance Minister clarified that the government's main focus is on reducing or completely eliminating the customs duty on these essential medicines. This will lower the cost of medicines, directly benefiting patients. People suffering from cancer, diabetes, and auto-immune diseases such as arthritis and lupus are expected to receive significant relief.

In today's times, the treatment for these diseases has become extremely expensive. Many patients require continuous medication for years, which significantly impacts their finances. The government believes that making medicines more affordable will bring treatment within everyone's reach, enabling people to seek timely medical care. This move by the government could prove beneficial, especially for the middle class and elderly patients. It will also have a positive impact on the country's healthcare system, as affordable medicines will ensure continuity of treatment.

Proposal for Customs Duty Reduction to be Implemented

Prioritising health in Budget 2026 demonstrates that the government considers the well-being of the general public as important as economic development. If this proposal for customs duty reduction is implemented, millions of patients could receive substantial relief in the coming times. Overall, this indication of making medicines more affordable in Budget 2026 is being considered a positive and relieving step for the general public.