FM Sitharaman: No Tariffs on 17 Cancer Drugs, Boost for Cottage Industries

• Finance Minister Nirmala Sitharaman clarified that customs duty changes in the 2026-27 Union Budget were not influenced by US tariff policies.
• The government's long-term policy includes simplifying customs duties, with revisions made in successive budgets.
• Budget decisions prioritize domestic industries, citizens, and businesses, particularly promoting MSMEs for employment generation.
• The budget provides relief to labor-intensive sectors like marine products, leather, and textiles, which were affected by higher US tariffs.
• Key measures include full customs duty exemption for 17 cancer drugs, increased duty-free input limits for exporters, and tariff concessions for electronics, aviation, and defense sectors.

Why It Matters: FM Sitharaman announced no tariffs on 17 cancer drugs and emphasized boosting domestic industries and MSMEs.