New Delhi : Presenting her record ninth Budget, Finance Minister Nirmala Sitharaman introduced significant changes in customs duties that would impact both consumers and industries across India. Taxes on 17 cancer drugs and medicines for seven rare diseases would be exempt, making them cheaper. Moreover, microwave ovens and foreign tour packages will also get cheaper, with the government reducing the TCS rate on the sale of overseas tour packages.
However, on the other hand, luxury goods, including watches and alcohol, are set to attract more taxes, making them dearer.
As expected, the Budget did not have any big bang announcements or personal tax changes as Sitharaman followed a fiscal consolidation roadmap and announced cross-sector reforms. A major announcement was the boost to public capital expenditure (capex) to Rs 12.2 lakh crore for FY 2026–27, up from Rs 11.2 lakh crore allotted last year.
BUDGET 2026: WHAT GETS CHEAPER?
1) Cancer treatment costs are expected to reduce substantially, with Sitharaman announcing basic customs duty exemption on 17 essential cancer drugs and medicines.
2) Moreover, seven more rare diseases will be brought under duty exemptions for imports of drugs, medicines and foods. Thus, treatment for these dieseases are expected to become cheaper.
3) Foreign tour packages are also set to become cheaper. “I propose to reduce the TCS rate on the sale of overseas tour program packages from the current 5% and 20% to 2% without any stipulation of amount,” Sitharaman said.
“I propose to reduce the TCS rate for pursuing education and medical purposes under the liberalised remittance scheme from 5% to 2%,” she further said.
4) Microwave ovens will also see a reduction in prices, with the government set to exempt basic customs duty on specified parts used in the manufacture of the key kitchen appliance.
Costlier
1) Income tax misreporting: Penalty equal to 100% of the tax amount
2) Non-disclosure of movable assets: Now attracts a penalty
3) Stock options and futures trading: Securities Transaction Tax raised from 0.02% to 0.05%
Read Also : Budget 2026 Unveils Seven High‑Speed Rail Corridors To Revolutionise Inter‑City Travel Across India
-
-
-
-
