Archive · 2 Feb 2026
Budget 2026: Healthcare, EVs, and Youth Focus
The Union Budget 2026-27 has some big news for different groups of people.
For those fighting cancer or rare diseases, the government has decided to remove extra taxes on important medicines, making them cheaper.
This will help many people who need these expensive treatments.
The budget also gives a big push to electric vehicles (EVs) by removing taxes on parts like batteries, which should make EVs more affordable.
There are also plans to create more jobs and improve skills for young people, especially in areas like tourism, healthcare, and new technologies.
The government is also putting more money into building things like roads, railways, and schools.
They are also making it easier for businesses to grow, especially small and medium-sized ones.
Overall, the budget is trying to make life better and more affordable for many people in India.
Basic customs duty removed on 17 cancer-related drugs and import exemptions announced for seven rare diseases to make treatments more affordable.
Customs duty exemption for lithium-ion batteries used in battery energy storage systems and sodium antimonate used in solar glass manufacturing to reduce costs and make electric vehicles more affordable.
Measures aim to reduce financial burden on families, particularly those without comprehensive insurance, and create job opportunities in various sectors.
Government expects cost savings to be passed on to patients and consumers, easing out-of-pocket expenses and promoting affordability.
Industry observers welcome the move but highlight the need for broader healthcare financing strategies and domestic production of critical components.
- Who
- Cancer patients, rare disease patients, EV consumers, youth, MSMEs, healthcare professionals, educators, researchers, investors, global businesses
- What
- Removal of basic customs duty on 17 cancer drugs and import exemptions for 7 rare diseases, customs duty exemption for lithium-ion batteries and sodium antimonate, increased PLI for automobile industry, establishment of National Institute of Hospitality, setting up of Allied Health Professional Institutes, training of geriatric caregivers, establishment of AVGC Content Creator Labs, creation of MSME growth fund, increased capital expenditure, proposal of high-speed rail corridors, Biopharma Shakti initiative, establishment of regional medical hubs, setting up of girls' hostels, establishment of new National Institute of Design, creation of university townships, setting up of telescope infrastructure facilities, tax holiday for cloud service providers, raising of safe harbour threshold for IT services
- When
- Announced in the Union Budget 2026-27
- Where
- India
- Why
- To make life-saving therapies more affordable, improve access to essential treatment, reduce costs and make electric vehicles more affordable, create job opportunities, strengthen the healthcare workforce, promote medical tourism, enhance the global competitiveness of Indian higher education institutions, improve the global integration of India's digital and industrial base, and provide long-term tax certainty to global businesses
EV Industry Perspective
Domestic Manufacturing Advocates
Customs Duty Exemptions
EV Industry Perspective
The exemption of customs duty on lithium-ion batteries and sodium antimonate is crucial for the EV industry, as it will reduce costs and make electric vehicles more affordable.
Domestic Manufacturing Advocates
While the exemptions are beneficial, they may discourage domestic production of lithium-ion batteries, leading to increased reliance on imports.
- Budget Year
- 2026-27
- Cancer Drugs Exempted
- 17
- Rare Diseases Added
- 7
- Duty Removed
- Basic customs duty
- Announced By
- Finance Minister Nirmala Sitharaman
- Focus Areas
- Cancer treatment, rare diseases, EVs, youth skilling, MSMEs
- Expected Benefit
- Lower drug prices, improved access, EV affordability, job creation
- Target Population
- Cancer patients, rare disease patients, EV consumers, youth, MSMEs
- PLI for Automobile Industry
- Increased from Rs 2,818 crore to Rs 5,939 crore
- National Institute of Hospitality
- Upgraded from National Council for Hotel Management and Catering Technology
- Allied Health Professional Institutes
- 10 key disciplines to be set up and upgraded
- Geriatric Caregivers Training
- 1.5 lakh caregivers to be trained
- AVGC Content Creator Labs
- 15,000 secondary schools and 500 colleges
- MSME Growth Fund
- Rs 10,000 crore
- Self Reliant India Fund for Micro Sector
- Rs 2,000 crore
- Capital Expenditure Outlay
- Rs 12.2 lakh crore
- High-Speed Rail Corridors
- 7 proposed corridors
- Biopharma Shakti Initiative
- Rs 10,000 crore
- Regional Medical Hubs
- 5 to be established
- Girls' Hostels
- 1 in every district
- National Institute of Design
- New institute in the eastern region
- University Townships
- 5 to be created
- Telescope Infrastructure Facilities
- 4 to be set up or upgraded
- Tax Holiday for Cloud Service Providers
- Until 2047
- Safe Harbour Threshold for IT Services
- Raised to Rs 2,000 crore
- Fiscal Deficit
- 4.4% of GDP
- GDP Growth Projection for FY26
- 7.4%
- GDP Growth Projection for FY27
- 6.8–7.2%
Sources
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