India News | Imported Life Saving Drugs, Medicines to Become Cheaper; Knitted Fabrics, Smart Meter Costlier

New Delhi, Feb 1 (PTI) Imported life saving drugs and medicines used in the treatment of cancer, rare and other severe chronic diseases, along with imported motorcycles, are set to become cheaper with Finance Minister Nirmala Sitharaman announcing cuts in customs duty in the Union Budget 2025-26.

However, certain items like interactive flat panel (touch screen) displays imported as fully built units and certain knitted fabrics will become costlier due to increase in basic customs duties.

Also Read | Budget 2025: 1 Crore More People To Pay Zero Income Tax Under Budget 2025-26, Says Finance Minister Nirmala Sitharaman.

The following is a list of items set to become cheaper and costlier.

Cheaper:

Also Read | Union Budget 2025-26: From Customised Credit Cards With INR 5 Lakh Limit for Micro-Enterprises to 2.5 Times Hiked Investment Limits, Check Key Measures That Will Bolster 1 Crore MSMEs.

*Imported motorcycles as completely built (CBU) unit with engine capacity not exceeding 1600cc

*Motorcycles with engine capacity not exceeding 1600cc imported in semi-knocked down (SKD) form

*Motorcycles with engine capacity not exceeding 1600cc imported in completely knocked down form

*Imported motorcycles with engine capacity of 1600cc and above in CBU form

*Motorcycles with engine capacity of 1600cc and above in SKD form

*Motorcycles with engine capacity of 1600cc and above in CKD form Imported vehicles for transport of 10 or more persons

*Synthetic flavouring essences and mixtures, used in food and drink industries

*Articles of Jewellery, goldsmiths' and silversmiths' ware

*Ethernet switches Carrier grade

Costlier

*Certain imported knitted fabrics

* Interactive Flat Panel Displays which are imported as completely built units.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)