Life saving drugs to be cheaper

Presenting the Budget for 2006-07, Finance Minister P Chidambaram proposed to reduce customs duty on 10 anti-AIDS and 14 anti-cancer drugs to five per cent.

He also proposed to reduce the duty on certain life-saving drugs, kits and equipment from 15 per cent to five per cent.

These drugs will also be exempt from excise duty and countervailing duty, the minister said.