Budget Boosts Healthcare: Cancer, Diabetes Drugs to Get Cheaper, Rs 10,000 Cr for Biopharma

New Delhi: Cancer and diabetes medicines will be cheaper in the Union Budget 2026-27. Finance Minister Nirmala Sitharaman made this big announcement during the budget speech in the Lok Sabha. She said that medicines for these diseases will be available at affordable rates. A fund of Rs 10 thousand crore has been given to strengthen the biopharma sector.

This scheme will run under the name of 'Biopharma Shakti.' Three dedicated chemical parks will also be created. Diabetes, cancer, and autoimmune diseases are increasing rapidly in the country. Biologic drugs are important in treating them. The central government is emphasizing making India a biopharma hub.

What are the health-related announcements in the budget?

Cancer and diabetes medicines will be cheaper. Rs 10 thousand crores have been kept for Biopharma Shakti Yojana. The biopharma sector will be promoted in the next 10 years. Under this, three chemical parks will be established. A better environment will be created for the poor, SC/ST, and farmers. 

Why is this decision important?

Non-communicable diseases are increasing in the country. The number of diabetes and cancer patients has increased rapidly. The high cost of medicines becomes a hindrance in treatment. Affordable medicines will provide relief to millions of patients. Biological medicines will give longer life and better life.

What will Biopharma Shakti Yojana do?

The central government will make India a global biopharma hub. Research and production will be promoted in country. Focus will be on availability and affordable prices of medicines. There will also be emphasis on diseases like autoimmune disorders. This will promote exports and self-reliance.

What is the reaction from industry and experts?

The biopharma industry and experts are considering this as a positive step. Patients will benefit from reduced prices of medicines. Investment will increase in the biopharma sector. Research and innovation will get support. Some reports had expressed hope for customs duty reduction.

What effect will this have?

The financial burden on patients will be reduced. Access to treatment will become easier. Health services will be strengthened. Contribution to economic development will increase. A strong message will be sent amid global uncertainty.