(a) whether the Government has decided to cut excise duty on drugs;
(b) if so, the details thereof;
(c) the present rate of duty on drugs, item-wise, levied by the Government and the proposed and the proposed reduction of duty; and
(d) the likely impact on the pharmaceutical companies as a result of the cut in excise duty on drugs?
MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI S.S.PALANIMANICKAM)
(a),(b)&(c): At present, medicines attract excise duty @ of
16% advalorem. Specified Life saving drugs, however, are
exempt from levy of excise duty. In view of the ensuing
budget, no comment is offered on change in duty rates.
(d): does not arise in view of the reply above.