Union Finance Minister Nirmala Sitharaman presented the budget in Parliament. This is the second full budget after the NDA government came to power for the third consecutive term. With this, Nirmala Sitharaman became the first woman finance minister in the country to present the budget for the ninth consecutive term.

Union Finance Minister Nirmala Sitharaman announced several tax exemptions in the budget. 17 anti-cancer drugs are being exempted from basic duty, which will make them more affordable and accessible. Seven more rare disease drugs will be exempted from basic duty.

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Presenting the ninth budget, Finance Minister Nirmala Sitharaman made major changes in duty that will affect both consumers and industry across India. Taxes will be waived on 17 cancer drugs and seven rare disease drugs, making them cheaper.

To rationalise the customs duty structure for goods imported for personal use, Union Finance Minister Smt. @nsitharaman proposed to reduction in tariff rate, exemption in basic customs duty and import duties to promote Ease of Living.#ViksitBharatBudget pic.twitter.com/hvDoetjsjJ

— Ministry of Finance (@FinMinIndia) February 1, 2026

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In the AYUSH sector, three new All India Institutes of Ayurveda will be established, AYUSH pharmacies will be upgraded and the government will support states in setting up five medical tourism hubs.

In the biopharma sector, the budget has allocated Rs 10,000 crore for the ‘Shakti’ scheme to increase domestic production of biological and bio-similar products over the next five years.