India, Feb. 1 -- Union finance minister Nirmala Sitharaman, who is presenting her eighth consecutive budget in the Parliament, announced that 36 life-saving drugs would be exempted from basic customs duty.

These drugs include essential medicines used to treat cancer and other rare diseases, the finance minister said.

Apart from the crucial drugs, the finance minister announced the continuation of customs duty exemption on inputs and components used for manufacturing of ships for another 10 years.

The announcement marks significant development as India is looking to promote domestic shipbuilding to boost international trade.

Presenting the Budget for 2025-26, she also announced the doubling of basic customs duty on interactive flat pan...