India’s healthcare sector is set to become more affordable following the implementation of revised GST rates. Under the new structure, most medicines previously taxed at 12% are now taxed at 5% , while 36 essential life-saving drugs, covering cancer, rare and genetic disorders, and cardiovascular conditions, have been fully exempted. The GST Council has also adjusted tax slabs on health and life i nsurance premiums , glucometers , and corrective spectacles.
These reforms are expected to reduce the financial burden on patients, improve access to essential treatments, and strengthen overall healthcare security. Industry bodies, including the Indian Pharmaceutical Alliance and the Organization of Pharmaceutical Producers of India, emphasized that the changes mark a transformative step in making healthcare more accessible and equitable. They highlighted that lowering costs will not only…
