Budget 2012: MSME a fertile ground for production of low-cost medical devices, says FM

NEW DELHI: The Finance Minister Pranab Mukherjeee in his Union Budget 2012 speech acknowledged that the country's MSME sector is fertile ground for the production of low-cost medical devices. In order to provide impetus to this sector, he proposes to reduce basic customs duty to 2.5 per cent with concessional CVD of 6 per cent on specified parts, components and raw materials for the manufacture of some disposables and instruments.


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Full exemption from basic customs duty and CVD is also being extended to specified raw materials for the manufacture of coronary stents and heart valves. These concessions would be subject to actual user condition.