The union finance minister Pranab Mukherjee, while presenting the union budget for 2012-13, has proposed extending concessional basic customs duty of 5 per cent with full exemption from excise duty/ CVD for six specified life-saving drugs/ vaccines in this year's budget.

He proposed to reduce basic customs duty on soya protein concentrate and isolated soya protein to 10 per cent from the present 30 per cent or 15 per cent respectively.

Additionally he proposed reduction in basic customs duty and excise duty on iodine from 6 per cent to 2.5 per cent.

On probiotics, the basic customs duty now stands at 5 per cent down from 10 per cent.