Union Budget 2024: Finance Minister Nirmala Sitharaman has announced in the budget that mobile phones and chargers will become cheaper. Today in the budget, the Finance Minister has made big relief announcements regarding things that are useful for the common people.
Gold, silver and platinum will become cheaper: Custom duty on gold and silver has been reduced to 6 percent, which will make them cheaper. Custom duty on platinum has also been reduced, after which it is also going to become cheaper. Finance Minister Nirmala Sitharaman has proposed to reduce the custom duty on gold and silver to 6 percent in the budget speech. Apart from this, she also informed about reducing the custom duty on platinum to 6.4 percent. After the implementation of this decision of the government, the prices of gold, silver and platinum will come down.
Finance Minister Nirmala Sitharaman announced that the basic customs duty on mobile phones and chargers has been reduced by 15 percent. This will reduce the price of mobile phones.
Finance Minister Nirmala Sitharaman also talked about solar panels and lithium batteries becoming cheaper, which will reduce the prices of phone and vehicle batteries. Apart from this, the rate of Tax Deducted at Source (TDS) for e-commerce companies has been reduced from 1 percent to 0.1 percent. It has been made almost zero.
The Finance Minister announced that three medicines used for the treatment of cancer will be exempted from basic customs duty. Basic customs duty will also be changed on X-ray tubes and flat panel detectors used in X-ray machines. Their prices will also come down after the announcement comes into effect. Apart from this, the government has also removed the basic customs duty on ferronickel, blister copper.
The Finance Minister has announced increase in customs duty on ammonium nitrate from 10% to 25%.
The basic customs duty on specified telecom equipment has also been increased from 10% to 15%.
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