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Mobile, gold cheaper; Plastic costlier after Budget 2024 | Check full list here

  • Customs duties on mobiles, chargers, and cancer meds reduced
  • Gold, silver, and platinum duties lowered; critical minerals exempted
  • Telecom products and non-biodegradable plastics to get costlier

23 Jul 2024

Mobile, gold cheaper; Plastic costlier after Budget 2024 | Check full list here

Finance Minister Nirmala Sitharaman presented her seventh Union Budget for the fiscal year 2024-2025 on Tuesday. This was also the first full budget of the Modi 3.0 government. Here we bring you a detailed list of what gets costlier and what gets cheaper.

 Which items have become cheaper? 

  • Customs duty on mobiles, chargers, and accessories has been reduced to 15%
  • The duty on gold and silver is now 6%, while platinum is set at 6.4%
  • Three cancer treatment medicines are exempt from basic customs duty
  • The government has also removed basic customs duties on ferro nickel and blister copper
  • The Finance Minister has proposed expanding the list of exempted capital goods for solar panel manufacturing
  • Customs duties on 25 critical minerals have been fully removed
  • Duties on shrimp and fish feed have been lowered to 5%

 What will get costlier? 

  • The government plans to increase customs duties, raising the rate on ammonium nitrate by 10% and on non-biodegradable plastics by 25%
  • Telecom products will become more expensive due to a rise in the basic customs duty from 10% to 15% on certain telecom equipment
Tags:
Union Budget
Nirmala Sitharaman
Modi 3.0
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The first budget of 'Modi 3.0' is expected to have a significant impact on India's economic landscape





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