Budget 2023: EVs, mobile phones - What all will become cheaper as govt reduces customs duty

Budget 2023: Union Finance Minister Nirmala Sitharaman on Wednesday presented her 5th and last full budget of the Modi government in its present term. The government announced a reduction in customs duty on several products and services which will further reduce the prices of several electronic goods. "I propose to reduce the number of basic custom duty rates on goods other than textiles and agriculture, from 21 to 13 per cent. As a result, there are minor changes in the basic customs duties, cesses, and surcharges on some items including toys, bicycles, and automobiles," the Finance Minister said. FULL COVERAGE

Here's what gets cheaper:

• Lithium-ion batteries
• Camera lenses for phones, laptops, and DSLRs
• Electric kitchen chimney
• Parts of TV panels
• Denatured ethyl alcohol
• Acid-grade fluorspar
• Domestic manufacture of shrimp
• Seeds used in the manufacture of diamonds

ALSO READ | Budget 2023: Govt increases income tax rebate to Rs 7 lakh per annum | 5 major announcements

ALSO READ | Budget 2023: 'PM Awas Yojana' allocation raised by 66% to provide houses to poor | All you need to know

Latest Business News