Budget 2024: Finance Minister Nirmala Sitharaman presented the Union Budget 2024-25 and announced several measures which will make various items cheaper. The Minister, in her speech, announced various steps the government will take that will help citizens save more on items of daily use.
What's cheaper in the Budget?
- X-ray machines
- Cancer medicines
- Mobile phones
- Mobile chargers
- Mobile phone parts
- Solar panels
- Solar cells
- Electric vehicles
- Leather shoes, sandals, and wallets
- Gold and silver
- Items made of platinum
- Imported jewelry
- Seafood
What's costlier in the Budget?
- Amonium Nitrate
- Plastic Products
- Telecom Equipment
What did Sitharaman say in her Budget speech?
She said India's economic growth continues to be the shining exception and will remain so in the years ahead.
"India's inflation continues to be low, stable and moving towards the 4 per cent target. Core inflation (non-food, non-fuel) currently is 3.1 per cent. Steps are being taken to ensure supplies of perishable goods reach market adequately," she said.
Sitharaman proposed to reduce customs duties on gold and silver to six per cent and on platinum to 6.4 per cent to enhance value addition in precious metal jewellery.
"To enhance domestic value addition in gold and precious metal jewellery in the country, I propose to reduce customs duties on gold and silver to 6 per cent and that on platinum to 6.4 per cent," Sitharaman said while presenting Union Budget 2024-25 in the Lok Sabha.
Referring to other metals, she said steel and copper are important raw materials.
"To reduce their cost of production, I propose to remove the BCD (Basic Customs Duty) on ferro nickel and blister copper. I am also continuing with nil BCD on ferrous scrap and nickel cathode and concessional BCD of 2.5 per cent on copper scrap," she said.
