Finance Minister Nirmala Sitharaman unveiled her seventh Union Budget 2024 for the fiscal year 2024-2025 during a presentation on Tuesday. Following the budget announcement for 2024, mobile phones and chargers are set to become more affordable with a 15% reduction in custom duties. Budget 2024: Things that get cheaper. Following the announcement of Budget 2024, there is an anticipation of price reductions for various products. Mobile phones, chargers, and accessories will now have a decreased customs duty of 15%. Gold and silver will be subjected to a 6% duty, while platinum will have a duty of 6.4%. Additionally, three cancer treatment medications will be exempt from basic customs duties. Moreover, the government has eliminated basic customs duties on ferro nickel and blister copper. The Finance Minister has proposed an extension of the list of capital goods exempt from customs duties for solar panel manufacturing. Customs duties on 25 esseniial minerals have been entirely removed. Duties on shrimp and fish feed have been lowered to 5%.
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