2024-01-31 07:10:49
Interim Budget 2024-25: Finance Minister Nirmala Sitharaman will present the budget on February 1, 2024. As the general elections are going to be held this year, this budget will be an interim budget. The full budget will be presented in July after the new government is formed after the elections. As it is an interim budget, no major announcements are expected. However, sources also say that the government may make some important announcements to attract the voters. Accordingly, while the budget will be tabled in Parliament tomorrow (February 1), the Indian government has recently announced that it has reduced the import duty on mobile phones from 15 percent to 10 percent. So that people can get cheap phones.
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The Ministry of Finance has also issued a notification:
The Ministry of Finance of the Union Government has also issued a notification in this regard. Under Section 25 of the Customs Act, 1962, the government has taken this decision in view of public interest, the notification informed. In it, it is written that the import duty of many mobile components has been reduced to 10 percent, and in it, the names of many types of mobile components have been mentioned and the import duty has been reduced.
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Duty is reduced on these parts or inputs:
Under this decision, duty has been reduced on several components or inputs used in the manufacture of mobile phones. Under the first section, find out the names of those 12 items on which import duty has been reduced.
Battery cover
Front cover
Middle cover
Men lens
Back cover
GSM antenna / antenna of any technology
PU case or sealing gasket
Sealing gaskets or parts made of polymers such as PP, PE, EPS and EC
SIM socket
Screw
OTHER MACHINERY PRODUCTS MADE OF PLASTIC
Other mechanical products of metal
Apart from this, import duty has also been reduced for some other areas:
Conductive Cloth
LCD Conductive Photo
LCD foam
Beady foam
Heat Dissipation Sticker Battery Cover
Sticker-battery slot
So due to cheap import of mobile components, cheap mobile phones will be manufactured in the country.
In this case, it is worth noting that the government has reduced the import duty a day before the presentation of the budget, while it was already expected that the prices of the products will decrease before the budget.
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