Budget 2023: Gift of cheap goods in the budget! Prices of mobiles, TVs, cameras and electronic vehicles will be reduced Pipa News

Government reduced custom duty on electronics in Budget 2023: The central government has reduced the customs duty on electrical goods like mobiles and TVs. With this decision of the government, mobile phones, camera lenses and electric vehicles will become cheaper.

In the budget speech, Finance Minister Nirmala Sitharaman said that mobile phones will be made cheaper in the country. Concession in import duty will be given on their components. On the other hand if you are thinking of buying a TV then there is good news as LED TVs have been announced to be cheaper. The import duty on the lithium ion battery used in electric vehicles will be reduced, which means that now electric vehicles will also be cheaper in the country. Apart from this, the Finance Minister also announced a reduction in the prices of bicycles in the country, which means that the bicycles will be cheaper.

The government said the indirect tax proposals are aimed at promoting exports, boosting domestic manufacturing, increasing domestic value growth, promoting green energy and mobility. Basic customs duty rates on textiles and non-agricultural goods are proposed to be reduced from 21 to 13.

Published by:Krishan Sharma

First published: February 01, 2023, 13:46 IST