2024 Union Budget Overview: What's Cheaper and What Costs More
Tuesday, 23 July 2024, 03:24
2024 Union Budget: Overview of Changes
Key Changes in Customs Duties
The Union Finance Minister Nirmala Sitharaman has released the Union Budget for 2024, introducing various adjustments that affect pricing on multiple goods.
- Customs duties on precious metals like gold, silver, and platinum have been reduced to 6%.
- The duties on telecom equipment have increased from 10% to 15%.
- Customs duties on plastic products have also seen a hike.
- Notably, mobile devices, chargers, and accessories now have a lowered duty of 15%.
Conclusion
These decisions indicate the government's recalibration of trade policies aimed at balancing consumer interests and fiscal responsibility.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.