Key Highlights from FM Sitharaman's 2024 Technology Budget Announcement

Tuesday, 23 July 2024, 10:52
In her 2024 budget speech, FM Sitharaman revealed a notable reduction in basic customs duty for mobile phones and chargers, now set at 15%. This decision is expected to further enhance domestic production and exports within the mobile phone sector. The move aims to bolster the technology landscape, making mobile devices more accessible to consumers. Overall, these changes signify a positive trend towards a thriving mobile phone industry in India.
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Key Highlights from FM Sitharaman's 2024 Technology Budget Announcement

Reduction in Customs Duty for Mobile Phones

FM Sitharaman's latest budget announcement highlighted a 15% customs duty for mobile devices and their components, marking a significant reduction from previous rates.

Impact on Domestic Production and Exports

This adjustment is expected to lead to increased domestic manufacturing and a boost in the export potential of mobile phones, a key area for the Indian economy.

Conclusion

The 2024 budget initiatives reflect a commitment to enhancing the mobile phone industry and supporting consumers through lower device costs.

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.

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