Impact of Budget 2024 on Mobile Phone Pricing

Tuesday, 23 July 2024, 09:39

In Budget 2024, Union Finance Minister Nirmala Sitharaman announced a significant reduction in the basic custom duty on mobile phones, printed circuit board assemblies (PCBA), and chargers, lowering it to 15%. This change is expected to influence smartphone pricing positively, making mobile phones more affordable for consumers. The measure aims to boost the mobile industry amid growing demand for technology products.
Thehindu
Impact of Budget 2024 on Mobile Phone Pricing

Overview of Budget 2024

In her recent announcement, Union Finance Minister Nirmala Sitharaman revealed a reduction in the basic custom duty on mobile phones.

Details of the Announcement

  • The basic custom duty on mobile phones is now set at 15%.
  • This includes duties for PCBA and chargers.
  • Consumers can expect more competitive smartphone pricing as a result.

Conclusion

The reduction in custom duties is a significant move to enhance the affordability of mobile devices in India, potentially stimulating growth in the mobile phone market.


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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