New Delhi, 01 February: Union Finance Minister Nirmala Sitharaman has made some goods cheaper for the common people while keeping the union Budget for the financial year 2023-24 on the table of Parliament. Presenting the Amrit Kaal budget in the Lok Sabha, Sitharaman said on Wednesday that the Indian economy is on the right track, moving towards a bright future.
Nirmala Sitharaman said that the government has tried to take care of each and every section. The Finance Minister has increased the incidental duty on cigarettes to 16 per cent.
In the budget, the eyes of the common people remain on what has become strict and which is expensive. Every year, there is a change in tax and import duty on some things in the budget. It affects many things. In this process, many things have become cheap, while many things have become expensive.
Custom duty relief has been given on some mobile parts. Electric cars will also be cheaper. Custom duty on the import of lithium-ion batteries has been exempted in the budget. TV will be cheaper, import duty will be less. Electrical goods will also be cheaper. Customs duty on open sale components of television has been reduced to 2.5 per cent.
Custom duty has been exempted on lab-created diamond seeds. The duty on rubber has also been reduced. This will make toys, cycles, automobiles cheaper.
Custom duty on silver has been increased, due to which silver will be costlier. Incidental duty on cigarettes has been increased to 16 per cent, which will make cigarettes costlier. Chimneys, some mobile phones and camera lenses, gold, silver and platinum will be costlier.