July 23, 2024
1 min read

BUDGET 2024: What Becomes Cheaper And What’s Costlier?

The Finance Minister announced a reduction of customs duty on mobile phones and mobile chargers to 15 per cent in Union Budget, reports Asian Lite News

With Finance Minister Nirmala Sitharaman announcing a major reduction in customs duty on cancer drugs and mobile phones, it is set to considerably bring down their prices in the market. The three cancer drugs are Trastuzumab deruxtecan, Osimertinib and Durvalumab.

The Finance Minister also announced a reduction of customs duty on mobile phones and mobile chargers to 15 per cent.

“The government will exempt three cancer treatment drugs from customs duty. I will also reduce basic customs duty on mobile phones, chargers and other mobile parts,” FM Sitharaman said presenting the Budget 2024.

Other products that are set to become cheaper include mobile phones, imported gold, silver, leather goods and seafood.

The reduction in duties on gold and silver by 6 per cent will significantly give a fillip to the retail demand.

FM Sitharaman also proposed a reduction in customs duties on platinum by 6.5 per cent and 5 per cent cut on seafood which includes shrimps and fish feed.

For the salaried class, the Finance Minister announced tax sops for over 4 crore salaried individuals.

Those under the new tax regime, have been given relaxation in the standard deduction limit from Rs 50,000 to Rs 75,000 while the deduction on family pension for pensioners has been enhanced from Rs 15,000 to Rs 25,000.

This will provide relief to about four crore salaried individuals and pensioners, the Finance Minister said.

ALSO READ: BUDGET 2024: Relief For Salaried Class On Tax Slabs

Previous Story

BUDGET 2024: Relief For Salaried Class On Tax Slabs

Next Story

Duty-Free Cancer Drugs: Health Experts Hail Move

Latest from -Top News

Macron Eyes UK Shift on Palestine

While both France and the UK agree in principle on recognising a Palestinian state, there are significant differences over the timing and political conditions…reports Asian Lite News French President Emmanuel Macron is

‘Global firms profiting from Gaza genocide’

Report by Francesca Albanese singles out companies such as Palantir and calls for prosecutions…reports Asian Lite News The UN special rapporteur on human rights in the occupied Palestinian territories has called for

Mamdani: South Asian Pride or Parental Pressure?

For millions, Mamdani’s rise symbolizes both unprecedented representation and a new benchmark for parental expectations. The question now echoing across continents is whether this is a moment of collective pride or another

Texas floods leave at least 51 dead

The flooding in Kerr County killed at least 43 people, including 15 children, and at least eight people died in nearby counties…reports Asian Lite News Rescuers scoured a devastated central Texas landscape
Go toTop

Don't Miss

Burgeoning India-Africa Ties: A Resounding Affirmation

India’s partnership with Africa, deeply rooted in history, is now

Modi speaks to Vijayan on flood situation

The Prime Minister expressed condolences to the families of the