Finance Minister Nirmala Sitharaman on July 23, 2024 proposed discount in primary customs obligation on gold and silver. File picture.
| Photograph Credit score: Reuters
Union Finance Minister Nirmala Sitharaman on July 23 proposed a slew of cuts on the customs duties levied on varied objects, whereas presenting the 2024 Union Budget.
“For customs, we diminished the variety of customs obligation charges in 2022-23. I suggest to rationalise them after a overview over subsequent six months,” she stated within the Lok Sabha in the present day.
Additionally Learn: Budget 2024 Live updates
“My proposals for customs duties intend to assist home manufacturing, deepen native worth addition, promote export competitiveness, and simplify taxation, whereas conserving the curiosity of most of the people and customers surmount”
Right here’s a take a look at an inventory of what’s going to get costlier and cheaper in Monetary 12 months 2025:
What’s cheaper
- Most cancers medicine
- Medical X-ray machines
- Cell phones, chargers
- Gear utilizing photo voltaic cells, panels
- Fish and shrimp feed
- Leather-based items
- Footwear
- Textiles
- Gold, silver, platinum making fees
What’s costlier
- Ammonium nitrate
- PVC flex banners
- Imported telecom gear
Finance Minister Nirmala Sitharaman in the present day offered the Union Finances 2024 in Parliament, marking her seventh consecutive funds. She listed out the next 9 priorities for the FY 2024-25 Union Finances: productiveness and resilience in agriculture, employment and skilling, inclusive human useful resource improvement and social justice, manufacturing and providers, city improvement, power safety, infrastructure, innovation analysis improvement, and subsequent era reforms
