For the best experience, open
https://m.greaterkashmir.com
on your mobile browser.

Union Budget 2024: What becomes cheaper and what’s costlier?

Other products that are set to become cheaper include mobile phones, imported gold, silver, leather goods and seafood.
01:19 PM Jul 23, 2024 IST | IANS
union budget 2024  what becomes cheaper and what’s costlier
File (ANI Photo/Sansad TV)
Advertisement

New Delhi, July 23: 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.

Advertisement
   

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

Advertisement

“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.

Advertisement

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

Advertisement

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

Advertisement

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.

Advertisement

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

Advertisement

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 Rs 15,000 to Rs 25,000/-

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

Advertisement
×