Finance Minister Nirmala Sitharaman, in her eighth budget, announced major relief on electronic products, making mobile phones and TVs more affordable. The government has also pledged to expand broadband connectivity to all government schools.
Key Announcements:
- Mobile Phones to Become Cheaper: 2.5% custom duty removed on mobile parts, including camera modules, connectors, wired headset raw materials, microphones, receivers, USB cables, fingerprint readers, and sensors.
- TV Prices to Drop: Duty on LCD and LED TV components removed, while interactive flat panel displays will now attract 20% duty.
- Boost for Electric Vehicles: Basic customs duty (BCD) removed on cobalt powder, lithium-ion battery scrap, lead, zinc, and 12 other critical minerals, reducing EV costs.
These measures will encourage local manufacturing under the ‘Make in India’ initiative and enhance domestic electronics and battery production.
