Budget 2024 Highlights: Finance Minister Nirmala Sitharaman has presented her 7th budget, from which the common man has a lot of expectations. In this budget, the Finance Minister has made many big announcements.
However, the biggest focus was on what has become cheaper and what has become expensive this time. In the big announcements, the Finance Minister announced that mobile phones will become cheaper. Also, the prices of cancer medicines will come down.
It has been announced to make lithium-ion batteries cheaper, which means that electric vehicles can also become cheaper. Apart from this, it has also been announced to make imported jewellery cheaper.
Custom duty exemption on three more drugs for cancer treatment.
Reduced customs duty on mobile phones, related parts, and chargers.
Duty exemption on X-ray tubes.
Duty was eliminated on 25 essential minerals.
Reduced duty on fish feed.
Domestically produced leather, textiles, and shoes will become cheaper.
6% reduced duty on gold and silver.
6.4% reduced duty on platinum.
Increased import duty on plastic goods.
Increased customs duty on petrochemicals – ammonium nitrate.
PVC imports will see a duty hike from 10% to 25%.
Air travel has become more expensive.
Cigarettes has also become more expensive.
Union Finance Minister Nirmala Sitharaman presented a budget focused on employment, skill development, agriculture and manufacturing, laying out a roadmap for a 'developed India' by 2047.
The first budget under Modi 3.0 outlines an economic vision framed with fiscal prudence. This is the 13th consecutive budget of the Modi government since 2014, including two interim budgets.