Budget 2021: Finance Minister Nirmala Sitharaman has presented the budget for the financial year 2021-22. This is the third budget of the second term of the Modi government. This budget has become very important due to Corona epidemic and subsequent economic crisis. Buying a mobile phone after the budget will also become expensive. Finance Minister Nirmala Sitharaman on Monday announced to increase the custom duty on mobile phone equipment and chargers to 2.5 percent in the budget.
The Finance Minister announced a review of 400 exemptions in custom duty, including discounts on the mobile device segment. Sitharaman said in his budget speech that he is withdrawing some discounts on some parts of charger and all parts of mobile.
Motive to encourage domestic manufacturing
He said that after this the price of some mobile parts will now be increased from zero to middle 2.5 percent. He further said that the policy of custom duty should have two goals. These include encouraging domestic manufacturing and bringing India into the global value chain and improving exports. Sitharaman said that now the emphasis is on easy access to raw materials and export of value addition.
