2024:Union Budget Highlights

Budget Highlights

Finance Minister Nirmala Sitharaman today presented the full budget for the financial year 2024-25. Many announcements were made in the budget. As is expected from the budget, many things became cheaper and some things also became expensive. Here we are telling you about all those things which have become cheaper or expensive.

Has the price been reduced?

The duty on mobile phones has been reduced to 15 percent.

• The duty on phone chargers has also been maintained.
• The duty on printed circuit board assembly used in the manufacture of mobile phones has been reduced from 20 to 15 percent.
• The duty on some products for making connectors has been reduced from 7.5 percent to zero.
• The duty on oxygen free copper used in the manufacturing of registers has been reduced from 5 to 0 percent.
  medical 
• Duty on all types of polyethylene has been reduced to allow use in the manufacture of orthopedic implants.
• Duty on all special grade stainless steel, titanium alloys, cobalt-chrome alloys, and all types of polyethylene used in the manufacture of other artificial body parts has been reduced.
• Duty on X-ray tubes and flat panel detectors used in the manufacture of medical, surgical, dental and veterinary X-ray machines has been reduced from 15% to 5% till March 31, 2025. Duty will be 7.5% from April 1, 2025 to March 31, 2026 and 10% after April 1, 2026.

Agriculture

• Duty on shea nuts reduced from 15 per cent to 30 per cent.
• Prawn and shrimp meal reduced from 15 per cent to 5 per cent.
• Duty on fish fillets also reduced from 15 per cent to 5 per cent.
• Duty on several products used in preparing them for meal has been abolished.
• Duty on polychaete worms SPF reduced from 30 per cent to 5 per cent.
• Insect meal reduced to 5 per cent duty.
• Single cell protein derived from natural gas taxed at 5 per cent.

for Cancer Treatment

The price of trastuzumab, deruxtecan, osimertinib, and durvalumab has been reduced and made inactive.

Precious Metals

• Duty on gold bars reduced from 15% to 6%.
• Gold dore: Duty reduced from 14.35% to 5.35%.
• Duty on silver bars reduced from 15% to 6%.
• Duty on silver dore reduced from 14.35% to 5.35%.
• Duty on platinum, palladium, osmium, ruthenium, iridium reduced from 15.4% to 6.4%.
• Duty on precious metal coins reduced from 15% to 6%.
• Duty on gold and silver extracted has been reduced from 15% to 6%.
• Platinum and palladium used in the manufacture of noble metal solutions, noble metal compounds and catalytic converters: Duty reduced from 7.5% to 5%.