Budget 2024: Microsoft, Salesforce, Deloitte, and others hail move to boost technology sector

Union Finance Minister Nirmala Sitharaman on Tuesday, July 23, presented the Union Budget 2024-25 with a focus on employment, skilling, MSMEs, and empowering the middle class. The technology sector also found mentions in the Budget with provisions favouring the growth and sustainability of start-ups. One of the most significant announcements for the tech sector has been the reduction of customs duty on mobile phones and related accessories. Basic customs duty or BCD has been reduced to 15 per cent for mobile phones, printed circuit board assemblies, and mobile chargers.