Budget 2024: Mobile phones, accessories to become cheaper as Sitharaman announces 15% duty cut

Finance Minister Nirmala Sitharaman has reduced the basic customs duty on mobile phones and accessories to 15 percent from the previous 20 percent. Presenting the first budget of the Modi 3.0 government, she also announced exemptions on duties for critical minerals such as lithium, copper, cobalt, and rare-earth minerals. Additionally, the government proposed removing basic customs duties on oxygen-free copper for manufacturing resistors and exempting certain parts of connectors.

These announcements are expected to reduce the prices of mobile phones and accessories, including imported ones.