Finance Minister Nirmala Sitharman announced a reduction of Basic Customs Duty on mobile phones, mobile chargers to 15 per cent, suggesting that these items may become cheaper.
Gold, platinum, and silver may become cheaper as the customs duty on gold and silver has been reduced to 6 per cent and that of platinum to 6.4 per cent.
Three cancer treatment medicines have been exempted from Basic Customs Duty.
"The government will exempt three more cancer treatment drugs from Customs duty. I will also reduce basic customs duty on mobile phones, chargers and other mobile parts," the finance minister said.
Sitharaman has also made a proposal to increase the list of exempted capital goods used in the manufacturing of solar panels.
Basic Customs Duty on ferronickel, and blister copper too have been removed
Items that are likely to become costlier
The finance minister also proposed a rise in customs duty on ammonium nitrate to 10 per cent.
The customs duty on non-biodegradable plastics has been increased by 25 per cent.
Besides, the basic customs duty on a specified telecom equipment has been increased to 15 per cent from 10 per cent.
