Budget 2024 modi govt reduced custom duty on mobile phones pcba and charger

Budget 2024-2025: The first budget of the third term of the Modi government has given a big relief to smartphone users. The government has announced a cut in custom duty on mobile phones, mobile PCBA and mobile chargers. This announcement will benefit the common people. The prices of mobile phones will come down. The price of mobile chargers will also come down. Presenting the budget, Finance Minister Nirmala Sitharaman said that the custom duty on mobile phones, mobile PCBA and mobile chargers is being reduced from 20% to 15% i.e. a cut of 5% has been made.

The Finance Minister said that the mobile phone industry has now matured. In the last 6 years, the domestic production of mobile phones has increased three times and exports have increased 100 times.

What is BCD, which has been increased to 15%

During the budget speech, Nirmala Sitharaman said that the Indian mobile industry has matured with a three-fold increase in domestic production and an almost 100-fold jump in mobile phone exports in the last six years. I now propose to reduce the BCD (basic customs duty) on mobile phones, mobile PCBA and mobile chargers to 15%.

BCD or Basic Custom Duty is paid when mobile phone companies or manufacturers import parts related to devices from other countries. They have to pay custom duty on it. By reducing it, companies will have to pay less money, which will reduce the cost of manufacturing a product. It is expected that the customers will benefit directly.

What is special is that in January this year, the central government had also reduced the import duty on many parts used in making mobile phones and reduced it from 15% to 10%. This reduced the cost of battery cover, back cover, antenna, SIM socket etc.