Union Finance Minister Nirmala Sitharaman on Tuesday announced a slew of cuts on the customs duties levied on various items including gold, silver, and platinum while presenting the 2024 Union Budget.

What's cheaper in the Budget?

X-ray machines, Cancer medicines, Mobile phones, Mobile chargers, Mobile phone parts, Solar panels, Solar cells, Electric vehicles, Leather shoes, sandals, and wallets, Gold and silver,  Items made of platinum, Imported jewelry, Seafood. 

Customs duty on mobiles, chargers, and accessories has been reduced to 15%. The duty on gold and silver is now 6%, while platinum is set at 6.4%. Additionally, three cancer treatment medicines are exempt from basic customs duty.

The government has also removed basic customs duties on ferro nickel and blister copper.

What's costlier in the Budget?

Amonium Nitrate, Plastic Products, Telecom Equipment

The government plans to increase customs duties, raising the rate on ammonium nitrate by 10% and on non-biodegradable plastics by 25%.

Additionally, telecom products will become more expensive due to a rise in the basic customs duty from 10% to 15% on certain telecom equipment.

Plastic products will also see a price increase following a hike in customs duty on these items.