New Delhi: Union Finance and Corporate Affairs Minister Nirmala Sitharaman, Minister of State Bhagwat Kishanrao Karad, Minister of State Pankaj Chaudhary and senior officials of the Finance Ministry called on President Draupadi Murmu at Rashtrapati Bhavan ahead of the presentation of the Union Budget 2023-24.
After the President’s approval, the Finance Minister will take approval from the Cabinet.
If the import duty on items used to make mobile phones is reduced, then buying mobiles after April may be cheaper.
The market is even demanding that GST on mobiles be reduced from 18 per cent to 12 per cent as when it was reduced to 18 per cent, the price of mobiles of Rs 10,000 had gone up to Rs 11,800.
These products became costlier last year when customs duty on electronic items like earphones was increased. The possibility of concessions on this is less, as the government wants the domestic construction of such projects to be strong.