Finance Minister Nirmala Sitharaman is reported to have made several announcements today that could affect the poor and middle class. NDTV.
While the long-awaited income tax rate and Slavic revisions have been the biggest stir, some consumer goods will be slashed by tariff exemptions and tax cuts.
Parts for mobile phones and TV panels, raw materials for the electric vehicle industry, and machinery for lithium-ion batteries manufactured in India will be cheaper as the country announced a reduction in basic tariff (BCD) on imports of parts. .
The government, which is big on green mobility, has also announced measures that could bring down the price of electric vehicles.
“To further promote green mobility, tariff exemptions have been extended to the import of capital goods and machinery required to manufacture lithium-ion cells for batteries used in electric vehicles,” the finance minister said in today’s speech. said.
However, importing electric vehicles will cost more than before. Fully imported cars, including electric ones, and cars assembled in India using imported parts will also cost more as the finance minister raises tariffs.
However, gold, platinum, silver, scrap copper, compound rubber, tobacco, imported bicycles and toys, and imported electric kitchen chimneys are among the items that will rise in price in the future. (NDTV)