Latest News
-
Gold Prices India; Biggest Jump In 24-Carat In 55 Days; Know Tax Rates On Profits On Phsyical Gold -
Mandatory Testing for Indian Spices Destined for Singapore, Hong Kong After Ban -
TRAI Advocates for Enhanced Telecom Infrastructure Sharing Among Licensees -
LTIMindtree Reports Slight Q4 Profit Dip, Optimistic About Upcoming Growth -
Axis Bank Announces Q4 Net Profit at Rs 7,599 Crore Amid Deposit Accretion Worries -
hBits Expands to Pune with CyberCity Magarpatta Acquisition, Eyes Investment Opportunities -
India's First Green Hydrogen Pilot Project Goes Live at Nathpa Jhakri -
DCB Bank Q4 Results: PAT Grew 9% To Rs 156 Cr, NII Jumps 4.5%; Dividend Declared -
RBI Halts New Customer Onboarding at Kotak Mahindra Bank Over IT Compliance -
Macrotech Developers' Annual Profit Triples Despite Q4 Dip
Union Budget 2018 Gives a Boost to “Make in India”
In his Union Budget Speech, Finance Minister Arun Jaitley said "I am making a calibrated departure from the underlying policy in the last two decades, wherein the trend largely was to reduce the custo
In his Union Budget Speech, Finance Minister Arun Jaitley said "I am making a calibrated departure from the underlying policy in the last two decades, wherein the trend largely was to reduce the customs duty" as the government feels that there is a substantial potential for domestic industries in certain sectors.
There will be an increase in customs duty for 2018-19 on electronics, auto components, footwear, etc to give domestic players an edge over competitors from international markets especially China. This move will incentivise the "Make in India" mission.
Customs duty on mobile phones went up to 20% from the previous 15% and certain parts of TV and mobile accessories like USB modules, circuit boards, phone batteries and cameras will now be imposed with 15% customs duty.
Mobile phones from leading brands like Xiaomi, Samsung and Apple will now cost around 4% more. Multinational Indian companies that assemble their phones abroad will now try to shift to India. This will in turn increase employment in India.
