Union Budget 2024 : Mobile Phones to Become Cheaper

In the Union Budget 2024-25, Finance Minister Nirmala Sitharaman announced a significant reduction in the Basic Customs Duty (BCD) on mobile phones, bringing it down to 15%1. This move is aimed at making mobile phones more affordable for consumers across India.

Key Announcements

The reduction in customs duty is part of a broader strategy to boost the manufacturing sector and make essential electronic goods more accessible. By lowering the import taxes on mobile phones and their components, the government aims to encourage domestic production and reduce the overall cost of these devices3. This initiative is expected to benefit both consumers and manufacturers, fostering a more competitive market.

In addition to mobile phones, the customs duty on mobile chargers and other related accessories has also been reduced4. This comprehensive approach ensures that the cost savings are passed on to consumers, making a wide range of mobile devices and accessories more affordable.

Impact on Consumers

The reduction in customs duty is expected to lead to a noticeable decrease in the retail prices of mobile phones. Consumers can look forward to more budget-friendly options, especially in the mid-range and entry-level segments. This is particularly significant for a country like India, where mobile phones are a crucial tool for communication, education, and business.

Moreover, the government’s focus on promoting local manufacturing is likely to create more job opportunities and stimulate economic growth. By making mobile phones cheaper, the government is also addressing the digital divide, ensuring that more people have access to modern technology.

In conclusion, the Union Budget 2024-25 brings good news for mobile phone users in India. The reduction in customs duty is a strategic move to make mobile phones more affordable, promote domestic manufacturing, and support the overall economic development of the country.