Union Budget 2024: What Becomes Cheaper and What’s Costlier?

With Finance Minister Nirmala Sitharaman announcing major reductions in customs duty on certain cancer drugs and mobile phones, their market prices are set to drop significantly. The three cancer drugs are Trastuzumab deruxtecan, Osimertinib, and Durvalumab.

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What’s Becoming Cheaper:

• Cancer treatment drugs: Trastuzumab deruxtecan, Osimertinib, and Durvalumab will be exempt from customs duty.
• Mobile phones and chargers: Basic customs duty will be reduced to 15%.
• Imported gold and silver: Duties will be reduced by 6%, boosting retail demand.
• Platinum: Customs duty will be cut by 6.5%.
• Leather goods and seafood: Including shrimps and fish feed, with a 5% duty reduction.

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What’s Becoming Costlier:

• Platinum items
• Gold bars
• Artificial jewelry
• Cigarettes
• Kitchen chimneys
• Compound rubber
• Copper scrap
• Imported telecom equipment

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Published date : 23 Jul 2024 06:32PM