Brief by Shorts91 Newsdesk / 07:43pm on 01 Feb 2025,Saturday International
Finance Minister Nirmala Sitharaman presented the Union Budget 2025-26, reducing Basic Customs Duty on 36 cancer and rare disease drugs, lithium-ion battery scrap, LED components, and platinum findings. Bikes below 1600cc will have reduced duty at 40%, while those above will drop to 30%. However, knitted fabrics will see an increased duty of ₹115 per kg or 20%, and interactive flat panel displays will have a 20% duty. The government also extended duty exemption on raw materials for ship manufacturing for 10 years. Sitharaman said the budget focuses on transformative reforms in multiple sectors.
