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Select life saving drugs, LCD TVs, mobile phones, branded jewellery, sports and leather products, packaged software and footwear are among items that would cost less, while gold bars and coins, silver, set-top boxes and cosmetic surgery would turn costlier after the Budget. Presenting the Union Budget for 2009-10, Finance Minister Pranab Mukherjee on Monday proposed reduced customs duty on life saving drugs to five per cent from existing 10 per cent. LCD TVs would also attract the lower five per cent customs duty, making the product cheaper. Mr. Mukherjee, however, has imposed five per cent customs duty on set-top boxes used for Direct-To-Home television service. He also announced duty sops for green energy products like bio-fuel and generators used in environment-friendly sectors by lowering customs duty to five per cent from 7.5 per cent. In a move to appease women, the Minister did away with excise duty on branded jewellery from existing two per cent. However, gold bars, coins and silver would become costlier as the government has proposed to increase customs duty. Gold bars and gold coins would now attract Rs 200 per 10 gram from earlier Rs 100 while on silver, the custom duty has been increased to Rs 1,000 a kg from Rs 500. |
Tags: Budget
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