Finance Minister Nirmala Sitharaman presented the third budget (Union Budget 2021) in Parliament on Monday i.e. February 1. It is the country’s first budget amid the Corona epidemic. In this Union Budget, if any section gets happiness, then someone is disappointed. However, the general public has not received any special relief in this budget. Let us tell you that while presenting the budget, while the Finance Minister said that an effort will be made to give MSP to farmers at one and a half times the cost, on the other hand he said that – Custom duty charge on equipment has been increased.
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Due to which the mobile charger and electric product (electronic device price hike) will be expensive. Nirmala Sitharaman has said in the budget that foreign mobiles are expensive. The custom duty on smartphones has been increased to 2.5 percent.
Domestic electronic manufacturing has grown rapidly. For greater domestic value addition we're withdrawing a few exemptions on part of chargers & sub-parts of mobiles. Further some parts of mobiles will move from nil rate to a moderate 2.5%: FM Sitharaman
— ANI (@ANI) February 1, 2021
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Especially after this announcement, the biggest shock has come to those smartphone maker companies, whose devices are manufactured abroad, not in India. However, domestic tech companies will also get the most benefit from it. During the presentation of the budget, Sitharaman said that in the last few years, the sales of smartphones have increased much more than before. In India today, mobile phones are being produced by many companies, while mobile as well as mobile parts are being exported from India on a large scale.