Gold, silver and other precious metals along with imported mobile phones, certain cancer drugs and medical devices are set to become cheaper with Finance Minister Nirmala Sitharaman announcing cuts in customs duty in the Union Budget 2024-25.
The budget has been neutral with positive bias for the auto component industry.
Budget has hiked customs duty on all ores and concentrates from 2 per cent to 2.5 per cent.
The ferro alloy sector seeks hike in customs duty on entire range of ferro alloys to 10%, except retaining customs duty on ferro nickel at 5%, which is fully imported.
The govt has hiked customs duty for metallurgical coke.
Industry demands the basic customs duty on all steel imports to be raised to 25%
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