Budget 2015 will get cheaper the Made in India Phones and Tablets - RNews1 Network

Budget 2015 will get cheaper the Made in India Phones and Tablets

Union Budget 2015, finance minister arun jaitley, budget 2015
New Delhi : The first fulfilled Budget of Narendra Modi's Government 'Union Budget 2015' presented by Finance Minister Arun Jaitley today in Parliament, wich is seem to get benefits if manufactured in India.

Presenting the Budget 2015-16 in Parliament, Finance Minister Arun Jaitley said: "I propose to reduce the rates of basic customs duty on certain inputs, raw materials, intermediates and components (in all 22 items) so as to minimize the impact of duty inversion and reduce the manufacturing cost in several sectors." 

The role of indirect taxes is very important in the context of promotion of domestic manufacturing and "Make in India", he said.

Giving a boost to PM Narendra Modi's pet Make In India program, the Budget 2015 provides a slew of benefits for Original Equipment Manufacturers who manufacture in the country. Custom duty has been reduced on 22 items, including mobiles and tablets being made in India. 

Though the fine text is yet to emerge, mobile phones made in India are going to get 11.5 per cent duty advantage, while tablets made in the country will get 10.5 per cent duty advantage.

The overall budget, believe analysts, bodes well for Making in India. LED TV's and other LED electric equipment are also set to get benefits if manufactured in India.

Some other changes address the problem of CENVAT credit accumulation due to the levy of SAD, he added. 

"I propose to fully exempt all goods, except populated printed circuit boards for use in manufacture of ITA bound items from SAD and reduce the SAD on imports of certain other inputs and raw materials subject to actual user condition," Jaitley said.



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