If you’re planning to buy a new mobile phone, electronic gadgets, or an electric vehicle (EV), there’s some good news for you! In the Budget 2025-26, the government has announced a reduction in customs duty on several essential items, which means their prices are likely to drop. On Saturday, Finance Minister Nirmala Sitharaman presented the budget, introducing major changes in the Basic Customs Duty (BCD). While this will make some items more affordable, others might become more expensive. Let’s take a closer look at what will get cheaper and what will cost more.
Mobile Phones and Electronics to Become Cheaper – The government has taken several steps to reduce the prices of mobile phones, electronics, and tech products.
- Customs duty on 28 components used in mobile phone batteries has been removed, which could lead to a drop in smartphone prices.
- Headphones, wired headsets, microphones, and USB cables will also become more affordable as the customs duty on raw materials used to make them has been reduced.
- Basic Customs Duty on open-cell displays and other electronic components has been lowered, making several electronic products cheaper.
- 35 additional items used in EV battery manufacturing will now have zero customs duty, giving a boost to the electric vehicle industry.
- Lithium-ion batteries, cobalt powder, and 12 other critical minerals will also be exempt from customs duty, which could lead to lower prices for EVs and high-tech gadgets.
- The **leather industry has received tax relief
