Mobile phones, TV, video game prices may go up now
Mobile phones, TV, video game prices may go up now
National

Mobile phones, TV, video game prices may go up now

Pennews

Finance minister Arun Jaitley while presenting the Union Budget 2018 on Thursday said that the customs duty on mobile phones will be increased to 20 per cent from the existing 15 per cent, in a bid to promote 'Make in India' and create jobs in the country.

Presenting the budget, Jaitley said he was making a "calibrated departure" from the usual practice of reduction in customs duties.

Jaitley also said customs duty for certain TV parts will also be be raised to 15 per cent. Most of these parts were previously under the 7.5 and 10 per cent slab.

This is likely to translate into future mobile phone and TV set purchases getting pricier.

Commenting on the decision, Indian Cellular Association (ICA) National President Pankaj Mohindroo told PTI that this will be the "last nail in the coffin" of imports.

Video game consoles will also attract a customs duty of 20 per cent, up from 10 per cent.

As a rationale for the move, Jaitley said that there is substantial potential for domestic value addition in certain sectors, like food processing, electronics, auto components, footwear and furniture.

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