Thrust in rural electrification and road connectivity.
Peak customs duty on raw materials lowered to 35% from 40%.
Excise duty on watches below Rs 500 per piece increased.
Excise duty on B&W TV increased to 8% from 4%.
Administered interest rates lowered by 50 basis points. |
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Significant thrust on infrastructure development and continuation of rural electrification projects 04
Hike in standard deduction, removal of surcharge and hike in section 80L benefits
Peak customs duty reduced to 25% from 30%.
Excise duty on air conditioners reduced by 8% from 32% to 24% |
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Excise duty on clocks, watches of retail sales prices upto Rs 500 per piece is being raised from 8% and 16%. Parts of clocks, watches of retail price upto Rs 500 per piece will now be liable to tariff with an effective tax rate of 16%.
Excise duty on monochrome television has been raised from 8% to 16%. CTV will attract a uniform excise duty of 16%.
Excise duty on imitation jewellery has been raised from 8% to 16%.
Increased spending on infrastructure and maintaining economic growth momentum from a long-term perspective. |