INSUBCONTINENT EXCLUSIVE:
Union Budget: Nirmala Sitharaman announced incentives to push electronics manufacturing.New Delhi: Imported items and parts will get
expensive along with umbrellas and unblended fuel from April once Finance Minister Nirmala Sitharaman's latest budget takes effect.On the
other hand, chargers and cameras for phones, wearable tech like smartwatches, hearing aids, gemstones and diamonds, farming tools and smart
meters, steel scraps and chemicals for petroleum refining will get cheaper."Electronic manufacturing has been growing rapidly and customs
duty rates are being calibrated to provide a graded rate structure to facilitate local manufacturing of wearable devices, hearable devices,
and electronic smart meters," Ms Sitharaman said in her speech.A 30 per cent tax on profits from virtual currencies and assets like
Non-Fungible Tokens (NFTs), the rollouts of a state-backed "digital rupee" and 5G telecom services, and a big push for spending on
infrastructure underlined this year's budget.CostlierImported itemsImitation JewellerySpeakers, headphones and earphonesX-ray
machinesUmbrellasUnblended fuelCheaperChargers and cameras for phonesWearable tech like smartwatchesHearing aidsGemstones and
diamondsFarming tools and smart metersCocoa beans and asafoetidaFrozen mussels and squidsSteel scrapsChemicals for petroleum refiningSource:
News agency PTI, Bloomberg
