Budget 2024: Will the price of smartphones decrease..!?

Sowmiya Sriram
Budget 2024: Will the price of smartphones decrease..!?

Nirmala Sitharaman, who has taken over as the Finance minister after the results of the lok sabha elections, is going to present the budget tomorrow, July 23, so we can know the expectations of the electronics sector especially if smartphone prices will be reduced. After the results of the lok sabha elections, nirmala sitharaman, who has taken charge as the Finance minister, is going to present the budget tomorrow, July 23, and we can know the expectations regarding the budget regarding the electronics sector especially if the smartphone prices will be reduced. nirmala sitharaman will present her seventh budget in parliament on July 23.
There are expectations that the tax on mobile phones will be reduced in the upcoming budget. This will reduce the price of mobile phones. Smartphone users are eagerly waiting for Finance minister nirmala sitharaman to make an announcement to reduce the price of the phone. It is an undeniable fact that smartphones have gone from being a luxury item to an essential item. So, if phones come down in price, many middle-class people will benefit. Last year, the central government reduced duties on essential items such as camera lenses to encourage mobile phone manufacturing in india to help companies make phones at lower prices. Tariffs on lithium-ion batteries used in phones and electric vehicles have also been reduced.
The new nda government is expected to revive its flagship program PLI (Production Linked Incentive) in the upcoming budget. The aim of the scheme is to ensure that indian products are considered superior even when sold abroad. Under this PLI scheme, which encourages in-house manufacturing, companies that manufacture more products in india will get more benefits. The project will encourage large-scale production of goods and attract new investments. Under the PLI scheme, industries will grow and local employment opportunities will increase. Also, the volume of indian products exported to foreign countries also increases. The government has already started the PLI scheme for 14 essential sectors like electronics, textiles, etc. Currently, it has been reported that the central government is planning to expand this program in many sectors. Like the electronics industry, the automobile industry is also in high demand. With a view to boosting the economy, the Society of indian Automobile Manufacturers (SIAM) has expressed hope that the government may make important announcements in the budget to help the growth of the automobile sector.


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