Question
According to Union Budget 2023-24, consider
the following statements regarding Electronics sectors: 1. Mobile phone production in India has increased from 5.8 crore units valued at about Rs18,900 crore in 2014-15 to 31 crore units valued at over Rs2,75,000 crore in the 2022-23. 2. There is an increase in customs duty on import of certain parts and inputs like camera lens and 3. There is continuation of the concessional duty on lithium-ion cells for batteries. Which of the above statements is/are correct?Solution
As a result of various initiatives of the Government, including the Phased Manufacturing programme, mobile phone production in India has increased from 5.8 crore units valued at about 18,900 crore in 2014-15 to 31 crore units valued at over 2,75,000 crore in the last financial year. To further deepen domestic value addition in manufacture of mobile phones, I propose to provide relief in customs duty on import of certain parts and inputs like camera lens and continue the concessional duty on lithium-ion cells for batteries for another year.
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