Jaipur : Finance Minister Nirmala Sitharaman presented the budget for the 7th consecutive time. Custom duty on gold and silver has been reduced by 4% to 6%. Earlier the custom duty was 10%. Mobile phones will also become cheaper. Custom duty on mobile phones and parts has been reduced by 15%. Mobile phones will become cheaper.
TDS rate to be reduced to 0.1%
The Finance Minister said, “A comprehensive review of the customs structure will be undertaken in the next 6 months. The TDS rate on e-commerce will be reduced to 0.1%. I propose to merge the two tax exemption regimes for donations into one. I propose to decriminalise delay in TDS up to the date of filing of tax.”
Proposal of interest subsidy scheme for loan facility
While proposing central assistance of Rs 2.2 lakh crore for urban housing over the next five years, Union Finance Minister Nirmala Sitharaman also proposed an interest subsidy scheme to provide loans at affordable rates for urban housing works.
Announcement of scheme for tribals
PM Janjati Unnat Gram Abhiyan will be launched to improve the socio-economic condition of tribal communities. The scheme will adopt saturation coverage for tribal families in tribal-dominated villages and aspiring districts, covering 63,000 villages, benefiting 5 crore tribal people.
