01/02/2025
New Delhi: Finance Minister Nirmala Sitharaman presented the Union Budget 2025-26, outlining key priorities to accelerate economic growth, ensure inclusive development, support industries, and enhance household sentiment.Budget 2025: What gets cheaper? Check full list
A total of 36 life-saving drugs, including those for cancer and chronic diseases, have been
fully exempted from Basic Customs Duty (BCD).
Medicines: Basic Customs Duty was removed on 37 more medicines.
Cobalt powder and waste, the scrap of the lithium-ion battery, Lead, Zinc and 12 more critical minerals have been fully exempted from Basic Customs Duty (BCD). This will help secure their availability for manufacturing in India and promote more jobs for our youth
Mobile phones: 28 more items essential for mobile phone battery production will be added to the list of exempted capital goods.
EV batteries: To the list of exempted capital goods, she proposed to add 35 additional capital goods for EV battery manufacturing, and 28 additional capital goods for mobile phone battery manufacturing.
Frozen fish paste: FM Nirmala Sitharaman said, "To enhance India's competitiveness in the global seafood market, I propose to reduce BCD from 30% to 5% on Frozen Fish Paste (Surimi) for manufacture and export of its analogue products. I also propose to reduce BCD from 15% to 5% on fish hydrolysate for manufacture of fish and shrimp feeds."
Wet Blue leather: FM Sitharaman added, "I propose to fully exempt BCD on Wet Blue leather to facilitate imports for domestic value addition and employment. I also propose to exempt crust leather from 20% export duty to facilitate exports by small tanners."
Carrier-grade ethernet switches: To prevent classification disputes, the government has proposed to reduce the BCD from 20 per cent to 10 per cent on Carrier Grade ethernet switches to make it at par with Non-Carrier Grade ethernet switches.
12 Critical minerals
Open cell of LCD/LED Tvs.
The Finance Minister has announced a 10-year extension on the exemption of Basic Customs Duty on raw materials used for manufacturing ships.