To promote exports and enhance domestic manufacturing, Finance Minister Nirmala Sitharaman during her Budget speech on Wednesday announced a reduction in customs duty rates on various commodities and products.FM Sitharaman proposed a reduction .
FM Sitharaman proposed a reduction in the number of customs duty rates on goods except for textiles, from 21 to 13. She also added that the government will also continue concessional duties on lithium ions cells for batteries for one more year.
Union Finance Minister Nirmala Sitharaman during her Budget speech on Wednesday proposed to reduce the number of Basic Customs Duty (BCD) rates on goods other than textiles and agriculture from 21 per cent to 13 per cent.