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Updated Feb 02, 2021 | 19:23 IST
The FM in the Budget announced a 2.5% hike in custom duty for parts of smartphones and compressors for refrigerators and air conditioners. Finance Minister Nirmala Sitharaman (File photo)
Key Highlights
Home appliances manufacturers are currently already passing on price hikes in the range of 8 to 14 per cent due to input cost pressures
Industry voices believe the budget annoucement will not have a sizeable impact on prices or demand for these products
Finance Minister Nirmala Sitharaman announced in this year s Union Budget that the custom duty on compressors of refrigerators and air conditioners will be hiked from the current 12.5 per cent to 15 per cent. On the electronics side too, the FM made a push for domestic manufacturing.