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Published on 1/02/2018 5:14: | Source: ANI

Union Budget 2018: Custom Duty on mobile phones increased to 20%

Posted in Budget| #Finance Minister

New Delhi, Feb 01 :

While presenting the Union Budget 2018 in the Parliament on Thursday, Union Finance Minister Arun Jaitley said the Custom duty on mobile phones will be increased to 20% from 15%.

The move aims to encourage more local manufacturing as the price of imported phones is set to rise. The increased custom duty will force prompt companies such as Apple to speed up local manufacturing, which will in turn generate jobs.