Business: Reduction in Customs Duty on Phones and Chargers

Business: Finance Minister Nirmala Sitharaman announced a reduction in basic customs duty on mobile phones and chargers to 15 percent. This will bring down the prices of mobile phones.

Finance Minister Nirmala Sitharaman also announced that medicines and medical devices will be exempted from customs duty.

* Reduction in customs duty on gold and silver by 6 percent.