NEW DELHI: Union Finance Minister Nirmala Sitharaman presented the first full budget of the third Modi government on Saturday. While skimming through the report, most eyes were curious to find out one thing. What things are going to get cheaper?

There were earlier expectations that the finance minister would announce changes in customs duty on several products. In his Budget 2024 speech, the Finance Minister announced that customs duty on certain items including mobile phones, chargers and some cancer drugs would be reduced.

The finance minister had also proposed a comprehensive review of the customs duty structure within six months. Meanwhile, gold and silver traded higher on Saturday ahead of the budget speech. In Mumbai, gold prices rose by Rs 160 to Rs 84,490 per 10 grams of 24 carats and Rs 150 to Rs 77,450 per 10 grams of 22 carats.

WHAT GETS CHEAPER?

• Medicines for cancer and chronic diseases and 36 life-saving medicines are completely exempted from basic customs duties.

• Electronic goods – Basic customs duty reduced to five per cent.

• Cobalt powder, lithium-ion battery scrap, lead, zinc and 12 critical minerals will be exempted from basic customs duty.

• Electric Vehicles- Items used in the manufacture of batteries for electric vehicles and around 28 items used in the manufacture of mobile phone batteries have been exempted.