Monday, July 6, 2009

What's cheaper, what's costlier ?

Presenting the Union Budget for 2009-10, Finance Minister Pranab Mukherjee proposed reduced customs duty on LCD TVs to 5 per cent from existing 10 per cent, making the product cheaper. Prices of thin flat screen TVs and monitors will come down as the government lowered the basic customs duty on LCD panels used in manufacturing of such electronic goods to 5 per cent from 10 per cent. Besides, the government extended the exemption from full 4 per cent CVD on accessories, parts and components that are imported for making mobile phones, by one year. He also announced reducing basic customs duty on permanent magnets -- a critical component for Wind Operated Electricity Generators -- to five per cent from 7.5 per cent. But I don’t know what is done for bringing food items prices down? Just see any Daal is not lesser than Rs60/- per kg. Normal rice are being sold at 30-40/- per Kg. What is Congress doing by showing LCD prices lower by 5%. I feel that it’s a Third Grade budget by fourth class FM.

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