Air Conditioners And CCTV Cameras To Get More Expensive With Budget 2019

Union Budget 2019 comes with a lot of new inclusion which can make you happy and sad at the same time. On Friday the government of India has made a series of announcements which also includes the hike om custom duty on specific electronic item. If you are planning to purchase CCTV camera, IP camera, digital video recording cameras or the network video recorder then its better to purchase as soon as possible. The government has increased the customs duty on these products from 15 to 20 per cent.

Apart from that, the government has also hiked basic custom duty on optical fibres, optical fibre bundles and cables by 5 per cent. Earlier the custom duty was 10 per cent and now its 15 per cent. This means we can expect a price hike on Fibre connections and new installations as well.

All the proposals were announced by Finance Minister Nirmala Sitharaman. According to her, with this union budget, the government is withdrawing custom duty exemptions on the electronic product which includes connectors, switches, sockets, plugs, relays and more.

If you are planning to buy an air conditioner to beat the heat then you must rush to the mall and get it right now because the government has also increased the customs duty on the indoor and outdoor air conditioner by 10 per cent. So Now it is 20 per cent from 10 per cent. According to the government, this will increase domestic manufacturing and promote make in India campaign.

Custom duty on loudspeakers is also increased by 5 per cent. Earlier it was 10 per cent and now its 15 per cent.

"Make in India is a cherished goal. In order to provide domestic industry a level playing field, basic customs duty is being increased on items such as cashew kernels, PVC, vinyl flooring, tiles, metal fittings, mountings for furniture, auto parts, certain kinds of synthetic rubbers, marble slabs, optical fibre cable, CCTV camera, IP camera, digital and network video recorders etc," News 18 quoted finance minister as saying.