Budget 2023: TVs Made in India to Get Cheaper by Up to Rs. 3,000 After Tax Cuts on Imported Parts
Locally manufactured television sets will become cheaper by up to Rs 3,000 with finance minister Nirmala Sitharaman on Wednesday announcing a reduction in basic customs duty (BCD) on imported parts to 2.5 percent from 5 percent.The reduction of customs duty on parts of open cells will help to effectively reduce the price of TVs by around 5 percent, according to some industry players.Open cell panels account for over 60-70 percent of the cost of manufacturing LED TV sets. Most TV makers import these panels.In her Budget…