Finance Minister P. Chidambaram presented the interim budget 2014 on Monday. Here are some important measures and impacts mentioned in his speech:
Excise duty cut from 12% to 10% on capital goods, electrical & electronic items
Computers, IT hardware, household electrical appliances & industrial machinery to become cheaper
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Excise duty on mobile phones restructured. Producers paying 6% excise duty with Cenvat credit on phones above Rs 2,000 can now pay 1% duty without Cenvat credit
Price of locally made phones above Rs 2,000 to fall
Excise duty on cars, motorcycles & SUVs cut
Prices to fall in the range of Rs 15,000 to Rs 4 lakh depending on the make
