AC, fridge won't cost more so India chill out!!

It hasn't come down, but at least it hasn't gone up. The flat screen TV you wanted to own, is still within your reach. So, is the double door refrigerator and the AC you wanted this summer. For, prices of consumer durables will remain unchanged as the Budget has virtually left this sector untouched, for better or worse. The reduction in peak customs duty to 10% will not have a major impact as major players such as Samsung, LG Electronics and Videocon are engaged in local manufacture. The industry had asked for an overall reduction in tax and duties at par with those in Asian countries since India has entered into FTA with Asian countries. "The only relief that has come is in the form of the reduction in the peak rate of customs duty from 12.5 to 10%. Overall, I see no benefit for the buyer," says R Zutshi, deputy MD, Samsung India. Nilesh Gupta, managing partner, Vijay Sales, said for the first time, there was no mention of refrigerators or TVs.

Courtesy:EconomicTimes
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