Mobility Industry Feels the Union Budget 2023-24 is Mobility Industry-Friendly
Dear Readers,
Hope you all enjoyed the dawn of 2023 with celebrations and new year resolutions!
Talking about the Union Budget 2023-24, nearly all the mobility industry players believe that it is an industry-friendly budget. Reducing taxes and encouragement to digitalization are expected to drive demand for mobile phones and accessories. Also reduction in the customs duties on some essential components is expected to make the gadgets and TVs cheaper for the users. The focus on infrastructure is expected to drive economic growth and create new job opportunities to the youth. The industry believes it is quite appealing budget. The relief provided to the consumers by like an increase in rebate limit to INR 7 lakh, increase in standard deduction and reduction of the highest surcharge rate are set to boost consumption levels in the country.
We wish the FY2023-24 will bring new hope, success and prosperity to the mobility industry players.
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