P. Chidambaram budget 2014: Impact on your wallet

Feb 18 2014, 14:02 IST
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FM P. Chidambaram presented the interim budget 2014 on Monday. (AP) FM P. Chidambaram presented the interim budget 2014 on Monday. (AP)
SummaryFM P. Chidambaram presented the interim budget 2014 on Monday.

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

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

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