Price changes on key items announced; Mobile phones to be cheaper?
New Delhi: Finance Minister Nirmala Sitharaman announced significant changes in customs duties in the Budget 2024, leading to price reductions for several key items. The budget includes major reductions in customs duty on cancer medicines and mobile phones, which will bring down their prices in the retail market. Additionally, imported gold, silver, leather goods, and seafood will also become cheaper.
"The government will exempt three more cancer treatment drugs from Customs duty. I will also reduce basic customs duty on mobile phones, chargers, and other mobile parts," Ms. Sitharaman said while presenting the budget in Parliament.
In a bid to boost retail demand and curtail smuggling, Ms. Sitharaman slashed import duties on gold and silver to 6%. This move is expected to stimulate retail demand and help reduce smuggling in India, the world's second-biggest bullion consumer. Higher demand for gold from India could support global prices, which hit a record high earlier this year. However, this might increase India's trade deficit and weigh on the ailing rupee.
On the other hand, the government will raise customs duty on ammonium nitrate by 10% and on non-biodegradable plastics by 25%.
This is the first budget of the Modi 3.0 government and is expected to have a significant impact on India's economic landscape, touching upon various sectors from infrastructure development to social welfare programs.
Prime Minister Narendra Modi had stated that the Finance Minister would present a strong budget, ensuring that the government's guarantees reach the common man. On the first day of the Monsoon Session of Parliament, Nirmala Sitharaman tabled the Economic Survey.
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AI to operate new Dreamliner with limitations; awaits certain FAA approvals
New Delhi (PTI): Air India will operate its new Boeing 787-9 aircraft with certain limitations as the Tata Group-owned airline is awaiting approvals from the US watchdog FAA for the sliding privacy doors in the plane's business class suites and for 18 economy class seats, sources said on Friday.
The aircraft, also the first custom-made Dreamliner to join the Air India fleet after takeover by the Tata Group in January 2022, will enter commercial operations on the Mumbai-Frankfurt route from February 1.
The plane has 296 seats, comprising 30 business class, 28 premium economy and 238 economy class seats. Out of them, 18 economy class seats will not be available for use till the FAA (Federal Aviation Administration) give its approval, the sources told PTI.
In a statement to PTI, an airline spokesperson said the new B787-9 will enter commercial operations on February 1 with certain limitations.
"The sliding privacy doors in our business class suites will remain securely fixed in the open position and unavailable for passenger use, as this specific seat feature awaits regulatory approval. We expect to receive the necessary approval in the near future. All other seat features are available for passenger use," the spokesperson said.
Separately, a total of 18 specific economy class seats are blocked from sale and are also physically blocked from use.
"The seat product itself (RECARO 3710) is fully certified and in regular operation on many airlines worldwide; however, there is a regulatory interpretation affecting the 18 specific seats that we are working with the manufacturer and regulator to resolve.
"The 18 specific seats will only be offered for sale once full certification is received," the spokesperson said.
When contacted over e-mail, an FAA spokesperson told PTI, "We don't comment on ongoing certification work".
There was no comment from Boeing.
In 2026, five more wide-body aircraft -- three Boeing 787-9s and 2 A350-1000s -- are set to join the Air India fleet. The airline, currently, has 188 planes, and the legacy Boeing 787s are undergoing retrofit progressively.
According to the spokesperson, the product limitations due to pending certification apply only to the new B787-9 aircraft, and not to the retrofitted B787-8 planes.
These are two different variants, and their interior fitout undergoes a separate certification process. The certifications for seats and features on the B787-8 are complete and have been approved by relevant regulators and will be available for customer use, the spokesperson added.
The sources also said that some global airlines are awaiting certain regulatory approvals for their business class seats. These include Lufthansa, which is awaiting regulatory certification nod for some of the business class seats in their new Boeing 787-9 aircraft, they added.
At present, Air India has 33 Boeing 787s -- 26 legacy Boeing 787-8s and 7 Boeing 787-9s, including 6 from Vistara and the new one.
In 2025, Boeing delivered 14 Boeing 787s to various airlines, including 12 Boeing 787-9s.
