Smartphones & power banks to become expensive due to hiked custom duty
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FM Nirmala Sitharaman announced a 2.5 percent hike in customs duty on certain mobile phone parts and power banks. In the previous budget too, the minister had hiked duty on products like fans, refrigerators, lamps, medical equipments, electronic toys, headphones, ovens and mixer grinders. This hike is brought to motivate manufacturers to make smartphones and other products in India.