Finance Minister Nirmala Sitharaman on Monday said the government is rationalising customs duties on gold and silver. Presenting the Union Budget for 2021-22, she also said customs duties on certain auto parts, solar equipment, cotton and raw silk have been raised.
On the other hand, the finance minister said customs duty on naphtha has been cut to 2.5 per cent, while exempting duty on steel scrap up to March 2022. She also proposed an infrastructure development cess on certain goods.
