OK, Indian mobile phone lovers –Budget 2011 has bad news for you. Starting April 1, the central excise duty on mobile phones will be increased from the current four per cent to five per cent. In common parlance, mobile phones are turning expensive.
Worse, the Budget mentioned no significant steps on the spectrum related issues.
We presume that the only happy lot in this sector must be the telecom equipment manufacturers. After all Finance Minister Pranab Mukherjee has suggested to extend concession on parts, components and accessories for manufacture of mobile phones for one more year.