New Delhi, Feb. 1 -- The Union Budget 2026, presented by Finance Minister Nirmala Sitharaman on Sunday, has proposed changes to the basic customs duty rate for several items.

The move is aimed at reducing input costs, boosting domestic manufacturing, and promoting export competitiveness.

Changes to the rates described below will take effect from 2 February, 2026.

- Critical Minerals: For monazite, customs duty has been reduced from 2.5% to nil.

- Renewable Energy: Customs duty for Sodium antimonate for use in the manufacture of solar glass has been reduced from 7.5% to nil. Meanwhile, specified capital goods for use in the manufacture of lithium-ion cells used for batteries of Battery Energy Storage Systems (BESS) has been reduced fro...