In the budget plan for the years 2023–2024, the federal government placed a federal excise charge (FED) on incandescent and inefficient bulbs.
To discourage the use of inefficient fans, the government has levied FED at Rs 2000 per fan. The federal cabinet has levied a 20% ad-valorem levy on incandescent bulbs. To discourage the use of these inefficient bulbs, a 20% RD is introduced on tungsten filament incandescent lamps and their parts.
Numerous IT industry reliefs have been revealed, and there have also been proclaimed incentives for the agriculture department. To encourage energy saving, the budget has levied levies on a number of home goods that waste energy. In addition, the government did not raise tariffs on imports of necessary goods for commerce and enterprise.
People should switch to energy-efficient fans after the new budget in order to save money and energy.