<h1>Customs Duties Reduced to Boost Manufacturing and Agriculture Sectors in 2012-13 Union Budget.</h1> The Union Budget 2012-13 introduced significant changes in customs duties to support various sectors. Customs duties on imported plant and machinery for iron ore plants were reduced to 2.5%, providing relief to the manufacturing sector. The budget emphasized rationalization measures in indirect taxes, including a reduction in basic customs duty for agriculture-related sectors. Additionally, certain infrastructure sectors received full exemption from basic customs duty, aiming to promote growth and development in these areas.