https://www.taxtmi.com/news?id=69573 The budget exempts basic customs duty on components and parts for manufacture of civilian and other aircraft and waives duty on raw materials imported for parts used in maintenance, repair and overhaul by defence units, as a fiscal incentive to bolster domestic aerospace production and sustainment. It also raises the defence outlay to about Rs 7.85 lakh crore with a significant increase in capital expenditure to procure new platforms and military hardware, aligning higher defence spending with measures to enhance indigenous industrial capability and procurement efficiency. en-us Sun, 01 Feb 2026 20:01:04 +0530 Sun, 01 Feb 2026 20:01:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=69573 The budget exempts basic customs duty on components and parts for manufacture of civilian and other aircraft and waives duty on raw materials imported for parts used in maintenance, repair and overhaul by defence units, as a fiscal incentive to bolster domestic aerospace production and sustainment. It also raises the defence outlay to about Rs 7.85 lakh crore with a significant increase in capital expenditure to procure new platforms and military hardware, aligning higher defence spending with measures to enhance indigenous industrial capability and procurement efficiency. News - Sun, 01 Feb 2026 20:01:04 +0530 https://www.taxtmi.com/news?id=69573