Finance Minister Nirmala Sitharaman while presenting the Union Budget on Monday said the government is rationalizing customs duties on gold and silver.

Presenting the budget 2021-22, she also said customs duties on certain auto parts, solar equipment, cotton, and raw silk have been raised.

On the other hand, the finance minister said customs duty on naphtha has been cut to 2.5 percent, while exempting duty on steel scrap up to March 2022.

She also proposed an infrastructure development cess on certain goods.