HYDERABAD: The Budget for this year (the financial year 2023-2024) is out, and Union Finance Minister Nirmala Sitharaman has a few incentives for camera lovers. Most hobby photographers may not have been interested in agricultural or infrastructure reforms, but their eyes popped when she announced some highlights like camera lenses getting cheaper.
The cost has always been a major concern for both hobby photographers and professionals. Many were postponing their gear upgrades or purchases due to the high price tags that come with cameras and lenses. However, with the recent budget announcement, they can now look forward to shelling out less money on lenses.
“The rising costs of lenses were due to the chip shortage caused by the Covid-19 pandemic and increased production costs for manufacturers,” said Aquin Mathews founder and artistic director of the Indian Photo Festival.
The government has waived customs duties to promote local manufacturing, which is expected to bring down the prices of lenses. “We don’t know about local manufacturing yet,” Aquin said. He added. “While prices of most lenses have increased in the past, this latest development is a welcome change for the photography community. The fast-selling lens segment, in particular, will see a drop in prices, making
high-quality lenses more accessible to a wider audience.”
“This is great news for us photographers who have been holding back on gear upgrades due to the
high cost of lenses,” Aqu in concluded.