Union Finance Minister Nirmala Sitharaman spoke for more than two hours in her maiden budget speech and promised a better future to countrymen. Though she didn't make many changes in tax slabs, she introduced
cess and excise duties on some products.
cess and excise duties on some products.
With her budget receiving mixed reactions across the spectrum, let's take a look at things which became costlier and those which became cheaper.
Now, spend more to buy petrol and gold :-
In a move which didn't sit well with citizens, Sitharaman levied a cess and excise duty of Rs. 1 each on diesel and petrol.
She also increased customs duty on gold and other precious metals to 12.5%, from the existing 10%, effectively making their purchase costlier.
Items like cigarettes, hooka, fully imported cars, automobile parts, optical fiber cable, digital cameras, cashew, also became costlier.
CCTV cameras, mobile chargers, and imported books will cost more :-
Other items which became costlier are synthetic rubber, vinyl flooring, imported books, split air-conditioners, loudspeakers, digital video recorders, CCTV cameras, imported plastics, raw materials for the manufacture of soap, tiles, imported stainless steel products, newsprint, mountings for furniture, camera module and chargers of mobile phones.
Electronic goods and electric vehicles became cheaper :-
Centre suggested reducing customs duties on raw materials and capital goods to promote domestic manufacturing.
Duties were decreased on items like amorphous alloy ribbon, ethylene dichloride, propylene oxide, cobalt matte, naphtha, wool fibers, inputs for the manufacture of artificial kidney and disposable sterilized dialyzer, and fuels for nuclear power plants.
Meanwhile, electronic goods, electric vehicles, set-top boxes, and import of defense equipment became cheaper.
