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| From headphones to umbrellas: What gets cheaper, what’s costlier in Budget 2022 Here is a list of items that will become costlier or cheaper following today's Union Budget. Pic:-india.com |
From headphones to umbrellas: What gets cheaper, what’s costlier in Budget 2022
Here is a list of items that will become costlier or cheaper following today's Union Budget.
From headphones, umbrellas, imitation jewellery, to cocoa beans, and cut and polished diamonds, prices of various commodities will see a rise or dip following Finance Minister Nirmala Sitharaman’s Budget on Tuesday.
While imported items, along with umbrellas and unblended fuel will see a rise in prices from April when the Budget comes into effect, chargers and cameras for phones, wearable tech like smartwatches, hearing aids, gemstones and diamonds, farming tools and smart meters, steel scraps and chemicals for petroleum refining will get cheaper.
“Electronic manufacturing has been growing rapidly and customs duty rates are being calibrated to provide a graded rate structure to facilitate local manufacturing of wearable devices, hearable devices, and electronic smart meters,” the Finance Minister had said in her speech.
Following is a list of imported items that will become costlier.
Umbrella
Imitation Jewellery
Single or multiple loudspeakers
Headphones and earphones
Smart meters
Solar cells
Solar modules
X-ray machines
Parts of electronic toys.
However, certain goods will become cheaper as the government has slashed the customs duty and they are:
Frozen mussels
Frozen squids
Asafoetida
Cocoa beans
Methyl alcohol
Acetic acid
Cut and polished diamonds
Camera lens for cellular mobile phone.
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Union Budget 2022 What gets cheaper
Clothes
Leather Goods
Gem stones and Diamonds
Imitation jewellery
Custom duties on chemicals needed for petroleum products
Concessional customs duty on steel scrap
Machines from foreign nations
Farming goods
Mobile phones and chargers
Co-operative surcharge reduced from 12% to 7%
Domestic electronic wearable devices
Hearable devices and electronic smart meters
Frozen mussels and squids
Asafoetida
Cocoa beans.
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What is costly post Budget 2022
All imported items
Duty on umbrellas increased
Single or multiple loudspeakers
Headphones and earphones
Smart meters
Solar cells
X-ray machines
While presenting the Union Budget on Tuesday, FM said that India is set to clock growth rate of 9.2 per cent, which could be the highest in the world in the current fiscal. With a focus on four pillars of development inclusive development, productivity enhancement, energy transition and climate action the Budget gives a blueprint of economy from India at 75 to India at 100, Sitharaman said.