Budget 2020-21: What gets costlier and what gets cheaper
Finance Minister Nirmala Sitharaman has announced the budget for the upcoming fiscal starting April 1, 2020. Though budget brought joy to some sections, it has not really lived up to the expectations of the common man or market investors.
Adding to the common’s man woes is additional customs duty on some products which will cost more now. On the contrary, customs duty on two components has been decreased.
Customers may now have to pay more for stuff like imported footwear, furniture and even medical services. People will also pay more for a few alcoholic beverages and tobacco as customs duty on them have been increased.
Other products like kitchenware, raw sugar, soya protein, imported medical equipment will also burn a bigger hole in your pocket. Here is a complete list of what gets costly and what gets cheaper:
What gets costlier? (increased cess/duty)
Imported medical equipment
Some alcoholic beverages
Agro-based animal products
Catalytic converters/some electrical products
Some automobile spare parts
What gets cheaper? (decreased cess/duty)
Import of newsprint, lightweight coated paper reduced to 5%
Purified terephthalic acid
(this content is taken from https://www.indiatoday.in/ for knowledge basis and for news updates)