Budget 2022 | What gets costlier and what's cheaper
Budget 2022 | Finance Minister Nirmala Sitharaman made a number of announcements during her Budget presentation on February 1, 2022. Take a look at the items/goods that will become cheaper and costlier.
Finance Minister Nirmala Sitharaman made a number of announcements during her Budget presentation on February 1, 2022. A large number of commonly used items are set to become cheaper as per Sitharaman’s proposed Budget for 2022-23. However, due to a hike in customs duties on imported parts, many items will become more expensive. Take a look at the items/goods that will become cheaper and costlier.
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Costlier | Duty on umbrellas raised to 20 percent. Exemption to parts of umbrellas is being withdrawn.
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Costlier | All imported items are costlier now.
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Cheaper | Import custom duty on imitation jewelry is now Rs 400 per kg. (Representative image)
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Cheaper | Computers, laptops, mobile phones also got cheaper as per Budget 2022 to give a push for digital India.
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Cheaper | Customs duty on certain chemicals needed for petroleum refining are being reduced.
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Cheaper | Customs duty on cut and polished diamonds, gems to be reduced to 5 percent.
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Cheaper | To incentivize exports, duty on specified leather and packaging boxes reduced.
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Cheaper | Other things which got cheaper as per Union Budget 2022 are - broadcasting, tourism, broadband internet in rural areas, apparel, mobile phone chargers, agro-forestry, agricultural equipment, electronic equipment, steel, imported manufacturing machines and transformer equipment.
