Yesterday, FM Nirmala Sitharaman presented the Union Budget for the year, and while the main focus was on health and infrastructure, there was also a highlight on an increase in custom’s duty on certain items.
This obviously means that some things are going to get more expensive. Here’s what they are.
1. Mobile phones, chargers, and power banks.
2. Spandex fibre clothes.
3. Automobile parts such as safety and toughened glasses and windscreen wipers.
4. Leather items.
5. Refrigerators and ACs.
6. Imported toys.
7. Imported raw silk.
8. Solar lanterns.
However, certain things will get cheaper as well, such as these.
1. Gold and silver.
2. Iron, steel, and copper items.
3. Nylon clothes.
4. Insurance.
5. Agricultural equipment.
6. Shoes.
Apart from this, it had also been thought that the price of alcoholic beverages would go up. However, that has been offset as the corresponding basic customs duty has been reduced.