Finance Minister Nirmala Sitharaman on Friday July 5, presented the Union Budget – a statement of the estimated receipts and expenditure of the Government of India for the year 2019-20 – in the Lok Sabha. While laying her statement on the Parliament table, Sitharama announced a hiked tax and raised import duty on various objects.
Here’s a list of items that are set to get more expensive and cheaper once the budget comes into effect.
EXPENSIVE
- Petrol and diesel
- Cigarettes, Hookah and chewing tobacco
- Gold and silver
- Fully-imported cars
- Split air-conditioners
- Loudspeakers
- Digital video recorders
- Imported books
- CCTV cameras
- Cashew Kernels
- Imported plastics
- Raw materials for manufacture of soap
- Vinyl flooring, tiles
- Optical fibre
- Ceramic tiles and wall tiles
- Imported stainless steel products
- Imported auto parts
- Newsprint and paper for newspaper and magazines
- Marble slabs
- Mountings for furniture
- Sports equipment
- Stop watches
- Sunglasses
- Sunscreen, suntan
- Toilet waters
- Toothpaste
- Toys
- Truck, bus radial tyres
- TV sets
- Vegetable juices
- Video games
- Wrist watches
CHEAP
- Electronic goods
- Electric vehicles
- Set-top box
- Import of defence equipment
Meanwhile, PM Modi said the union budget presented today is “one of hope” and “it is a budget that will boost India’s development in the 21st Century”.
At the same time, Union Home Minister Amit Shah said the finance minister presented a budget for a “new India”, which laid the foundation for an inclusive and progressive nation, the rise of which was powered by the hard work of 130 crore countrymen.
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