Budget 2023-24: Know what gets cheaper & what becomes costlier, Check the full list
Finance Minister Nirmala Sitharaman on Wednesday proposed some relief on import of certain parts of mobile phones, including camera lenses and lithium-ion cells, to further deepen domestic value addition in the sector which saw significant growth in the last financial year.
Apart from income tax rebate, the Finance Minister’s budget speech outlined which items would get costlier and which would become cheaper.
Here’s a list of products that have gotten cheaper and more expensive.
Union Budget 2023: CHEAPER ITEMS
- Customs duty on parts of open cells of TV panels cut to 2.5 per cent
- Govt proposes to reduce customs duty on the import of certain inputs for mobile phone manufacturing
- Camera lenses for phones, laptops, and DSLRs
- Lithium ion batteries
- Denatured ethyl alcohol
- Acid-grade fluorspar
- Domestic manufacture of shrimp
- Seeds used in the manufacture of diamonds
Union Budget 2023: Costlier Items
- Electric kitchen chimney increased to 15 percent from 7.5 percent.
- Articles made of gold, Silver and platinum hiked.
- Taxes on cigarettes hiked by 16 per cent.
- Basic import duty on compounded rubber increased to 25 per cent from 10 per cent.
Finance Minister Nirmala Sitharaman has called the Indian Union Budget 2023 the first budget of Amritkaal.
Meanwhile, the Economic Survey said India’s GDP is expected to grow in the range of 6 to 6.8 per cent in the financial year 2023-24.
