Union Budget 2025 Costlier and Cheaper Items
Presenting the ready reckoner that will help you calculate how the Union Budget impacts your daily and monthly expenses. It allows you to quickly see what has become more expensive and what might now be cheaper. … Read More
Budget 2025-26 Costlier cheaper items
Costlier
Increased basic Customs Duty on interactive flat-panel displays from 10% to 20%
Knitted Fabrics
Cheaper
Mobile phones: 28 additional goods for mobile phone battery production to come in list of exempted capital goods.
36 Lifesaving drugs and medicines to be added to the list of medicines fully exempted from Basic Customs Duty.
EV batteries.
Frozen Fish Paste (Surimi): Customs duty on Frozen Fish Paste (Surimi) to be reduced from 30% to 5% for manufacture and export of its analogue products.
Wet Blue leather
Carrier-grade ethernet switches
12 Critical minerals
Open cell
Basic Customs Duty exempted on raw materials for manufacturing ships for another 10 years.
Marine products
Cobalt products
LED
Zinc, lithium-ion battery scrap
Budget 2024-25 Costlier cheaper items
Costlier
Custom duty on Ammonium Nitrate raised to 10%
Non-biodegradable plastic custom duty raised to 25%
Specified telecom equipment basic custom duty raised to 15%
Shares held for more than 12 months tax raised to 12.5%
Equity investment held for less than 1 year tax raised to 20%
Cheaper
Mobile Phones
Duty on Chargers reduced by 15%
Duty on Leather accessories removed
Platinum – Custom Duty reduced by 6.4%
Gold & Silver – Custome Duty reduced by 6%
3 Cancer treatment drugs exempted from custom duty
Budget 2023-24 Costlier cheaper items
Costlier
Gold, Silver and Diamonds
Platinum items
Gold bars
Imitation jewellery
Cigarette
Kitchen electric chimney
Compounded rubber
Copper scrap
Cheaper
Lithium Batteries
Electric Vehicles
Mobile Phones
Toys
Bicycles
Chimney Heat Coil
Seeds used in manufacturing of lab grown diamonds
Budget 2022-23 Costlier cheaper items
Costlier
Imitation Jewellery
Speakers
Headphones and earphones
Solar cells and modules
X-ray machines
Umbrellas
Unblended petrol and diesel
Parts of electronic toys
Smart meters
Cheaper
Hearing aids
Chargers and cameras for phones
Tech wearables like smartwatches
Cut and polished diamonds
Gemstones
Farming tools
Cocoa beans
Asafoetida
Frozen mussels and squids
Budget 2021-22 Costlier cheaper items
Costlier
Petrol & Diesel
Electronic items
Mobile Phones
Crude palm oil, soyabean & sunflower oil
Apples, Peas, Kabuli Chana, Bengal Gram/Chick peas, Lentil
Cotton
Raw Silk and silk yarn
Denatured ethyl alcohol for manufacture of excisable goods
Prawn Feed
Fish feed
Flours, meals & pellets of fish, molluscs
Maize Bran
Carbon Black
Polycarbonates
Leather, crust leather, finished leather of all kinds
Gemstones
Tunnel Boring Machines
Metal products Screws, Nuts
Compressor of Refrigerator & Air Conditioner
Inputs and parts of LED lights
Lamps
Solar Inverters, lanterns or lamps
Cheaper
Naphtha
Caprolactam
Nylon Chips
Nylon fabric
Iron and Steel melting scrap
Primary/Semifinished products of nonalloy steel
Copper Scrap
Components or parts for aircraft manufacture by PSUs for Ministry of Defence
Platinum
Pallidum
Waste & Scrap of Precious Metals
Gold and silver
Shoes
Insurance
Budget 2020-21 Costlier cheaper items
Costlier
Butter ghee, butter oil, edible oils, peanut butter
Whey, meslin, maize, sugar beet seeds, preserved potato
Chewing gum, dietary soya fibre, isolated soya protein
Walnuts (shelled)
Footwear, shavers, hair clippers, hair-removing appliances
Tableware, kitchenware, water filters, glassware
Household articles of porcelain
Rubies, emeralds, sapphires, rough coloured gemstones
Padlocks
Hand sieves and hand riddles
Combs, hairpins, curling pins, curling grips, hair curlers
Table fans, ceiling fans and pedestal fans
Portable blowers
Water heaters and immersion heaters
Hair dryers, hand drying apparatus and electric irons
Food grinders, ovens, cookers, cooking plates, boiling rings, grillers and roasters
Coffee and tea makers and toasters
Electro-thermic fluid heaters, devices for repelling insect and electric heating resistors
Furniture, lamps and lighting fittings
Toys, stationery item, artificial flowers, bells, gongs, statuettes, trophies
PCBA for mobile phones, display panels and touch assembly, fingerprint reader
Cheaper
Sport goods
Microphones
Pure-bred breeding horse
Newspaper C
Electronic vehicles
Budget 2019-20 Costlier cheaper items
Costlier
Petrol and Diesel
Metal Filling
Auto Parts
Cashew Kernel
CCTV Cameras
Cigarettes Hookha Chewing Tobacoo
Fully Imported Cars
Split Air conditioners
Loud Speakers
Digital video recorders
Imported Plastic
Imported Books
Raw Material for Manufacturing of Soap
Vinyl Flooring
Tiles
Optical Fibre
Ceramic, Wall Tiles
Imported Stainless Steel products
Imported Auto Parts
NewsPrint Paper for Newspaper and Magazine
Marble Slabs
Mounting for Furniture
Cheaper
Electric Vehicles
Electric Vehicles Components
Electronic Application
Set up Box
Charger of Mobile Phones
Import of Defence equipments
Budget Videos
Market
Personal Finance
Costlier Cheaper FAQ’s:
First and foremost, a clear and concise definition. The Union Budget, which is presented by the Central government every year, is a financial statement that outlines the estimated revenue and expenditure for the upcoming fiscal year.
The Union Budget has both a direct and indirect impact on the prices of every item that you purchase. It can be through changes in taxes, duties, and subsidies. An increase in taxes or duties generally makes goods and services more expensive, while reductions announced in the Union Budget can make them cheaper
Items that saw an increase in costs were silver dores, bars, articles, imitation jewellery, articles made of gold and platinum, bicycles, electric kitchen chimney, compounded rubber, imported vehicles and EVs
Items that saw significant reduction in prices included televisions, Smartphones, lab-grown diamonds, lithium-ion batteries for mobile phones, camera lenses among other things.
You can refer to ready reckoners or detailed analyses provided by Financial Express Digital as well as government publications.
The Union Budget can definitely affect your daily and monthly expenditure by changing the cost of goods and services you regularly purchase. For example, if there is any change in the taxes levied on fuel then your transportation costs will also go up. This will impact your commute budget and overall expenditure both on a daily and monthly basis.
While planning personal finances is a life-long exercise, the Union Budget provides a good opportunity to take stock of the situation and fix the problems if any. One must have a clear understanding about absolute necessities.
By understanding which items have become more expensive or cheaper and if they fall under the ambit of necessities, you can adjust your spending habits accordingly. For example, you might cut back on items that have become more costly and take advantage of those that are now cheaper.
Yes, absolutely! The Union Budget can influence long-term cost trends through consistent changes in taxes, duties, and subsidies. Tracking these changes over the period of years can help you understand broader economic trends and plan your finances accordingly.