NewDelhi> First Budget of Prime Minister Narendra Modi's Second term Presented By Finance Minister Nirmala Sitharaman in the Parliament on Friday. While the Budget was sprinkled with a few hits and misses, it mostly failed to live up to the expectations of many and fell short of any mega announcements. Also proposed few changes in terms of excise duty and cess. The government announced an increase in the cess and excise duty each by 1 rupee per litre on petrol and diesel, and increased the customs duty on gold to 12.5 per cent from 10 per cent.
Both the proposals meant purchase of commodities such as fuel and gold will become costlier going forward. Ms Sitharaman said a higher customs duty on gold and precious metals will mobilise resources. Besides, the government also raised the basic customs duty applicable to a range of products such as tiles, cashew kernels, vinyl flooring, auto parts, some synthetic rubber, digital and video recorder and CCTV camera.
Here’s a look at the things that are set to become costly and those whose prices will see a drop.
COSTLY
Petrol
Diesel
Gold, silver
Cigarettes, hooka
Fully imported cars
Automobile parts
Optical fibre cable
Digital camera
Cashew
Synthetic rubber
Vinyl flooring
Imported books
Split air-conditioners
Loudspeakers
Digital video recorders
CCTV cameras
Imported plastics
Raw materials for the manufacture of soap
Tiles
Imported stainless steel products
Newsprint
Mountings for furniture
Camera module and charger of mobile phones
CHEAP
Electronic goods
Electric vehicles
Set-top box
Import of defence equipment
