Union Budget 2024: What Is Cheape, What Is Costlier? Check The List Here
Union Minister Nirmala Sitharaman presented her seventh union budget for the financial year 2024-2025, today. Significant changes in the budget have affected the cost of various items for consumers as well as industries. Here is a list of changes brought to the items making it cheaper and costlier.
While the budget focused on assuring affordable medicines for cancer patients, it also made changes by reducing customs duties on metals like gold, and silver to 6%, and platinum to 6.5%. But the prices of telecom equipment and plastics have witnessed a hike which turned into expensive as the Union Minister announced “PVC flex banners are non-biodegradable and hazardous for the environment, To curb their imports, I propose to raise the BCD on them from then 10 to 25%.”
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List Of Goods That Became Cheaper
- Cancer medicines: 3 cancer medicines exempted from customs duties.
- Mobile phones and chargers: Reduced BCD to 15% for mobile phones.
- Precious metal: Reduced customs duty on Gold and silver to 6% and Platinum to 6.5%.
- Seafood: Reduced BCD on fish feed and Shrimp to 5%.
- Footwear: Reduced customs duty on manufacturing leather and footwear.
- Minerals: Exempted customs duty on 25 critical minerals.
- Solar energy parts: The government proposes not to extend customs on solar energy parts.
- Critical minerals: Exempted customs duty on 25 critical minerals, basic customs duty on two of them will be reduced.
- Ferronickel and blister copper: Exempted customs duties on 25 critical minerals, basic customs duty on two of them will be reduced.
Read Also: “Union Budget 2024-25 Will Empower Every Section…”: PM Modi
List Of Goods That Became Costlier
- Telecom Goods: Basic customs duty on specified telecom equipment has been increased to 15% from 10%.
- Non-biodegradable plastics: Customs duty on non-biodegradable plastics has been raised to 10%.
- Ammonium Nitrate: Customs duty on ammonium nitrate has been raised to 10%.
