Union Budget 2023: What's costlier and What's not

The budget for the financial year 2023-24 was presented by the Union Finance Minister Nirmala Sitharaman. In the wake of the global recession, many companies have launched layoffs as a precautionary measure. Meanwhile, Finance Minister Sitharaman has increased and reduced taxes on goods. Let's know what will be cheap and expensive.

What is costlier:

• A country kitchen chimney is expensive. 
• Gold, silver, platinum coming from abroad is expensive. 
• Cigarettes are expensive. The emergency tax on cigarettes has now been increased by 16 percent. 
• Diamonds, X-ray machines, umbrellas, alcohol.

 

What has become cheap:

• Lenses of some mobile phones, cameras have become cheaper. 
• Electric vehicles have become cheaper. 
• Things related to LED TV, biogas have become cheaper. 
• Toys, bicycles, automobiles will become cheaper. 
• Basic customs rates on agricultural materials.

 

Textiles and non-agricultural goods have been revised from 21% to 13%. There have been minor changes in basic customs duties, cesses and surcharges on certain items including toys, bicycles, vehicles. Customs duty on cigarettes has been increased.