Budget 2022: Finance Minister Nirmala Sitharaman on Tuesday presented the Union Budget 2022. Announcing a number of measures and steps during her Budget monologue on February 1, 2022, she stated the items that are soon to get costlier.
A big list of commonly used items are set to become cheaper too. But a hike in customs duties on imported parts is surely to make many items become more expensive than before. Here’s a list of all those items/goods that will become cheaper and costlier.
All the imported items got costlier now after Union budget 2022. Also. duty on umbrellas was raised to 20 percent. Exemption to parts of umbrellas is being withdrawn.
Import custom duty on imitation jewelry is now Rs 400 per kg. When it comes to computers, laptops, mobile phones, these will get cheaper as per Budget 2022 to give a push for “Digital India.”
Budget: What gets cheaper and what gets costlier?
Customs duty on certain chemicals which are needed for petroleum refining will be reduced. Customs duty on cut and polished diamonds, gems will also be reduced to 5 percent.
Moreover, in order to incentivize exports, duty on specified leather and packaging boxes has also been reduced.
Among others, goods or items that got cheaper as after Union Budget 2022 include Broadcasting, tourism, broadband internet in rural areas, transformer equipment., mobile phone chargers, agro-forestry, agricultural equipment, electronic equipment, steel, imported manufacturing machines and apparel.
