Costlier and Cheaper after Budget 2020: Union Finance Minister Nirmala Sitharaman presented her second Union Budget on February 01, 2020. Here is a list of items that have become costlier or cheaper after the announcement of the Budget 2020. A large number of items including cigarettes, tobacco products, medical equipment will be more expensive due to hike in taxes as proposed by Finance Minister Nirmala Sitharaman.
At the same time, several items like skimmed milk, raw sugar, tuna bit, soya fiber, etc will become cheaper.
List of items that will become Cheaper
• Imported newsprint and lightweight coated paper will be cheaper. Budget 2020 announcements reduced the customs duty on newspaper import. It has been halved to 5%.
• PTA or Purified Terephthalic Acid will become cheaper. The government has abolished the anti-dumping duty on PTA.
• Tuna Bait, Soya Fibre, Raw Sugar, some alcoholic beverages, agro-animal based products, Soya protein will become cheaper because custom duty has been withdrawn.
• Home loans and Electric cars can also become cheaper after budget 2020.
List of items that will become Costlier
• Several items like petrol-diesel, gold, cashew, auto parts, synthetic rubber, PVC, tiles will become expensive. Tobacco products can also be expensive after this budget.
• The government has hiked the customs duty on footwear. So that it will become a costlier item after Budget 2020.
• Medical equipment, Kitchenware, and tableware will also become costlier.
• The government has increased customs duty to 20% from 7.5% on wall fans that will make it a costlier item.