Here is a list of things that got cheaper and dearer after announcement of Budget 2020The Finance Minister Nirmala Sitharaman announced the Union Budget for financial year 2020-21. The Budget was announced at a time when the economy is apparently slumping and the GDP growth has reduced. To reduce the consumption of imported goods and promote the usage of domestic products, the government has increased the custom duties on some products, making those a bit costlier. Also, to reduce the prices of some products, government has decreased the custom duty on the products. Following is the list of products that will either be light on your pocket or will lighten your pocket.
Raw sugar, agro-animal based products, Tuna bait, skimmed milk, certain alcoholic beverages, soya fibre, soya protein will get cheaper as they are exempted from custom duty.
Customs duty on import of newsprint, light weight coated paper to be reduced to 5 per cent, thus decreasing its cost.
The Anti-dumpting duty on Purified terephthalic acid has been abolished hence reducing its cost.
Things that will become dearer after Budget 2020
The custom duty on kitchenware/tableware has increased thus, increasing the cost of crockery made of porcelain, bone china, steel etc.
Custom duty on wall fans is increased from 7.5% to 20% thus increasing its cost.
The cost of the healthcare equipment are going to increase after Budget 2020
Furniture will become expensive after the custom duty on it is increased.
The custom duty on the imported footwear is increased thus burdening your pockets
The cost of cigarettes, other tobacco products will increase
