Union Budget 2026 | Cancer drugs, leather goods & ovens: Here's what just got cheaper and what got costlier

Union Finance Minister Nirmala Sitharaman on Sunday (February 1, 2026) presented her ninth Budget. This year’s (2026-27 fiscal) Budget comes against the backdrop of intensifying global trade tensions, a record drop in the value of the rupee, a surge in gold and silver prices, and stock market volatility.

The government has already tabled the Economic Survey 2025-26 on Friday (January 30), highlighting the Indian economy's performance over the past financial year, and expectations for the coming year. Ahead of the Budget, economists opined that the FM would have to ease the tax burden on the middle class, which drives consumption demand.

Track LIVE updates as FM presented Union Budget 2026-27

In the 2026 Budget presentation, FM Sitharaman has announced duty cuts on critical medicines and like the previous years, has increased the taxes on sin goods.

Union Budget 2026: Here's what getting affordable

1) 17 cancer drugs

2) Seafood

3) Leather products

4) Smartphones

5) EV batteries

6) Solar panels

7) Microwave ovens

8) Sports equipment

9) Consumer electronics products imported for personal use will get cheaper. The tariff rate on all dutiable goods imported for personal use under Chapter heading 9804, has been reduced from 20 per cent to 10 per cent.

Union Budget 2026: Here's what getting expensive

1) Alcohol

2) Tobacco products like cigarettes and pan masala

3) e-Readers ( as raw materials or parts used in the manufacture of e-Readers will no longer benefit from duty exemptions starting April 2026)

4) CD-ROMs (Duty exemptions on CD-ROMs containing educational books, journals, and periodicals are being withdrawn from April 2026)

5) Digital Cameras ( The customs duty exemption for parts and components of digital still image video cameras will lapse in April 2026)

6) Video Games and Software (exemptions are being removed for parts of video games, as well as motion pictures, music, and gaming software recorded on media)

7) Umbrellas (Parts, trimmings, and accessories for umbrellas will now attract a duty of 10 per cent or ₹25 per kg, whichever is higher)

8) Coffee may get expensive (as he duty exemption for coffee roasting, brewing, or vending machines is being removed)

9) Adult diapers (The exemption on hydrophilic and hydrophobic non-woven fabrics used to manufacture adult diapers is set to lapse in April 2026)