Union Budget 2021-22: What Got Cheaper & What Got Costlier?- Check Full List Here
Union Budget 2021-22: Know what got costlier and what got cheaper post the Budget Speech 2021-22. Know how Budget 2021 impacts the pocket of common man.
Finance Minister Nirmala Sitharaman presented her third Budget in the parliament on February 1, 2021. The Union Budget 2021-22, touted as the most important budget in the decades, came at a time when India is reeling under the COVID-19 crisis. The Budget 2021 could be a ‘game changer’ that may pave way for revival of the Indian economy.
Union Budget 2021-22 lays down the vision for Atmanirbhar Bharat or Self reliant India. From the launch of new schemes including Aatmanirbhar Swasth Bharat Yojana, Mission Poshan 3.0, Voluntary Vehicle Scrapping Policy to the allocations for health and wellbeing, agriculture, infrastructure and other sectors, the Budget highlights Government's ambition to make India a USD 5 trillion economy.
In context of Taxation Reforms, FM Sitharaman made no announcement for change in the Income Tax Slabs or exemptions in the Union Budget 2021-22. However, the Budget 2021 exempts senior citizens of 75 years & above from filing the Income Tax Return (ITR).
What becomes Costlier & Cheaper Post Union Budget 2021-22?
The Union Budget directly impacts the pocket and expenses. While the common man is more keen to know the new income tax slabs, many are worried about what gets costlier, what gets cheaper and the revised rates of items of daily use.
Though there are a large number of items that might become expensive, there are a certain things that will become cheaper at the same time. Have a look:
What got costlier?
- Petrol & Diesel: Agriculture Infrastructure & Development Cess (AIDC) of Rs 2.5 per litre & Rs 4 per litre to be imposed respectively
- Electronic items
- Mobile Phones
- Crude palm oil, soyabean & sunflower oil
- Apples, Peas, Kabuli Chana, Bengal Gram/Chick peas, Lentil
-Raw Silk and silk yarn
-Denatured ethyl alcohol for manufacture of excisable goods
-Flours, meals & pellets of fish, molluscs
-Leather, crust leather, finished leather of all kinds
-Tunnel Boring Machines
-Metal products - Screws, Nuts
-Compressor of Refrigerator & Air Conditioner
-Inputs and parts of LED lights
-Solar Inverters, lanterns or lamps
What got cheaper?
-Iron and Steel melting scrap
-Primary/Semi-finished products of non-alloy steel
-Components or parts for aircraft manufacture by PSUs for Ministry of Defence
-Waste & Scrap of Precious Metals
-Gold and silver
Stay tuned to know the items that will become costlier and cheaper post Union Budget 2021-22.