Whil🌄e presenting the Union Budget at the Lok Sabha for the financial year 2025-2026 on Saturday, Union Finance Minister Nirmala brought a major relief to the Indian middle-class people as she exempted annual income of up to rupees 12 lak🔯h from income tax and revised the tax slabs as well in a bid to leave more money on people's hands.
Budget 2025: EVs, Medicines, Electronics, Knitted Fabrics | Details Of Cheaper And Costlier Goods
The FY26 Union Budget introduced signifiꦑcant changes in customs duties across multiple sectors. Here we have a list of what is getting cheaper and costlier this year after the presentation of the budget.
The FY🔴26 Union Budget also introduced significant changes in customs duties across multiple sectors. A reduction in customs duties on gold and silver to 6 per cent and that of platinum to 6.🦹4 per cent has also been announced. The Finance Minister had also proposed to remove basic customs duty (BCD) on ferronickel and blister copper.
He🐼re we have a list of what is getting cheaper and costlier this year after the🌺 presentation of the budget.
List Of Things Getting Cheaper
Cancer, chronic diseases medicines:﷽ 36 life-saving drugs😼 fully exempted from basic custom duties.
Electronic goods: The FM announced reduction of BCD (basic customs duty) to 5 percent for open cells and other components. 35 additional goods for EV battery manufacturing, and 28 additional goods for mobile phone batt♋ery manufacturing to be addꦏed to list of exempted capital goods
🅘Cobalt powder and waste, scrap of lithium-ion batte♋ry, lead, Zinc and 12 more critical minerals exempted from Basic Customs Duty (BCD).
Marine: BCD on frozen fish paste will be reduced꧒ from 30 percent to 5 percnt; Reduced duties from 15-5 percent on Fish Hydrolysate
Electronic Vehicles: 35 additional goods for EV battery manufacturing, and 28 additional goodsꦬ for mobile phone battery manufacturing to be added to list of exempted capital goods
Leather & textiles: Exemption on BCD on wet blue leather and crust leather. New mis🍬sion has been announc🦂ed to increase cotton productivity
Telecom: BCD has been slashed from 2🦩0 percent to 10 percent on Carrier Grade Ethernet switches to make it at par with non-Carrier Grade Ethernet switches.
List Of Things Getting Costlier
Flat Panel Displays: BCD increased from 10 percent to 20 perce🌸nt, impacting TVs⛎ and mobile phones.
Social Welfare Surcharge: Exemption removed on 82 tariff lines curre༒ntly under cess.
Knitted fabrics: Customs duty hiked from 10 to 20 per cent
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