Finance Minister Nirmala Sitharaman presented the General Budget 2022-23 amid the third wave of the Corona epidemic. In this budget, the government has emphasized making the country self-reliant in the field of electronics. Import duty has been increased on some products in the budget, due to which these products have become expensive. The government has also reduced import duty on some products.
In such a situation, there will be a question in your mind that how much effect will this budget have on your pocket? So let's know what was expensive and what became cheap in the budget?
The mobile phone will be cheaper, the imported umbrella will be expensive
The Finance Minister has announced concession in custom duty to promote domestic manufacturing of mobile phone chargers, mobile phone camera lenses, transformers. Due to the cheapness of mobile parts, mobiles are also expected to be cheap.
To give a boost to the jewelery industry, the government has reduced the customs duty on gems with cut and polished diamonds to 5%. At the same time, there will be no custom duty on Simply Sond Diamond. Talking about the things getting expensive, the government has increased the duty on umbrellas to 20%. That is, imported umbrellas will become expensive.
The budget does not affect many products
There aren't many things that have an impact. Now the GST decides the price of 90% of the things, but the effect of import duty remains on the goods imported from abroad and it is announced in the budget. Therefore, budget announcements affect the prices of things like petrol, diesel, LPG, CNG, imported products like liquor, leather, gold, and silver, electronic products, mobiles, chemicals, vehicles. The government increases or decreases the import duty on these only. Excise is also imposed on some.
What is Import Duty?
Import duty is a tax that is levied on goods imported from another country. How much import duty will be charged, depends on the price of the goods as well as which country the goods belong to, as well as many other things.
Import duty is also called customs duty, tariff, import tax, or import tariff. Import duty has two purposes - to generate income for the government and to make locally produced goods profitable in the market.
Gold Silver Price Today: Amidst Russia-Ukraine conflict, gold crosses 51 thousand, silver at 66 thousand level, know the latest price
Tensions between Russia and Ukraine and the price of precious metals caught fire soon after Russian President Vladimir Putin announced military action. If you are planning to buy jewellery, then first
Sushil Modi: Joined RSS at the age of 16; When JP jumped into the movement, he remained in jail for 19 months, and read the budget of Bihar 11 times.
Veteran Bharatiya Janata Party leader Sushil Modi, who remained the prominent face of Bihar politics for five decades, is no more. On the 3rd of last month, he announced his retirement from active
Instagram Down: The services of Instagram, Facebook, and Messenger of Meta came to a standstill, the company said this
The services of the Meta-owned social media platform were suspended for the second time in a week. However, the company has fixed it. Meta said that the company has fixed an issue that was preventing
Petrol Diesel Price: Oil companies have released the prices of petrol and diesel, know how much are the prices in your city
Oil companies have released the prices of petrol and diesel for today. Today companies have not made any change in oil prices. Recently, the government announced to reduce the prices of petrol and
Reliance Retail: Reliance Retail will sell sweets, eyes on the market of 50000 crores, sale starts at 50 stores
Reliance retail stores will now sell sweets as well. The company's eyes are on the unorganized sweet market worth Rs 50,000 crore. It has started selling sweets at more than 50 of its stores. Packed
China On Covid-19 Deaths: China claims – no new deaths occurred after changing the criteria
China said on Wednesday that not a single person died of COVID-19 the previous day, after changing the criteria for recording deaths from the virus which means it is no longer counted.
China COVID Outbreak: Omicron's BA.5.2 and BF.7 sub-variants wreaking havoc in China: WHO
The World Health Organization (WHO) informed on Wednesday that according to data released by China, people in China are getting infected only by Omicron's sub-variants BA.5.2 and BF.7. According to
Not out even after getting caught: Bishnoi took a wonderful catch, but the foot was touched on the boundary
Team India won the first T20 match between India and West Indies by 6 wickets. India had a target of 158 runs in the match, which the team achieved by losing 4 wickets before 7 balls. Captain Rohit
Musk's Twitter: 'Elon Buy Twitter' coin launched as soon as the deal is sealed, price increased by 7000% in no time
The world's richest person has taken over the control of the microblogging platform Twitter. The deal was sealed late on Monday night. While Twitter's shares climbed in the global markets regarding
US: Will India-America come together to compete with China in space? White House said – cannot give much information
Prime Minister Narendra Modi will be on a US tour from June 21. This tour is being given a lot of importance in terms of relations between the two countries. Now the White House has told which issues