What became cheap and what became expensive: From clothes and mobiles to diamonds became cheaper, buying an umbrella would be expensive


Posted on 1st Feb 2022 03:58 pm by rohit kumar

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.

1 Like 0 Dislike
Previous news Next news
Other news

'PM Modi has nothing to show except cursing Congress', Kharge told full form of NDA

Accusing Prime Minister Narendra Modi of tampering with the facts and making unrestrained comment

IND vs SA: Why is India now vulnerable against spin? Ravichandran Ashwin explains the key reason, saying, "This didn't happen suddenly..."

Many questions are being raised after India's Test cricket team's crushing defeat against South A

Apple New Launch: Apple launched iPhone SE, iPad Air, and Mac Studio, know what is special and how much is the price of these three

Apple New Product Launch: Apple launched iPhone SE, iPad Air, and Mac Studio in its virtual event

Manu Bhaker returned to India with two medals, received a grand welcome at Delhi airport with drums and trumpets

Women's shooter Manu Bhaker, who won the first medal for India in the Paris Olympics 2024, return

New Zealand Earthquake: Earth trembled in New Zealand after Turkey and Syria, magnitude of 6.1 on the Richter scale

New Zealand Earthquake: After Turkey and Syria, strong tremors of the earthquake have been felt i

The US Shooting: Firing again in America, two killed in firing outside the church; shooter also stacked

The incident of shooting has once again come to the fore in America. Two people were killed in a

BJP's protest in the espionage case for the second day: Many BJP workers in custody; CM Kejriwal's program canceled at AAP headquarters

After the Delhi MCD, the BJP on Thursday tried to corner the Aam Aadmi Party (AAP) in the espiona

Rahul Gandhi had gone to surround the government, former foreign minister of Congress Natwar Singh told wrong

A day after Congress leader Rahul Gandhi accused the Bharatiya Janata Party (BJP)-led central gov

One Nation One Election: 'One country-one election campaign is a means to postpone elections in five states, big claim of lawyer Prashant Bhushan

Well-known Supreme Court lawyer Prashant Bhushan has given a big statement regarding one country,

Indian students in Canada: Indian High Commission issued an advisory for students who were victims of fraud in Canada, gave this advice

The Indian High Commission in Ottawa has issued an advisory for students affected by the closure

Sign up to write
Sign up now if you have flare of writing..
Login   |   Register
Follow Us
Indyaspeak @ Facebook Indyaspeak @ Twitter Indyaspeak @ Pinterest RSS



Play Free Quiz and Win Cash