Budget 2022: What will be cheap and what's pricier??
Budget 2022: What will be cheap and what's pricier??
In the budget of the Modi government (Budget-2022), Finance minister Nirmala Sitharaman has made some big announcements. In this, priority has been given to all issues including farmers to unemployed, development, education, and defense. At the same time, the Finance minister has made changes in the Customs Duty. In such a situation, now the question in the minds of people - which things will be cheap and which will be expensive in the country.
Cheaper: The common man who buys jewelry has got a big relief because the announcement of cheap jewelry has also been made by the Finance Minister. On the other hand, the import of raw diamonds is tax-free, to increase export, there has been a duty of 400 / kg on imitation jewelry. According to the budget, leather, cloth, agricultural goods, packaging boxes, mobile phone chargers, and gems and jewelry will be cheaper. Apart from this, the exemption of customs duty on steel scrap has been extended for one year to help MSMEs. Custom duty on methanol has also been reduced. Customs duty has been exempted on mobile phone chargers, transformers, etc., to encourage domestic manufacturing.The fire of inflation in these things:On the other hand, if we talk about expensive things according to the budget, then 7.5% import duty has been imposed on capital goods, eliminating the exemption in import duty. At the same time, custom duty on imitation jewelry was increased so that its import could be reduced. At the same time, from october this year, non-blending fuel will attract excise duty at the rate of Rs 2 per liter.
In the budget of the Modi government (Budget-2022), Finance minister Nirmala Sitharaman has made some big announcements. In this, priority has been given to all issues including farmers to unemployed, development, education, and defense. At the same time, the Finance minister has made changes in the Customs Duty. In such a situation, now the question in the minds of people - which things will be cheap and which will be expensive in the country.
Cheaper: The common man who buys jewelry has got a big relief because the announcement of cheap jewelry has also been made by the Finance Minister. On the other hand, the import of raw diamonds is tax-free, to increase export, there has been a duty of 400 / kg on imitation jewelry. According to the budget, leather, cloth, agricultural goods, packaging boxes, mobile phone chargers, and gems and jewelry will be cheaper. Apart from this, the exemption of customs duty on steel scrap has been extended for one year to help MSMEs. Custom duty on methanol has also been reduced. Customs duty has been exempted on mobile phone chargers, transformers, etc., to encourage domestic manufacturing.The fire of inflation in these things:On the other hand, if we talk about expensive things according to the budget, then 7.5% import duty has been imposed on capital goods, eliminating the exemption in import duty. At the same time, custom duty on imitation jewelry was increased so that its import could be reduced. At the same time, from october this year, non-blending fuel will attract excise duty at the rate of Rs 2 per liter.