Budget 2020 Cheaper and Dearer List 2020

Budget 2020 Cheaper and Dearer

Budget 2020 Cheaper and Dearer List 2020
Budget 2020 Cheaper and Dearer List 2020
Budget 2020 Cheaper and Dearer List 2020

Budget 2020 Cheaper and Dearer List 2020

Finance Minister Nirmala Sitharaman presented the second budget of the Modi government's second term in the Lok Sabha (Budget 2020). He has made several big announcements in the budget about Technology and Digital India, which has been said to promote mobile production, although the surprising thing is that on one hand the government has talked about promoting mobile manufacturing but at the same time mobile Made it too expensive. Let us know what will be cheap and expensive from this budget 2020.

Budget 2020: What became expensive

After this budget, from mobile phones to petrol-diesel, gold, cashew, auto parts, synthetic rubber, PVC, tiles will be expensive. Apart from this, tobacco products are also estimated to be expensive. Slippers and shoes will also be expensive. Medical devices and cigarettes coming from outside will also be expensive. Fans and stationery are also going to suffer inflation. Custom duty on fans has been increased from 10% to 20%.

On the other hand, raw sugar, agro-animal products, tuna bait, skimmed milk, select alcohol breweries, soy fiber will be cheaper. Let us know what will be cheap and what will be expensive in this budget.

These things will be expensive in the budget 2020

  1. The Finance Minister has increased excise duty on cigarette and tobacco products.
  2. Increased custom duty on imported footwear and furniture.
  3. Health cess has been increased on the import of medical equipment.
  4. Custom duty on wall fans has been increased from 7.5 per cent to 20 per cent.
  5. Custom duty on Chinese clay tableware / kitchenwear or china ceramic, iron clay, steel, copper has been increased to 20 per cent.
  6. AC-refrigerator compressors will be 10% to 12% more expensive.
  7. Mobile phones will be expensive.
  8. Custom duty on commercial vehicles will increase from 30% to 40%.
  9. Custom duty on commercial electric vehicles has been increased from 25% to 40%.
  10. Stationary items such as clips, staples will be 10 to 20 percent more expensive.
  11. Toys will be expensive.

What happened cheaper in the budget 2020

  • Newsprint, the finance minister has reduced the custom duty on light-weight coated paper to 5 percent.
  • Anti-dumping duty on purified terrapathic acid has been lifted.
  • Custom duty on raw sugar, agro-animal based product, tuna bet, skimmed milk, select alcohol breweries, soy fiber, soy protein has been relieved.

Finance Minister Nirmala Sitharaman on Saturday introduced a new alternative personal income tax system to simplify tax laws while giving relief to taxpayers. Under the alternative arrangement, many discounts and deductions will not be available. The new structure has cut rates for taxpayers of different income groups and created some new slabs.