Home >Budget 2019 >News >Budget 2020: Things that got cheaper and dearer

Finance Minister Nirmala Sitharaman today presented the Union Budget 2020, bringing major relief to individual taxpayers by slashing tax rates. A large number of items, including cigarettes, tobacco products, medical equipments will become more expensive due to hike in taxes. At the same time, items such as raw sugar, agro-animal based products, Tuna bait, skimmed milk, certain alcoholic beverages, soya fibre will bvecome cheaper. Here’s a look at the things that are set to become costly and those whose prices will see a drop

Costly

-FM raises excise duty on cigarettes, tobacco products.

-Customs duty on imported footwear and furniture increased.

-Health cess on import of medical equipment.

-Customs duty on wall fans increased from 7.5% to 20%.

-Customs duty on tableware/kitchenware made of porcelain or China ceramic, clay iron, steel, copper doubled to 20%.

Cheap

-FM halves customs duty on import of newsprint, light weight coated paper to 5%.

-Anti-dumpting duty on purified terephthalic acid (PTA) abolished.

-Customs duty exemption on raw sugar, agro-animal based products, Tuna bait, skimmed milk, certain alcoholic beverages, soya fibre, soya protein withdrawn.

Finance Minister Nirmala Sitharaman said this budget was aimed to boosting incomes and enhancing purchasing power, stressing that the economy’s fundamentals were strong and inflation was well contained.

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