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News18 » Business
1-min read

Budget 2020: Footwear, Tobacco Among Items To Get Costlier, Milk & Chemicals Get Cheaper. See Full List

Sitharaman’s second budget was broadly categorised into three major themes - aspirational India, economic development and building a caring society that is humane.

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Updated:February 1, 2020, 11:17 PM IST
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Budget 2020: Footwear, Tobacco Among Items To Get Costlier, Milk & Chemicals Get Cheaper. See Full List
Finance Minister Nirmala Sitharaman with the budget 2020 papers outside Parliament on Saturday. (Reuters)

Presenting the Union Budget 2020, Finance Minister Nirmala Sitharaman said it is meant to boost the income and spending power of people.

Sitharaman’s second budget was broadly categorised into three major themes - aspirational India, economic development and building a caring society that is humane.

A common man looks for what gets cheaper and for what they will have to pay more after the budget.

Here’s a look at things that will get costlier

-Cigarettes and other tobacco products: Prices of cigarettes and other tobacco products have been increased. Sitharaman has raised excise duty on these products by way of National Calamity Contingent Duty.

-Footwear: Price of footwear will be increased as Budget 2020 has raised customs duty on them.

-Furniture: People buying furniture will have to shell out more from now on.

-Medical equipment: Imports of medical equipment have been increased in Union Budget 2020. The finance minister introduced “a nominal health cess, by way of a duty of customs, on the imports of medical equipment”.

-Fans, tableware, kitchenware: Customs duty on imported wall fans, tableware and kitchenware have been increased. Come April 1, porcelain or China ceramic, iron, steel and copper will become dearer.

-Auto parts, chemicals: Customs duty on certain goods like auto-parts and chemicals has gone up.

What’s cheaper now

-Import of newsprint and lightweight coated paper: Customs duties on certain inputs and raw materials have been brought down. The FM proposed reduction of basic customs duty on import of news print and light-weight coated paper from 10 per cent to 5 per cent.

-Purified Terephthalic Acid: The anti-dumping duty on purified terephthalic acid has been abolished. The acid is used in the manufacture of high-performance plastics.

-Fuse, chemicals, plastics: The Budget 2020 has lowered customs duty on certain inputs and raw materials like fuse, chemicals, and plastics.

-The Budget makes raw sugar, agro-animal based products, tuna bait, skimmed milk, certain alcoholic beverages, soya fibre and soya protein cheaper.

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