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Budget 2020 impact on prices: Here’s what’s costlier and what’s cheaper
As Budget 2020 has been announced, here’s a list of items that got cheaper and which got costlier this year
What’s getting cheaper and what’s getting costlier? It has been a perennial question every time the budget is out. After it is something the aam aadmi is more concerned about. And with BJP-led NDA government announcing its second budget today, all eyes have been on Finance Minister Nirmala Sitharaman who announced the new budget for 2020-2021. In this GST era, the prices of everyday items are likely to see upward or downward movement. It has been a challenge for Sitharaman to strengthen the twin engines of economic growth - consumption and investment - and she is likely to be judged on the choices she made for the budget.
Meanwhile, given the increased cost of living, expectations were running high for budget 2020. Needless to say, the government will be taking substantial steps to address the current economic slowdown along with making the janta friendly budget. Nirmala Sitharaman’s second budget proposed a number of changes to levies of several products. Adding to the woes of the common man is the rise in additional customs duty on certain products. Here is a list of items that got costlier and what got cheaper during the recently introduced budget:
COSTLIER:
Imported footwear, furniture, imported medical equipment, tobacco products and cigarettes, automobile spare parts, catalytic converters/some electrical products, kitchenware, tableware and glassware products, wall fans, gold, cashew, air conditioner and refrigerator, food processing items, toys, electrical equipment, stationery items, mobile phones
CHEAPER:
Import of newsprint, lightweight coated paper, raw sugar, agro-animal based products like skimmed milk, tuna bait, soya fibre, soya protein, microphone and parts
