Budget 2023: What gets cheaper, what gets costlier. Full list

Here’s a full list of items that got cheaper and items that will now cost more, with the announcement of the Union Budget 2023.

Budget 2023 – What gets cheaper, what gets costlier (Photo: India Today)

By India Today Web Desk: Finance Minister Nirmala Sitharaman on Wednesday presented Budget 2023 and announced changes in certain duties and taxes, resulting in some items getting cheaper and some getting costlier.

Sitharaman today presented her fifth full Budget after she took over as the finance minister in July 2019.

Here’s a list of items that have gotten cheaper and those that have gotten more expensive.

BUDGET 2023 – WHAT GETS CHEAPER

• Customs duty on parts of open cells TV panels cut to 2.5 percent
• Govt proposes to reduce customs duty on the import of certain inputs mobile phone manufacturing
• Govt to reduce basic customs duty on seeds used in manufacturing of lab-grown diamonds
• Govt to reduce customs duty on shrimp feed to promote exports

BUDGET 2023 – WHAT GETS COSTLY

• Taxes on cigarettes hiked by 16 percent
• Basic import duty compounded rubber increased to 25 percent from 10 percent
• Basic customs duty hiked on articles made from gold bars
• Customs duty on kitchen electric chimney increased to 15 percent from 7.5 percent

This year’s Budget holds much significance as the country is scheduled to have the next Lok Sabha election in April-May 2024.

Before presenting the Union Budget 2023-24, Sitharaman on Wednesday called on President Droupadi Murmu.

As per established tradition, the finance minister met the President at the Rashtrapati Bhawan before heading to Parliament.