Union budget 2025: what gets cheaper and what gets dearer - the statesman

Union Finance Minister Nirmala Sitharaman on Saturday presented her eighth budget, and announced several key announcements, including the much-needed relief for middle class by increasing

the income tax limit. While announcing a new income tax bill next week, she said there will be no income tax on income up to Rs 12 lakh. Advertisement Besides, the minister also announced

that 36 new life saving drugs will be fully exempted from basic customs duty, giving much-needed relief to cancer and other chronic disease patients. Advertisement With new budgetary

announcements, several goods and services went cheaper, while some items will burn a bigger hole in the pocket of the middle class. Below is the list of items that went cheaper and dearer

after Union Budget 2025 WHAT WILL BE CHEAPER: EV BATTERIES: The government has announced that 35 new goods used in EV battery production have been included in the list of exempted capital

goods. MOBILE PHONES: As many as 28 new goods for mobile phone battery production have also been included in the list of exempted capital goods. MEDICINES: Sitharaman announced that 36 life

saving drugs will be fully exempted from Basic Customs Duty. The BCD was also removed on 37 more medicines. RAW MATERIALS: Cobalt products, LED, zinc, lithium-ion battery scrap, and 12

critical minerals will be fully exempted from basic customs duty. SHIPBUILDING: The government has extended the exemption on raw materials for manufacturing ships for another 10 years.

LEATHER PRODUCTS: Wet blue leather was fully exempted from Basic Customs Duty. GOLD, SILVER & PLATINUM: The government announced customs duty on gold, silver have been reduced to 6 per

cent, and platinum to 6.4 per cent. Solar panels: Customs duty on several items used in manufacturing has been reduced. WHAT WILL BE DEARER: INTERACTIVE FLAT PANEL DISPLAYS: In order to

address the inverted duty structure, the government increased the Basic Customs Duty on interactive flat panel to 20 per cent from 10 per cent. TELECOM EQUIPMENT: Customs duty on telecom

equipment hiked from 10 to 15 per cent AMMONIUM NITRATE: Customs duty hiked from 7.5 per cent to 10 per cent PLASTIC AND RELATED GOODS: Plastic products and other related goods are set to

get costlier after the government increased customs duty. Advertisement