Budget 2022: Check What Will Cost You Now, Know Before Shopping

Budget 2022: Finance Minister Nirmala Sitharamn presented Budget 2022 yesterday in Lok Sabha and it observed a dip in the market. There are certain commodities that will become cheap and some will get costlier.

As Budget 2022 will come into effect prices will be revised across e-marketplaces and stores. In her speech Finance Minister said, “Electronic manufacturing has been growing rapidly and customs duty rates are being calibrated to provide a graded rate structure to facilitate local manufacturing of wearable devices, hearable devices, and electronic smart meters.”

Items That Will Become Costly

  • Solar Cells
  • Solar Modules
  • X-Ray Machines
  • Electronic Parts
  • Earphones
  • Speakers and Headphones
  • Umbrella
  • Smart Meters

Items That Will Get Cheaper After Budget 2022

  • Methyl Alcohol
  • Acetic Acid
  • Cut and Polished Diamonds
  • Gemstones
  • Camera Lens
  • Asafoetida
  • Cocoa Beans
  • Frozen Squids
  • Frozen Mussels
  • Clothes
  • Steel Scrap
  • Mobile Phone Chargers
  • Smart Wearables
  • Imitation Jewellery
  • Mobile Phones

The government has reduced custom duty which has caused lower prices of certain goods. The government under PLI Scheme is planning to robustly promote domestic manufacturing and has provided several benefits to the manufacturers. The economic growth is expected to be somewhere close to 9.2% which accounts better than many large economies. Only time will tell whether we have rainy days ahead of us or things will keep getting better.

The recent Covid surge has not pushed the economically backward and the government has successfully controlled the spread of the infection.

Also Read: Here’s How Income Tax Department Can Cause You Trouble

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