New Delhi | Jagran Business Desk: Finance Minister Nirmala Sitharaman on Saturday presented the Union Budget 2020, bringing major relief to individual taxpayers by slashing tax rates by a big margin. 

The common man is more concerned about the income tax slabs and the revised rates of daily-use and household items as it directly impacts his pocket. 

Sitharaman announced increasing customs duty on imported footwear and furniture. The finance minister also imposed health cess on import of medical equipment.

She proposed to cut the import duty on newsprint to five per cent. The government in the last budget had imposed 10 per cent basic custom duty on newsprint and lightweight coated paper.

Here's what got cheaper and what costlier in the Union Budget 2020 of Modi Government 2.0: 

Costlier

  • Medical equipment
  • Footwear 
  • Furniture
  • Cigarettes, tobacco products
  • Tableware/kitchenware made of porcelain or China ceramic
  • Clay iron 
  • Steel
  • Copper
  • Catalytic converters
  • Parts of commercial vehicles, other than EVs
  • Skimmed milk
  • Soya fibre
  • Soya protein
  • Agro-animal based products
  • Certain alcoholic beverages
Cheaper
  • Customs duty on import of newsprint, light weight coated paper to 5 per cent
  • Purified terephthalic acid (PTA)
  • Fuse
  • Chemicals
  • Plastic

Posted By: Abhinav Gupta