Union Budget 2020: Govt raises customs duties to boost Make in India | 10 things you need to know as consumers
New Delhi | Jagran Business Desk: The second full-fledged budget of the Modi government 2.0 was tabled in the Parliament on Saturday by Finance Minister Nirmala Sitharaman. The government announced about various measures to boost the economy, including a hike in the custom duty on a variety of products. As the government raised custom duty, a range of products will cost more. So, here are 10 things you need to know as a consumer:
* With an increase in custom duty, the imported baby food and toys will cost more. Now a can of Nestle Nan Pro will cost around Rs1,340.
* Footwear will also become expensive. With a hike in custom duty, a pair of Nike shoes will now cost Rs 9,749.
* The cost of mattress, sofa bed, LED lights and furniture will also go up with a rise in the custom duty. For instance, the imported IKEA mattress will now cost Rs 54,349.
* The cost of hair dryers, hair remove, clipper, shaver, smoothing irons and blowers will also go up. With a hike in custom duty, Wahl S Star Cordless Magic Clipper will now cost Rs 9,890.
* Having a healthy breakfast will also cost you more. Imported dairy products such as butter, ghee, cheese, edible oils and kitchen appliances such as toasters, tea, coffee makers will cost more after hike in custom duty.
* Imported duty on precious metal coins will also be increased from 10 per cent to 12.5 per cent and thus making wedding season more costly for you.
* Custom duty on imported cars and electric vehicles has also been increased and it will vary between 5 per cent to 15 per cent.
* The government has also tried to boost the India medical devices manufacturing sector with levy of health cess on imports.
* Cigarettes and tobacco products will also cost more with an increase on taxes. Now a packet of 20 Gold Flake Premium cigarettes will cost Rs 200.
* The kitchenwares will also become expensive after custom duty hike. Now a corelle dinner set will cost around Rs 5,500.
Posted By: Aalok Sensharma