New Delhi | Jagran Business Desk: Finance Minister Nirmala Sitharaman on Monday announced the Union Budget for FY2021-22 amind high hopes from different sectors and industries, which incurred huge losses due to the coronavirus pandemic and lockdowns to curb its spread. Presenting the Budget, Nirmala Sitharaman announced a sharp rise in capital expenditure for 2021-22 to Rs 5.54 lakh crore, from Rs 4.39 lakh crore in 2020-21.
In Budget 2021, Sitharaman announced that the government would rationalise the customs duty on gold and silver in order to bring down the high prices. She also said customs duties on certain auto parts, solar equipment, cotton and raw silk have been raised. On the other hand, the finance minister said customs duty on naphtha has been cut to 2.5 per cent, while exempting duty on steel scrap up to March 2022. She also proposed an infrastructure development cess on certain goods. However, the Income Tax slabs remain unchanged in the Budget providing no relief to the middle class or the common man.
So, as the Budget 2021 was announced, here is the list of things that got cheaper and costlier:
Things that got cheaper:
Nylon fibre and yarn
Iron and Steel melting scrap
Primary/Semi-finished products of non-alloy steel
Raw materials used in the manufacture of CRGO Steel
Components for the manufacture of aircraft by Public Sector Units of Ministry of Defence
Waste and Scrap of Precious Metals
Husbandry Feed additives or pre-mixes
Things that got costlier:
Flours, meals and pellets of fish, crustaceans, molluscs or other aquatic invertebrates
Synthetic Cut and Polished Stones
Specified auto parts like ignition wiring sets, safety glass, parts of signaling equipment, etc.
Specified parts of mobile phones, including, Printed Circuit Board Assembly (PCBA), Camera module, Connectors and plastic for the manufacture of charger or adapter
The compressor of Refrigerator/Air Conditioner
Inputs and parts of LED lights or fixtures including LED
Posted By: Talibuddin Khan