Budget 2025: What’s Cheaper, What’s Costlier? A Detailed Breakdown of Price Changes

Union Finance Minister Nirmala Sitharaman announces tax adjustments, affecting everyday essentials and luxury items.

February 1, 2025: New Delhi: Union Finance Minister Nirmala Sitharaman unveiled the Union Budget 2025-26 on Saturday, emphasizing India’s roadmap for economic growth with a focus on agriculture, MSMEs, investment, and exports. The Budget outlined a vision for a ‘Viksit Bharat’ (Developed India), with changes in customs duties impacting the prices of various goods.

Also Read: Budget 2025: No Tax on Income up to ₹4 Lakh, Revised Slabs for Middle-Class Relief

Here’s a breakdown of what gets cheaper and what becomes costlier following the Budget announcements:

Also Read: Budget 2025: No Tax on Income up to ₹4 Lakh, Revised Slabs for Middle-Class Relief

What’s Cheaper?

1. Technology & Raw Materials:
   • Carrier-grade internet switches.
   • Scrap of lithium-ion batteries, cobalt products, and 12 other critical minerals.
2. Health & Pharmaceuticals:
   • 36 life-saving medicines exempted from basic customs duty.
3. Marine & Leather Products:
   • Frozen fish and fish paste (Surimi) – customs duty reduced from 30% to 5%.
   • Leather belts, shoes, and jackets.
   • Marine products.
4. Shipping Sector:
   • Raw materials for manufacturing ships exempted from customs duty for an additional 10 years.
5. Essentials & Lifestyle:
   • Synthetic flavoring essences.

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What’s Costlier?

1. Electronics:
   • Interactive flat panel displays.
2. Textiles:
   • Knitted fabrics.

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Key Highlights:

• Customs duty exemptions on life-saving drugs reaffirm the government’s commitment to public health.
• Reduced duties on critical minerals aim to support India’s green energy and electronics manufacturing ambitions.
• Changes in marine product and leather goods duties are expected to boost exports from these sectors.

The Budget reflects a balanced approach, promoting growth in key sectors while ensuring affordability in crucial areas like health and infrastructure.

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Tags:

Union Budget 2025, Nirmala Sitharaman, Price Changes, Cheaper Goods, Costlier Goods, Customs Duty, Economic Growth, Green Energy, Public Health.