Budget 2023-24: Know what gets cheaper & what becomes costlier

Union Finance Minister Nirmala Sitharaman on Wednesday presented the much-awaited last full-fledged budget of Modi 2.0 ahead of the 2024 General elections. 

Apart from income tax rebate, the Finance Minister’s budget speech outlined which items would get costlier and which would become cheaper.

Here’s a list of products that are all set to get cheaper or more expensive:

Things to get costlier:

1. Electric kitchen chimney

2. Cigarettes

3. Compounded rubber

4. Copper scrap

5. Silver articles

6. Gold and platinum articles

7. Imitation Jewellery

8. Electric vehicle imports

9. Imported bicycles and toys

Things to become cheaper:

1. Seeds used for diamond manufacturing

2. Domestic manufacture of shrimp

3. Acid-grade fluorspar

4. Denatured ethyl alcohol

5. Lithium-ion batteries

6. Parts of TV panels, LED TVs

7. Camera lenses for phones, laptops, and DSLRs.

8. Electric vehicles (EV), cycles, automobiles, and Biogas.

9. Reduction in customs duty on the import of certain inputs for mobile phone manufacturing

Meanwhile, the Economic Survey said India’s GDP is expected to grow in the range of 6 to 6.8 per cent in the financial year 2023-24.