Finance Minister Nirmala Sitharaman on Tuesday presented the Union Budget for the financial year 2022-23, beginning April 1. In her shortest budget speech of one hour and 30 minutes, she announced several changes in customs duty which will result in the raise or fall in the prices of some essential commodities.
As per the proposals made by the finance minister in the Union Budget for 2022-23, many commonly used items, including electronic items like mobile phones and chargers, are going to be cheaper.
The FM has announced reduction in the import duty on certain chemicals while customs duty on cut and polished diamonds, gems has been reduced to 5 per cent.
Here's is a list of items that will become cheaper and costlier:
Gem stones and diamonds
All imported items
Duty on umbrellas increased