Budget 2019: Here's The Full List Of What Got Costly and What Got Cheap! How is Prime Minister Narendra Modi's new budget affecting our pockets? Here's a compiled list, know what got costlier and what got cheap
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
After the sweeping victory, the first Union Budget (Bahi-Khata) of Prime Minister Narendra Modi's government is out and it has something or the other for everyone. Like any other budget, this one has its highs and lows. While there is a sign of relief for some, there are few who also feel the budget could have been better.
The budget focuses to boost its investment and the government's core focus will be on the social sector and its advancement. Finance Minister Nirmala Sitharaman on Friday presented Union Budget 2019 in Parliament. She announced how the government plans to sell India's first global sovereign bonds. This will help revive economic growth and simplify rules for overseas investors.
PM Narendra Modi has termed this as a "green budget", while the opposition had a different point of view and said that it was old wine in a new bottle.
Coming to things that directly concern us, there is an increase in the import duty on Gold, which means the yellow metal will be an expensive buy. The excise duty on petrol and diesel has increased which means the price of fuel might hike as well.
Cigarettes, Split air conditioners, cigarettes and more will become expensive due to a hike in taxes. At the same time, mobile and set-top boxes price will drop. This definitely is stress and both relief on our pockets.
Entrepreneur India has compiled a list of items that are going to get expensive and will get cheaper after the Union Budget for the year 2019-20 comes into effect.
Budget 2019: Here's what will get costly
- Petrol
- Diesel
- Cash withdrawal over Rs. 1 crore/year
- Cigarettes, hookah, and chewing tobacco
- Imported stainless steel products
- Imported gold and precious metals
- Imported auto parts
- Imported paper and paper products including printed books
- Imported loud-speakers, the indoor and outdoor unit of split AC
- Imported plugs, sockets, switches
- Fully-imported cars
- Split air-conditioners
- CCTV cameras, IP cameras, digital video recorders
- Loudspeakers
- Optical fibre
- PVC
- Ceramic tiles and wall tiles
- Mountings for furniture
- Vinyl flooring
- Metal fittings
- Marble slabs
- Imported cashew kernels
- Raw materials for the manufacture of soap
Budget 2019: Here's what will get cheap
- Electric vehicles
- Camera module and charger of mobile phones
- The imported raw material for the manufacture of artificial kidneys
- Imported wool fibre, wool tops
- Set-top boxes
- Imported defence equipment
- Affordable houses
- Imported parts of electric vehicles
The BJP is hailing the budget as "new India", while Congress calls it "maximum intent" and "minimum content".
Criticising the budget, Congress's chief spokesperson Randeep Surjewala wrote on Twitter: "#Budget2019 so far -- Maximum Intent, Minimum Content! Maximum Catchphrases, Minimum Catch-points!"
On a microblog, Abhishek Manu Singhvi, Congress spokesperson, wrote, "Bailout plans for PSUs & moves like inheritance tax are Modi's outing from the closet as the ultra-left, vote-seeking politician that he is. He got RWs (economic & political) to vote for him but his heart is only toward RW (right-wing) Polity, not Economics."
The budget was presented with a 10-year vision in mind and Union Home Minister Amit Shah said this budget is all about laying the foundation of a progressive nation.
