India's Finance Minister Nirmala Sitharaman on Saturday announced the Union Budget 2025 in the Lok Sabha. It was the Modi Government's first full-fledged budget that was presented in their third term. While the Finance Minister made a plethora of announcements in agriculture, infrastructure, health, and education, it was income tax relief of up to Rs 12 lakh that grabbed everyone's attention. As the Budget 2025 has been announced, the question what are the things that will become cheaper and what will be costlier? Below is everything you need to know-
Items that became cheaper after Budget 2025
- Mobile phones: 28 additional goods for mobile phone battery production to come in the list of exempted capital goods.
- 36 Lifesaving drugs and medicines to be added to the list of medicines fully exempted from Basic Customs Duty.
- EV batteries
- Wet Blue leather
- Carrier-grade ethernet switches
- 12 Critical minerals
- Open cell
- LED/LCD
- Medical equipment
- Basic Customs Duty exempted on raw materials for manufacturing ships for another 10 years.
- Marine products
- Cobalt products
- Zinc, lithium-ion battery scrap
Items that became costlier in Budget 2025
- Flat panel display- BCD increased from 10% to 20%, impacting TVs and mobile phones.
- Knitted Fabrics
Union Finance Minister Nirmala Sitharaman while presenting the Budget 2025 said, "To promote domestic production of technical textile products such as agro-textiles, medical textiles and geo-textiles at competitive prices, I propose to add two more types of shuttle-less looms to the list of fully exempted textile machinery. I also propose to revise the BCD rate on knitted fabrics covered by nine tariff lines from 10% or 20% to 20% or Rs. 115 per kg, whichever is higher..."