Union Budget 2024 – List Of Costlier And Cheaper Items: The Union Finance Minister Nirmala Sitharaman presented the interim budget on Thursday (February 1). It is worth noting that this is the last session that was presented before the Lok Sabha elections, which is expected to be conducted in April-May this year. This is the sixth time that Sitharaman presented the Budget. Notably, this is the interim budget which means that it will take care of the financial needs until a new government is formed after the Lok Sabha elections. However, all eyes of the people will be on what will become cheaper and what will become costlier, specially the home appliance such as television, refrigerator, mobile phones, washing machines, etc.
Union Budget 2024: Glimpse Of Earlier Budget
As the Modi-Government prepares for the upcoming Lok Sabha election, the central government is expected to reduce prices of home appliances and electronic products, such refrigerators, washing machines, mobile phones etc, to woo voters.
Every year, economists, industries and the common men track Budget announcements closely to gauge their possible impact on the prices of goods and services.
As the Central Government is focusing more on Nari Shakti and youths which was also reflected in the recent Republic Day parade. Several women centric schemes are apt example that the central government is focusing empowering the women of the country.
Here’s A Timeline Of What Got Cheaper And Expensive In Recent Year
Budget 2014-15: What Got Cheaper And What Became Costlier?
Cheaper: Mobiles, computers, LCD TVs, diamonds, footwear
Costlier: Cigarettes, Radio taxis, imported electronic items, imported garments,
2015-16: What Got Cheaper And What Costlier?
Cheaper: Minerals such as bituminous coal, ulexite ore. Chemicals such as liquefied butane and butyl acrylate, solar water heater systems, wind power generators, modules for smart cards, agarbattis, pacemakers, ambulances.
Costlier: Iced tea, mineral water, aerated drinks, condensed milk, peanut butter, bags, cut tobacco, import of CBUs for CVs, eating out, cigarettes, cement, business class travel, ATM, demand draft and loan processing.
2016-17: What Got Cheaper And What Costlier?
Cheaper: Footwear, solar lamps, broadband modems, set top boxes, digital video recorders, CCTV cameras, hybrid EVs, affordable homes, pension plans, microwave ovens.
Costlier: Cars, cigarettes, cigar, tobacco, beedis, gutkha, bill payment service, eating out, air travel, readymade garments, gold, silver, mineral water, aerated water containing added sugar, goods and services above Rs 2 lakh in cash, aluminum foil, air travel, plastic bags and sacks, legal services, lottery tickets, e-reading devices, > imported golf cars
2017-18: What Got Cheaper And What Costlier?
Cheaper: LED lamps, solar panels, printed circuit boards for mobiles, micro ATMs, finger-print machines, import of fuel cell-based power generating systems, iris, rail travel, import of solar tempered glass.
Costlier: Silver coins, cigarettes, tobacco, bidis, pan masala, goods imported through parcels, water filter membranes, mobile phones, domestically-assembled LED lights, import of cashew nuts.
2018-19: What Got Cheaper And What Costlier?
Cheaper: Raw cashew nuts, solar tempered glass, cochlear implant raw material, parts or accessories, ball screws, linear motion guides.
Costlier: Cars, motorcycles, mobile phones, gold, silver, vegetable and fruit juices, sunglasses, perfumes, toilet waters, preparations for oral dental hygiene and denture fixative, truck and bus radial tyres, footwear, diamonds, imitation jewellery, mattresses, lamps, wrist watches, video game consoles, kites.
2019-20: What Got Cheaper And What Costlier?
Cheaper: Affordable houses, set top boxes, imported defence equipment, imported parts of EVs, camera modules, mobile phone chargers, imported raw material for making artificial kidneys, imported wool fiber.
Costlier: Petrol, diesel, cash withdrawal over Rs 1 crore a year, fully-imported cars, split ACs, cigarettes, hookah and chewing tobacco products, imported auto parts, imported stainless steel products, imported gold and other precious metals, imported paper and paper products including printed books, imported plugs, sockets and switches, CTV cameras.
2020-21: What Got Cheaper And What Costlier?
Cheaper: Raw sugar, skimmed milk, soya fibre, soya protein, certain alcoholic beverages, agro-animal based products, import of newsprint, lightweight and coated paper, purified terephthalic acid.
Costlier: Medical equipment, footwear, furniture, wall fans, cigarettes and other tobacco products, tableware/kitchenware made of porcelain, clay iron, steel, copper, CV parts.
2021-22: What Got Cheaper And What Costlier?
Cheaper: Gold, silver, leather products, nylon clothes, products made of iron, steel and copper
Costlier: Solar cells, mobile phones and chargers, imported gems and precious stones, imported AC and fridge compressors, imported auto parts
2022-23: What Got Cheaper And What Costlier?
Cheaper: Imitation jewellery, computers, laptops, mobile phones, certain chemicals needed for petroleum refining, cut and polished diamonds, gems
Costlier: Umbrellas, imported items, unblended fuel, chocolates, smartwatches and their earbuds, umbrellas
2023-24: What Got Cheaper And What Costlier?
Cheaper: TVs, smartphones, compressed gas, shrimp feed, lab-grown diamonds, machinery for manufacturing lithium-ion cells for EVs.
Costlier: Cigarettes, bicycyles, imitation jewellery, air travel, electric chimney, copper scrap, textiles.
