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Budget: What's cheaper, what's costlier?

Last updated on: July 11, 2014 14:09 IST

Budget: What's cheaper, what's costlier?

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Finance Minister Arun Jaitley presented the Union Budget in Parliament on Thursday.

What has been the impact of this Budget on your daily life?

Find out what's cheaper and what's costlier after the Budget. . .

Mobiles to cost more

Consumers may have to shell out more money for buying mobile phones as the government has proposed education cess on imported electronic products.

The move may push up costs of handsets by up to 8 per cent, especially smartphones that are mostly imported, analysts said.

Presenting his maiden Budget, Finance Minister Arun Jaitley said the demand for electronics is growing very fast.

He said the government will "exempt all inputs/components used in the manufacture of personal computers from 4 per cent special additional duty (SAD) and impose education cess on imported electronic products to provide parity between domestically produced goods and imported goods".

According to the Budget document, the education cess for all taxpayers will be 3 per cent in the 2014-15 fiscal.

Reacting to the proposal, IDC South Asia VP and General Manager Jaideep Mehta told PTI: "The education cess on imported electronics, including PCs and smartphones, will challenge consumption growth as it will increase street prices."

Greyhound CEO Sanchit Vir Gogia said manufacturing is still in nascent stages in India.

"There is hardly any manufacturing that is done in the country. Considering that most handsets are imported and add to that the education cess, we could see prices going up as much as 7-8 per cent," he added.

Please click NEXT to read further. . .

 


Photographs: Reuters

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It's time you kicked the habit of smoking as it will not only affect your health but will also burn a hole in your pocket.

While presenting the Budget for 2014-15, Jaitley proposed to increase the specific excise duty on cigarettes in the range of 11 per cent to 72 per cent.

Excise duty has been increased by 72 per cent on cigarettes of length not exceeding 65 mm and by 11 per cent to 21 per cent for cigarettes of other lengths.

Similar increases have also been proposed on cigars, cheroots and cigarillos.

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Image: A man smokes a cigarette on a pavement in Siliguri.
Photographs: Rupak De Chowdhuri/Reuters

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Jaitley scrapped basic customs duty on colour picture tubes while he presented the Union Budget in the Parliament on Thursday.

Customs duty was cut to nil on import of LCD, LED Panels.

Hence, television sets, LCD and LED below 19 inch will be cheaper.

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Image: Workers at LG Electronics India Pvt Ltd. assemble television sets inside a factory at Greater Noida in Uttar Pradesh.
Photographs: B Mathur/Reuters

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The Finance Minister had some good news for those in love with diamonds while he presented the Union Budget in Parliament on Thursday.

The jewellery sector will gain from duty rationalisation of diamonds.

However, post Budget, half cut and broken diamonds will be more expensive.

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Image: A model wearing diamond jewellery.
Photographs: Denis Balibouse/Reuters

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Finance Minister Arun Jaitley's Union Budget failed to cheer the imported flat-rolled stainless steel industry as the latter will suffer 7.5 per cent customs duty, up from 5 per cent post Budget.

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Image: A workers walks through finished steel bars of different quality and size at a mill.
Photographs: Michaela Rehle/Reuters

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Jaitley reduced duty in petrochemical products.

This is likely to impact Reliance's margins from this business.

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Image: RIL Chairman Mukesh Ambani with his wife Nita.
Photographs: Reuters

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Planning to buy a new computer? This is the right time.

Post Union Budget, computers will be cheaper.

Prices of e-book readers, desktop, laptops and tablets will also come down.

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Photographs: Reuters

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The Finance Minister reduced excise duty on footwear to 6 per cent from 12 per cent while he presented the Budget in the Parliament on Thursday.

As a result, footwear priced between Rs 500 and Rs 1000 per pair is set to be cheaper.

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The Finance Minister proposed to mobilise resources by increasing excise duty on aerated drinks with sugar.

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Photographs: Courtesy, Coca-Cola

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Jaitley reduced duty on fatty acid and glycerine.

This will make soaps and oil products cheaper.

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Photographs: Phanton/Wikimedia Commons

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Certain inputs used in solar power equipment were fully exempted from basic customs duty.

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Image: A man cleans panels installed at a solar plant at Meerwada village of Guna district in the central Indian state of Madhya Pradesh.
Photographs: Adnan Abidi/Reuters

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Are you in love with pan masala, gutka, chewing tobacco or jarda scented tobacco?

It's time you cut down your tobacco intake.

All these will be costlier post Union Budget.

For, Finance Minister Arun Jaitley raised the excise duty on all these products in this year's Budget.


Image: A man prepares chewing tobacco in Allahabad.
Photographs: Jitendra Prakash/Reuters

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Do you avail of the radio taxi for your daily commute to office?

You may be forced to opt for an ordinary one as radio taxi fares are set to go up post Budget.


Photographs: Courtesy, Meru Cabs
Tags: 1

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Did you put off your plan to buy that lovely imported television set for some time?

Well, you made a mistake.

For, post Budget, imported electronic products will be more expensive.

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Image: The super-sharp Regza 3D glasses-less television from Toshiba.
Photographs: Chidi Nobi/Reuters
Tags: 1

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Portable X-ray machines will cost more post Budget.

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Is it time to replace the old water purifier at home?

Go for an reverse osmosis-based water purifier as that will cost less post Budget.

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Tags: RO

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Are you in love with precious and semi-precious stones?

Right time to do your shopping now.

For, post Budget, their prices are set to come down.

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Image: Indian models pose with gold and precious stones combined ornaments during a fashion show by Indian student designers in Kolkata.
Photographs: Reuters
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Has your kid been whining to buy a new pair of sports gloves?

Don't make him wait.

Sports gloves will be cheaper post Budget.

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Photographs: Scott Gries/Getty Images
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Want to try branded petrol for your car?

Go for it.

It will cost Rs 5 a litre less after Budget.

The Finance Minister cut central excise duty from Rs 7.5 per litre to Rs 2.35 a litre.

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Photographs: Photo Illustration by Miguel Villagran/Getty Images
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Guess what? Though a packet of cigarettes will cost you more, matchbox will cost less post Budget.

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Photographs: Jith JR/Wikimedia Commons
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Have you been planning to buy your family life micro insurance policies?

It's time you made the purchase as these policies will cost less post Budget.

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Photographs: Illustration by Dominic Xavier/Rediff.com
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This Budget offered some good news for HIV/AIDS patients.

For, HIV/AIDS drugs and diagnostic kits will be cheaper henceforth.

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The image is for representational purpose only


Photographs: Photo Illustration by Justin Sullivan/Getty Images
Tags: AIDS , HIV

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Finance Minister said the government is bent on improving the state of the Indian farmers.

No wonder, therefore, DDT insecticides will cost less post Budget.

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The image is for representational purpose only


Photographs: Xanthis/Wikimedia Commons
Tags: DDT

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Online and mobile advertising will become expensive post Budget as service tax leviable currently, on sale of space or time for advertisements in broadcast media has been widened.


Image: A woman checks her Samsung Galaxy phone.
Photographs: Max Rossi/Reuters
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