Budget 2016-17: What’s become cheap, what’s become costly
Here is a complete list of items that will turn costly and items that will turn cheap as a result of the Union Budget 2016-17 tabled on Monday by FM Arun Jaitley.
Cars, cigarettes, branded garments, all services like bill payments, eating out, air travel will become more expensive, while footwear, solar lamps and routers are slated to be cheaper following a host of changes in the tax structure in the Budget for 2016-17. Diesel vehicles would see the highest increase in prices. The Finance Minister proposed a cess of 1 per cent on small petrol, LPG and CNG cars, 2.5 per cent on diesel cars of certain capacity and 4 per cent on other high-powered vehicles and SUVs.
Read more: Budget highlights
As a result of additional levy of Krishi Kalyan and infrastructure cess on all services, activities including eating out and payment of bills will also become more expensive.
List of items that will turn costlier: Water including mineral water, aerated water containing added sugar or sweetening matter; Aluminum foil; Air Travel; Plastic bags and sacks.
Read more: Budget highlights
List of items that will turn costlier: Gold bars; Imported Golf Cars; Instruments for VoIP (Voice over Internet Protocol); Hiring of packers & movers.
The government on Monday announced a Krishi Kalyan Cess of 0.5 per cent on all taxable services effective from June 1 this year to fund farm initiatives. It also proposed cut in excise duty on irrigation pumps and soil nutrients besides slashing import duty on cold storage related equipments.
Read more: Budget highlights
List of items that will turn costlier: Gold and Silver; jewelry articles excluding silver; E-reading devices; Ropeway, cable car rides; Lottery tickets.
Read more: Budget highlights
List of items that will turn cheap: Footwear; Solar lamp; Router, broadband modems and set top boxes, Digital video recorder and CCTV cameras; Hybrid electric vehicles; Sterilised dialyser; Low cost houses with less than 60 sq mt carpet area; Hiring of folk artists for performance; Refrigerated containers; Pension plans; Microwave ovens; Sanitary pads; Braille paper.
Read more: Budget highlights