As the new financial rings in apart from the tax changes that come into effect due to the implementation of Interim Budget 2019, some of the goods and services have become cheaper or expensive.
1.Loans likely to become cheaper:
In an earlier notification to bring in faster monetary rate transmission, the RBI advised banks to peg deposit and loan rates to an external benchmark such as repo rate and not the current MCLR rate. Also, in view of the slowing inflation and global growth concerns, it is highly likely that RBI in its first MPC review due on April 4 will slash repo rates lower and hence the burden on loan borrowers will be reduced with the reduction in interest rates.
2.Mutual Funds To Become Cheaper For Investors:
As per SEBI's new ruling, investors in mutual funds will now be able to save more as the TER or total expense ratio cannot be over 2.25. For closed ended schemes, the TER will be 1.25% while for schemes other than equity schemes, the TER has been fixed at 1%.
3.Affordable housing sector to get a boost with lower GST rate:
GST Council has slashed GST on housing sector, with 1% GST rate on affordable housing while for under-construction homes it has been reduced to 5%.
4.Autos set to become dearer:
In view of the scaling inventory as well as sluggish growth in sales, which has seen an almost 5-year low, vehicle manufacturers across the industry have been forced to hike prices. Also, the hike has come on the back of increase in input material cost due to the adoption of BS VI engines.
5.Dairy products set to become costlier:
As the inventory of skimmed milk powder has decreased plus there is less of supply of milk, milk price is set to go higher by Rs. 1-2. So, nearly all of the milk-based products.
6.Cardiac stents increase in price:
In correspondence to the WPI, NPPA has approved an increase in the price of stent by 4.2%. As per the new prices notified by the National Pharmaceutical Pricing Authority (NPPA), a bare metal stent (BMS) will be costing Rs 8,261 from April 1 onward, while the drug-eluting stent (DES) will cost Rs 30,080.