Budget 2021: Full List of Cheaper and Costlier Items

On Monday, Finance Minister Nirmala Sitharaman presented the Union Budget for the financial year 2021-22, also the first budget of the decade. In her speech, the finance minister said that this year's budget lays down the vision for an Atmanirbhar Bharat.

"This Budget provides our economy with every opportunity to race and capture the pace that it needs for a sustainable growth," Sitharaman said.

While budget allocations were made for various departments and ministries, a common person in India focuses on the Union Budget to see how the announcements made will affect his/her earnings and expenditures.

As FM Sitharaman concluders her Budget 2021 speech, here are things that got costlier or cheaper for the upcoming financial year 2021-22:

What got costlier?

• Electronic items
• Mobile Phones: some parts of mobiles will move from the 'nil' rate to a moderate 2.5%
• Chargers: a few exemptions on parts of chargers and sub-parts of mobiles will be removed.
• Synthetic Gemstones
• Imported leather items
• Solar invertors: duty raised from 5% to 20%.
• Solar lanterns: duty raised from 5% to 15%.
• Auto parts: customs duty on certain auto parts to be increased to 15%.
• Steel screws: Duty raised from 10% to 15%
• Plastic builder wares: Duty raised from 10% to 15%
• Cotton: Customs duty to be raised from 'nil' to 10%
• Raw silk and yarn silk: Customs duty to be raised from 10% to 15%.
• Gold, Silver and dore bars
• Alcoholic beverages (falling under chapter 22)
• Crude palm oil
• Crude soyabean and sunflower oil
• Apples
• Coal, lignite and peat
• Specified fertilizers (Urea etc)
• Peas
• Kabuli Chana
• Bengal Gram/Chick peas
• Lentil (Mosur)

What got cheaper?

• Iron
• Steel: customs duty reduced uniformly to 7.5% on semis, flat, and long products of non-alloy, alloy, and stainless steels. Duty on steel scrap exempted up to 31 March 2022. ADD and CVD revoked on certain steel products.
• Nylon clothes: BCD rates on caprolactam, nylon chips and nylon fibre & yarn reduced to 5%.
• Copper items: Duty on copper scrap reduced from 5% to 2.5%.
• Insurance
• Shoes
• Naptha: Customs duty on Naptha reduced to 2.5% to correct inversion.
• Tunnel boring machine: customs duty reduced to 7.5%.

- to be updated