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Updated 14:24 IST, February 1st 2025

Union Budget 2025: What Got Cheaper and Costlier? List

The Union Budget 2025-26 introduces significant changes affecting consumer costs and industrial growth.

Reported by: Business Desk
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Union Budget 2025: What Got Cheaper and Costlier? List
Union Budget 2025: What Got Cheaper and Costlier? List | Image: Republic

In a bid to stimulate economic growth and support consumer affordability, the Union Budget 2025-26 has implemented several measures aimed at reducing import tariffs on essential items. Mobile phones and accessories, for instance, are set to become more affordable following the inclusion of 28 new items related to mobile phone battery production under exempted capital goods. This move is expected to bolster the domestic manufacturing sector, aligning with the government's 'Make in India' initiative.

Finance Minister Nirmala Sitharaman highlighted the importance of these measures, stating, "Our goal is to enhance the spending power of India’s middle class while fostering industrial growth. By reducing duties on critical products, we aim to make these items more accessible to consumers across the country."

Items That Got Cheaper
Mobile Phones & Accessories – Duty exemptions on 28 new items related to mobile battery production to boost local manufacturing.
Lifesaving Drugs & Medicines – 36 essential medicines fully exempted from Basic Customs Duty to lower healthcare costs.
3Electric Vehicle (EV) Batteries – Reduced customs duties to make EVs more affordable and accelerate green energy adoption. Frozen Fish Paste (Surimi) – Customs duty cut from 30% to 5% to support seafood manufacturers and exporters.
Wet Blue Leather – Duty reduction to benefit the leather industry and improve export competitiveness.
Critical Minerals – Duty cuts on 12 essential minerals used in electronics and battery production.
LEDs & Marine Products – Duty relief to promote energy-efficient technologies and boost marine exports.
Raw Materials for Ship Manufacturing – Duty exemption extended for 10 years to support the maritime sector.

Items That Got Costlier
Flat Panel Displays – Customs duty increased from 10% to 20% to promote local production.
Plastic Products – Higher duties to encourage domestic manufacturing and reduce imports.
Telecom Equipment – Increased customs duty to boost local production and reduce foreign dependency.
 

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Published 14:01 IST, February 1st 2025