Finance Minister Nirmala Sitharaman, in one of the most critical budget for the Indian economy in recent times, announced increased duty on some products in order to promote domestic manufacturing. Due to this, items like cotton and leather will now become more expensive. Mobile phones will also get costlier as government withdrew exemptions from some parts. Duty on shrimp feed has also been increased from 5% to 15%.
Government has decided to cut duty on copper scrap to 2.5% and items like iron and steel will also become cheaper.
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Following is a list of items that will become costlier:
Mobile phones
Chargers
Power banks
Cars
MSME products
Cotton
Raw silk
Solar invertors
Shrimp feed
Gems
Leather shoe
Crude palm oil
Crude sunflower oil
Crude soyabean
Compressors for refirgerators and air conditioners (ACs)
LED lamps
Pulses
Apple
Coal
Following is a list of items that will become cheaper:
Iron
Steel
Nylon
Chemicals
Silver
electricity
