Union Budget 2021: Gold and Silver to be cheaper, phones to get costlier

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 

Gold

Silver

Insurance

electricity