The Union Finance Minister Nirmala Sitharaman presented the full-fledged Union Budget 2023 for one last before the next election and here’s a brief report on what got cheaper and what got costlier following the new budget presentation.
The center removed customs tax on camera lenses for a year. The customs tax on TV parts has been deducted from 5% to 2.5% so they might get cheaper soon. The import charges on Silver has been spiked, which might lead to the commodity prices going up. Lithium Ion Battery customs tax has also been reduced. Prawns custom duty has also been reduced.
What might get cheaper?
Mobile phones, laptops, DSLR lenses.
Electric vehicles, lithium ion batteries.
Diamond manufacturing equipment
What might get costlier?
Gold, and platinum manufacturing equipment.