Budget effect: What's cheaper and costlier
New Delhi: Finance Minister Arun Jaitley's budget rings in a huge hike in the cost of cigarettes. The tax on cigarettes and other tobacco products has been hiked by 11 to 72 per cent.
A pack of 20 cigarettes could now cost around Rs 300, which had many commenting that "smoking is now more injurious to wealth."
Taxes have been levied on Tobacco products cigarettes (12-16 percent), cigars, unmanufactured tobacco and ghutka to go up. Jaitley justified what he described as "healthy measures", telling reporters that it "doesn't break my heart" to increase excise duty on what harms people's health.
Soft drinks will also be more expensive and so will radio taxi services. The price of mobile phones, cars and jewellery will come down.He has made ample allocations for sake of growth initiatives IT, Mobiles, TV and electronics sector.
Track how the Budget impacts your pocket, which commodity will cost you more or which commodity got cheaper and all the updates on Union Budget 2014 here. How would it affect your purse and family budget?
Here is a lowdown.
Costlier
Imported Stainless Steel
Imported electronic goods
Pan Masala
Beverages, Cool Drinks and Soda
Cigarettes(Excise duty increased from 11% to 72%)
Diamonds
Imported Clothes
Radio Taxi Service
Tobacco products
Cheaper
Personal computers, mobiles
Local electronic goods
Refrigirators
Packaged and processed foods
LCD, LED TVs below 19 inches
Petro chemical products
Soaps and cosmetics
footwear
Edible oils
TV picture tubes
Cement
Steel
Solar Panels
News Posted: 10 July, 2014
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