These special things that millions of people in the country like will be expensive from tomorrow - find out soon.
The government has increased spending on health in the 2021-22 general budget. But to offset these costs, excise and import duties on many products have been increased. Also, Agri Infra cess has been imposed on many items, which is being implemented only from February 2, 2021. Find out what's going to be more expensive and cheaper on a budget.
Alcohol will be expensive!
The government has announced that the new Agri Infra Development Cess will be implemented from tomorrow. It will also be more expensive to drink alcohol from tomorrow, as the budget has imposed 100 per cent agri infra cess on alcoholic beverages.
In the budget, infra cess has been imposed on petrol at Rs 2.5 per liter and on diesel at Rs 4 per liter. Seeing this, it seems that petrol and diesel prices may go up from tomorrow.
The government has imposed 17.5% agri infra cess on crude palm oil, 20% cess on crude soybean and sunflower oil. But Basic Customs Duty (BCD) has been levied on consumers to curb this extra cost.
Gold and silver may get cheaper in April!
Excise duty on gold-silver has been cut in the budget. It has been reduced from 12.5% to 7.5%. At the same time, excise duty on gold-silver biscuits has also been reduced. In such a scenario, gold is likely to become cheaper.
However, with this, the government has imposed agri infra cess on gold and silver at the rate of one per cent. With this, gold and silver prices are expected to rise on an immediate basis.
Auto parts can be expensive but vehicles can be cheap!
The government has increased the customs duty on auto parts selected in the budget from 7.5% and 10% to 15%. At the same time, the excise duty on nut-bolts has also been increased from 10% to 15%. This is not likely to make vehicles more expensive.
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This is because the government has reduced the customs duty for the steel sector to 7.5 per cent. In addition, a vehicle scrap policy has also been announced, which may lead to a reduction in the cost of vehicles.
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