This year’s Union Budget has been a mixed bag for youngsters. While brand horses are unhappy with the rise in taxes on branded clothes, those who’ve been wanting to buy gold pendants for their girlfriends are rejoicing at the government’s move to remove excise duties on gold, silver and precious stones.
Technology buffs, too, are glad. “I’m so happy to know that LEDs and mobile phones will cost less,” says Nishant Jain, 21. What has most brows creased is the increase in costs of luxury clothing and services like hospitality and airfare.
“I just don’t know what the government has against luxury,” says Amrita Narang, 23. “Can’t believe brands will become dearer,” says Sonam Singh, 19.
Mobile Phones — cut in import duties of raw material
Sanitary napkins — excise tax reduced from 10% to 1%
LED-driven gadgets — excise cut to 5%
Green vehicles — duty reduced on hybrid & electric cars along with batteries imported
Precious stones, gold and silver jewellery — to be exempted from central excise duty the losers
Branded clothes — 10% excise duty on branded garments
Hotels — service tax on hotel accommodation above Rs 1,500 a day
Air travel services — charge of R50 service tax on domestic travel, R250 on international travel
AC restaurants serving liquor — to pay service tax