Union Budget 2021: Here is what will be dearer and cheaper now

The finance minister also said the budget stands on six pillars—health and wellness, physical and financial capital and infrastructure, inclusive development for aspiring India, To infuse new life into human capital, innovation and R&D, and minimum government and maximum governance.

Finance minister Nirmala Sitharaman on Monday presented the Union Budget for the fiscal year of 2021-2020. This year, the budget was aimed at boosting the economy which is reeling under the devastating impact of the coronavirus lockdown. "This budget provided every opportunity for the economy to capture the pace it needs for sustainable growth," said the finance minister as she tabled the government’s financial statement of the year.

FILE PHOTO: Woman looks at a gold necklace at a jewellery showroom during Dhanteras, a Hindu festival associated with Lakshmi, the goddess of wealth, amidst the spread of COVID-19 in Kolkata, India, November 13, 2020. REUTERS/Rupak De Chowdhuri/File Photo (REUTERS)

The finance minister also said the budget stands on six pillars—health and wellness, physical and financial capital and infrastructure, inclusive development for aspiring India, To infuse new life into human capital, innovation and R&D, and minimum government and maximum governance.

India boosted its healthcare spending by 137 per cent in a budget unveiled on Monday and lifted caps on foreigners investing in its vast insurance market to help revive an economy that suffered its deepest recorded slump as a result of the pandemic. Delivering her budget statement to Parliament, Sitharaman projected a fiscal deficit of 6.8 per cent of gross domestic product for 2021-22.

She also proposed a custom duty hike on imported parts which would lead to commonly used items including refrigerators, air conditioners, LED lights and mobile phones to become expensive. While gold and silver will become cheaper as a result of rationalisation in customs duty on imports of these precious metals.

Here is the full list of what will get dearer and what will be cheaper:

Dearer

1) Compressors for refrigerators and air conditioners

2) LED lamps

3) Raw silk and cotton

4) Solar inverters and lanterns

5) Automobile parts such as safety and toughened glass, windscreen wipers

6) Mobile phone parts like printed circuit board assembly (PCBA), camera module, connectors, back cover

7) Mobile phone charger

8) Leather products

9) Nylon fibre and yarn

Cheaper

1) Gold

2) Silver

3) Other precious metals like platinum and palladium

4) Medical devices imported by international organisation and diplomatic missions