Budget 2025 Price Impact: Know What Got Expensive & What Became Cheaper

New Delhi (The Uttam Hindu): Union Finance Minister Nirmala Sitharaman presented the Union Budget for the financial year 2025-26 in the Lok Sabha on Saturday. Due to the announcements made in the budget, the prices of many things are likely to increase, while many things will also become cheaper.

The government has announced zero customs duty on capital goods used for companies making lithium ion batteries. This is expected to reduce the prices of mobile phones and electric vehicles. Many medical devices, life saving drugs and cancer related medicines have been added to the list of zero basic customs duty. This will also reduce their prices. Basic customs duty on various categories of imported motorcycles has been reduced by five to 20 percent.

To boost the domestic textile industry, the import duty on small and medium looms has been reduced from 7.5 to zero. This will encourage MSMEs in this sector and is expected to reduce the prices of clothes. By reducing the import duty on wet blue leather and crust leather to zero, their products are also expected to become cheaper. Apart from this, television sets are expected to become cheaper by reducing the duty on import of capital goods for open cells manufacturing from 2.5 percent to zero for LCD/LED TV sets.

The import duty on various categories of readymade garments has been increased to 20 percent or Rs 115 per kg (whichever is higher). Apart from this, custom duty on interactive flat panel displays has been increased from 10 percent to 20 percent. This will also increase their prices.