The Union Finance Minister (FM) Pranab Mukherjee tabled the Union Budget in the Parliament of India on 16 March 2012 for the fiscal year 2012-13. The total expenditure for 2012-13 budgeted at Rs 1490925 crore.
The Finance Minister raised the prices of few commodities in the proposed Union Budget 2012-13 but at the same time he lowered the prices of some commodities too.
The Finance Minister proposed to increase the prices of large cars (SUVs), steel prices, refined gold, oil and fuel price. The minister also proposed to remove any duty on import of silver jewelleries. Basically prices of the day-to-day items went up in comparison to luxurious products. The detailed list is mentioned below
List of the commodities/ items in which Government suggested a price hike
- Gold jewellery
- Platinum jewellery
- Diamond jewellery
- Refrigerator
- Luxury cars
- Air travel
- Telephone bills
- Sports Utility Vehicles (SUVs)
- Cigarettes
- Handrolled beedis
- Emerald
- Ruby
- Branded retail garments
- Steel products
- Hiring a Law Firm
- Hotel accommodation
- Air Conditioners
- Eating out at Restaurants
- Oil/ Fuel prices
Keeping in mind the concerns of the common public, the Finance Minister also lowered the prices of many necessary commodities such as Mobile phones and Iodised Salt. The detailed list is mentioned below
List of the commodities / items in which the prices were lowered
- Cinema and films
- LCDs and LEDs (Liquid Crystal Display and Light Emitting Diode products)
- Imported bicycles
- Housing society charges
- LPG (Liquid Petroleum Gas: Household Cylinders)
- Mobile phones
- School education
- Iron ore equipment
- Medicines for treating Cancer and HIV
- Processed food
- Iodised salt
- Match boxes
- Soya products
- Solar power lamps
- LED bulbs
- Natural gas
- Uranium for generation of electricity
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