What's Costly and What's Cheap: Find out how Budget 2017 will affect your pocket?

Feb 1, 2017 17:10 IST
how Budget 2017 will affect your pocket

How Budget will affect your pocketAnswering the expectations of the 1.2 billion Indians, Finance Minister Arun Jaitley presented the Union Budget 2017 in the Parliament today. While expert analysis and opinions are already underway with even PM lending his support by terming the budget as ‘Utam’; for the common man, it all boils down to how the union budget 2017 will affect his pocket.

What's Costly and What's Cheap?

For a common man the Budget 2017 directly affects their pockets and therefore apart from the income tax slabs, they are also concerned about what becomes more expensive and cheaper as per the provisions of the budget. Like every year, FM Jaitley has tinkered with the custom and excise duty without any significant loss or gain to the exchequer. Put simply,

It means that the while some commodities have turned dearer there are plenty which are likely to turn cheaper in coming days.

Union budget 2017 what costly or what cheapInitial Analysis suggests the following commodities that are likely to turn cheaper or more expensive are listed in the table below:

Expensive

Cheaper

Cigarettes, pan masala, cigar, cheroots, bidis, chewing tobacco

Wind operated energy generator

Polymer coated MS tapes used in manufacturing of optical fibres

POS machines card and fingerprint readers

Cashew nuts (roasted and salted)

Fuel cell based power generating systems

Aluminium ores and concentrates

Group insurance for Defence services.

Silver coins and medallions

Solar tempered glass used in solar panels

Printed circuit board used in making mobile phones

Booking railway tickets online

LED lamp components

LNG- Liquefied natural gas


RO membrane elements for household usage


Vegetable tanning extracts used in making leather products

As stated in the table above, you can expect cigarettes and tobacco, silver coins, bidis, goods imported through parcels, pan masala, cashew nuts and water filter membranes to turn dearer.

On the other hand commodities such as printed circuit boards for mobiles, solar panels, LED lamps, micro ATMs, finger-print machines and Iris scanners are likely to become cheaper.

The list clearly showcases inclination of the government to push for a technological revolution as all electronics have seen a major tax cut while punishing expenditure on leisure goods and activities.

Is this article important for exams ? Yes11 People Agreed

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