What's cheaper and what's expensive after the 2022 Union Budget?

The Union Cabinet headed by Prime Minister Narendra Modi on Tuesday approved the Budget 2022-23, sources said. The Budget was presented by Finance Minister Nirmala Sitharaman in the Lok Sabha.

As proposed by the finance minister in the Union Budget for 2022-23, a large number of commonly used items, including mobile phones and mobile phone chargers, are set to become cheaper.

Following are the items that will become costlier or cheaper after customs duty changes post-Union Budget 2020-21

Cheaper

• Domestic electronic wearable devices, hearable devices and electronic smart meters.
• Mobile phone parts: Duty concessions are being given to parts of the transformer of mobile phone chargers and camera lens of mobile camera module and certain other items.
• Gems and jewellery: Customs duty on cut and polished diamonds and gemstones are being reduced to 5%.Simply sawn diamond would attract nil customs duty. To facilitate the export of jewellery through e-commerce, a simplified regulatory framework shall be implemented by June this year, Nirmala Sitharaman said. 
• Chemicals: Customs duty on certain critical chemicals namely methanol, acetic acid and heavy feedstocks for petroleum refining are being reduced.
• Machines from foreign nations
• Farming goods

Costlier:

• Duty on umbrellas is being raised to 20 per cent
• All imported items