Bhubaneswar: Finance Minister Nirmala Sitharaman presented Union Budget 2021-22 in the Lok Sabha on February 1. This budget was special in many ways as it was being presented in the midst of a never-seen-before crisis as the COVID-19 pandemic.
Sitharaman quoted Rabindranath Tagore – “Faith is the bird that feels the light and sings when the dawn is still dark,” referring to the challenging circumstances we are battling today.
As the Budget for FY21-22 is announced, many commodities are set to become more expensive and some items of daily use will cost less. Let’s take a look.
Items that got cheaper: Iron, Steel, Nylon clothes, Copper items, Leather goods, Gold & Silver, Insurance, Shoes, and Agricultural equipment.
Details (Cheaper items):
- Flat products of non-alloy and alloy-steel;
- Long products of non-alloy, stainless and alloy steel;
- Raw materials used in manufacture of CRGO Steel;
- Copper Scrap;
- Components or parts, including engines, for manufacture of aircrafts by Public Sector Units of Ministry of Defence;
- Platinum, Pallidum;
- Waste and Scrap of Precious Metals;
- Nylon fibre and yarn;
- Iron and Steel melting scrap, including stainless steel scrap;
- Primary/Semi-finished products of non-alloy steel;
- Caprolactam; and
- Nylon Chips.
Items that got dearer: Mobile phones, Chargers, Power banks, Imported raw silk, Solar inverters, Leather items, Imported Gemstones, Tunnel boring machines, Kabuli chana, Pulses, Urea, and Imported Auto parts.
Details (costlier items):
- Cotton waste;
- Raw Silk (not thrown) and silk yarn/yarn spun from silk waste;
- Denatured ethyl alcohol (ethanol) for manufacture of excisable goods;
- Prawn Feed;
- Fish feed in pellet form;
- Flours, meals and pellets of fish, crustaceans, molluscs or other aquatic invertebrates;
- Maize Bran;
- De-oiled rice bran cake;
- Carbon Black;
- Plastics Builder’s ware of plastic, not elsewhere specified or included;
- Wet blue chrome tanned leather, crust leather, finished leather of all kinds, including their splits and slides;
- Cut and Polished Cubic Zirconia;
- Synthetic Cut and Polished Stones;
- Parts and components for manufacture of Tunnel Boring Machines;
- Metal products like Screws, Nuts, etc.;
- Plastic, for manufacture of charger or adapter;
- Compressor of Refrigerator/Air Conditioner;
- Specified insulated wires and cables;
- Inputs and parts of LED lights or fixtures including LED;
- Solar Inverters; and
- Solar lanterns or solar lamps