Union Budget 2021: What Got Dearer & What Will Be Cheaper – Check Complete List

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;
  • Naphtha;
  • 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;
  • 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;
  • Polycarbonates;
  • 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;
  • Lamps;
  • Solar Inverters; and
  • Solar lanterns or solar lamps