Are you excited about budget 2020? DO you want to know what this budget has in store for you?
The union budget 2020 was presented by Union Finance Minister Shri Nirmala Sitharaman in Parliament on 1st Feb 2020.
In order to encourage domestic companies for doing more work for country told in her Budget to hike in customs duty on many products ranging from kitchenware to tableware, electrical appliances, stationery footwear, furniture, and toys. As a result, certain products cost more. We are discussing various things that as a consumer you must know before doing a purchase. These are the pros of the union budget in 2020.
1. The baby’s health & happiness cost more as there is an increase in customs duty on imported baby food & toys.
2. Footwear for physical health and walnuts for mental health will become more expensive.
3. The customs duty on the import of sofa bed, mattress, LED lights and furniture has increased.
4. Crave a breakfast with toast and gourmet cheese? Imported dairy products like ghee, butter, cheese, edible oils & whey will price more. Moreover, kitchen appliances like tea, toasters, & coffee makers, cookers, ovens, and roaster attract higher customs duty.
6. If you are planning to purchase imported 10gm Swiss gold coins of Rs. 44,000 for gifting on this wedding season, then you must be ready to shell Rs 1,000 more. The import duty on the precious metal coins has increased from 10 percent to 12.5 percent.
7. Do you love long drives & want to have environment-friendly wheels? Customs duty has increased on imported electric vehicles and cars between 5 percent & 15 percent.
9. Smoking is injurious to health but also the taxes have been increased on cigarettes & tobacco products.
10. Fancy crockery is available at the fancier prices as custom duty has increased on ceramic kitchenware!
So, be updated with the union budget in 2020.