Union Budget 2025-26: What Becomes Cheaper and What’s Costlier? Check Full List Here

Mumbai, February 1: Finance Minister Nirmala Sitharaman presented the Union Budget for 2025-2026 on Saturday, February 1, marking her eighth consecutive presentation. This is the second full budget under the Modi 3.0 government, following its re-election in the 2024 Lok Sabha Elections. In this article, we at LatestLY shed light on the items that have become cheaper and costlier after the Union Budget 2025-26.

The budget prioritises ten key sectors, including agriculture, manufacturing, employment, MSMEs, rural development, and innovation, with a focus on transformative reforms. As the budget rolls out, attention turns to the items that have become more affordable or more expensive for consumers. Income Tax Slabs 2025: Nil Tax for Individuals Earning up to INR 12 Lakh Annually Under New Regime, Says FM Nirmala Sitharaman.

List of Items That Have Become Cheaper After Budget 2025

• Mobile phones: 28 additional goods for mobile phone battery production to come in the list of exempted capital goods.
• 36 Lifesaving drugs and medicines to be added to the list of medicines fully exempted from Basic Customs Duty.
• EV batteries
• Wet Blue leather
• Carrier-grade ethernet switches
• 12 Critical minerals
• Open cell
• LED/LCD
• Medical equipment
• Basic Customs Duty exempted on raw materials for manufacturing ships for another 10 years.
• Marine products
• Cobalt products
• Zinc, lithium-ion battery scrap

List of Items That Have Become Costlier After Budget 2025

• Flat panel display
• Knitted Fabrics

A new two-year time limit for provisional assessments has been introduced to streamline customs clearance, aiming to enhance speed and efficiency. This reform is set to benefit the import and export industries by making the process more transparent and predictable. Narendra Modi Led-Government To Introduce New Income Tax Bill in Parliament Next Week; To Raise Insurance FDI to 100%, Says FM Nirmala Sitharaman (Watch Video).

In a major relief for middle-class taxpayers, Finance Minister Nirmala Sitharaman on Saturday announced that individuals earning up to INR 12 lakh annually will not have to pay any income tax under the new tax regime. Nirmala Sitharaman also announced that the government will introduce the new income tax bill in Parliament next week. “The government will introduce a new Income Tax bill next week in Parliament to take forward 'trust first, scrutinise later' concept. New income tax bill will be half of the current volume; clear and direct in wording,” the minister said in her Budget 2025 speech in Parliament.

(The above story first appeared on LatestLY on Feb 01, 2025 01:05 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).