New Delhi, February 1: The Union Budget 2021 was presented by Nirmala Sitharaman on Monday. The Union Budget 2021 focused on Prime Minister Narendra Modi’s Vision of Atma Nirbhar Bharat or Self Reliant India. It was the first budget after the outbreak of COVID-19 in India.  Most Importantly, price of  alcohol, home appliances and mobiles will go up, while the government cut the custom duty on several other things making them cheaper. Agriculture Infrastructure Cess of 40% on Peas, Rs 2.5/Litre on Petrol, 100% on Alcoholic Beverages, 50% on Chick Peas in Budget 2021-22; Check Complete List.

Notably, the Centre imposed agri cess has been imposed on Petrol and diesel. Agri Infra cess has also imposed on gold, silver and alcoholic beverages. Crude palm oil will also become more expensive as 17.5 percent agri infra cess has been imposed. The government also increased customs duty on Cotton and silk, therefore cloth will likely to become expensive. Rail Budget 2021: Rs 1.10 Lakh Crore Allocated For Indian Railways, Rs 1.07 Lakh Crore For Capital Expenditure Only.

Here Are List of Things Which Will become Costlier:

  • Cotton

  • Mobile chargers

  • Gemstones

  • LED

  • Ethanol

  • Mobile phones

  • Crude Palm Oil

  • Cars

  • electronic appliances

  • Leather Items

  • Shoes

  • Mobiles And Home Appliances

  • Air Conditions are likely to get expensive as custom duty on its components (compressor) has been increased

  • Refrigerators as custom duty on its component (compressor) has been hiked from 12%-15%

  • Motor vehicles because custom duty on safety glass has been increased from 10%-15%.

Things Which Will Become Cheaper:

  • Custom Solar Lanterns

  • Nylon Clothes

  • Gold and Silver

  • Silver Dore

  • Steel Utensils

  • Automobile spare parts as customs duty on scrap has been deducted

However, the Finance Minister said that the government would not put any additional burden on consumers on most items. Sitharaman stated, "Consequent to imposition of Agriculture Infrastructure and Development Cess (AIDC) on petrol and diesel, Basic excise duty (BED) and Special Additional Excise Duty (SAED) rates have been reduced on them so that overall consumer does not bear any additional burden."

In 2021-22 Budget, Sitharaman did not announce a change in income tax slabs for individuals. The only change was that senior citizens above 75 years of age will be exempted from filing an income tax return if their source of income is only salary and interest.

This year, the Union budget was delivered in paperless form for the first time due to coronavirus pandemic. The Finance Minister read out the Budget for the financial year 2021-22 through a tab, making it the first digital budget on the Indian government. Traditionally, the budget was made in the form of "Bahi Khata", written or typed on papers.

(The above story first appeared on LatestLY on Feb 01, 2021 02:25 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).