Union Budget 2021: 10 things consumers should know

NEW DELHI: Finance minister Nirmala Sitharaman proposed a massive spending boost to lift the pandemic-hit economy in Union Budget 2021-22. Here are the 10 top things that consumers should know:

1) Fake bling may cost you more as basic customs duty on import of synthetic precious stones has been increased from 10% to 15%. Imitation jewellery costing Rs 10,000 may now cost approximately Rs 10,250.

2) On the other hand, effective customs duty on imported gold & silver has been dropped. A 10gm gold coin costing Rs 51,000 may now be cheaper by Rs 850.


3) Shock-proofing your house with imported insulated cables could pinch your pocket more as basic customs duty thereon has increased from 7.5% to 10%. Imported insulated cable costing Rs 500 per metre may now cost Rs 512 per metre.

4) Sustainability comes at a steep cost as basic customs duty has been hiked on imported solar inverters from 5% to 20% and solar lamps from 5% to 15%. An imported Luminous solar inverter costing Rs 3.5 lakh will now be dearer approximately by Rs 50,000.

5) It is time to redecorate your home as effective customs duty on marble and travertine blocks falls from 44% to 40% due to exemption in Social Welfare Cess. Tiling the floor of your house with Italian marble currently costing Rs 10 lakh should now become cheaper by approximately Rs 30,000.

6) Keeping a doctor away is now lighter on the pocket as the effective customs duty on imported apples has been reduced from 75% to 50%. Imported apples from New Zealand will cost Rs 200 per kg instead of Rs 250 per kg.

7) Grocery shopping to now be lighter on the pocket as effective rate of customs duty on peas, chickpeas, kabuli chana, Bengal gram, lentils has reduced from 70% to 40%-60%. Imported chickpeas costing Rs 500 per kg is likely to be cheaper by Rs 70.

8) You will pay more for the same brightness as customs duty on imported LED lights has been increased from 10% to 15%. Imported Philips 6 Watts smart LED lights costing Rs 7,500 may now cost Rs 7,800.

9) Indulging in your child’s latest demand could be costlier by 2% to 4% as duty on parts of electronic toys increases from 5% to 15%. A remote-controlled car made with imported components and currently costing Rs 5,000 is likely to cost Rs 5,200

10) Upgrading your swanky ride with imported accessories would be a costlier affair as import duty on windscreens wipers, defrosters, demisters and safety glasses has increased from 10% to 15%. A Bosch windshield wiper costing Rs 3,000 would now cost approx. Rs 3,150.

(Methodology: We have taken the retail price of popular brands, factored in a tentative distributor’s margin and then computed the indicative cost of imported goods after considering the impact of budget announcements)

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