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What's costlier and what's cheaper
Finance Minister Pranab Mukherjee presented the Union Budget 2010-11 in parliament on Friday. While the finance minister made the tax payers happy by providing more tax relief, he made the smokers and potential car buyers unhappy by raising the excise duty on cigarettes and cars.
However, the proposed hike in excise duty on petroleum and the consequent increase in the prices of petrol and diesel will have a cascading effect on prices of almost all goods as transportation costs will rise.
The proposal to increase petroleum prices stirred a hornet's nest in Parliament on Friday with the entire Opposition staging a walkout in the Lok Sabha and warning that they will not allow Parliament to run till a rollback is announced.
The Opposition said this move would lead to rise in prices of all commodities.
What effect is the Budget going to have on your daily life? Find out how what's cheaper and what's costlier after the Budget.
Mobiles to be cheaper
Mobiles and mobile accessories will be cheaper on account of some tax concessions offered on these items by the finance minister.
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What's costlier and what's cheaper
Car makers hike prices
Major auto makers in the country on Friday reacted to the government's decision to increase the central excise duty to 10 per cent by saying they will increase car prices -- possibly by up to Rs 25,000.
While the country's largest car maker, Maruti Suzuki India, said its car will become costly by two per cent, Hyundai Motor India said it will result in a price rise of Rs 6,500-25,000 on average.
"Car prices will go up by about two per cent. This is essential to offset the increase in central excise duty announced by the finance minister today," MSI chairman R C Bhargava said.
The government on Friday increased the central excise duty by two per cent to 10 per cent, partially rolling back the cut made earlier.
Meanwhile, a Hyundai Motor spokesperson said: "We will be forced to hike our prices by Rs 6,500 to Rs 25,000." Volvo Auto India also said that the increase in excise duty will result in increase of price of its cars.
What's costlier and what's cheaper
Set top boxes to be cheaper
Following the announcement of the Union Budget for 2010-2011, set top boxes will be cheaper on account of tax concessions offered by Finance Minister Pranab Mukherjee.
What's costlier and what's cheaper
Television sets to be costlier
Consumers will have to pay more for television as the government announced on Friday hike in excise duty as part of a partial roll back of stimulus measures announced for reviving the economy.
Finance Minister Pranab Mukherjee announced this while presenting the Union Budget for 2010-2011 in Parliament on Friday.
What's costlier and what's cheaper
Cigarettes to cost more
Think twice when you light up your cigarette this evening.
Apart from affecting your health, it will also burn a hole in your pocket.
For, as a direct fallout of the Union Budget announced on Friday, consumers will have to pay more for cigarettes.
What's costlier and what's cheaper
Gold and silver to be more expensive
Post Budget, consumers will have to pay more for gold and silver.
This is because Finance Minister Pranab Mukherjee announced hike in excise duty as part of a partial roll back of stimulus measures announced for reviving the economy.
What's costlier and what's cheaper
Hike in petro prices
Petrol and diesel prices are to go up by Rs 2.67 a litre and Rs 2.58 a litre respectively in Delhi from midnight on Friday, said government officials.
This resulted from the proposed changes in duties related to petroleum products in the Union Budget presented by Finance Minister Pranab Mukherjee in the Parliament on Friday.
What's costlier and what's cheaper
Air travel to become costlier
Air travel on all classes in both domestic and international sectors is likely to become costlier with the government expanding the scope of air transport services to attract service tax.
"The scope of air passenger transport service is being expanded to include domestic journeys and international journeys in any class," said the memorandum explaining the provisions of the 2010-11 Finance Bill, presented by Finance Minister Pranab Mukherjee in Parliament today.
What's costlier and what's cheaper
Cosmetics to be costlier
Beauty creams, hair oil, shampoos and other household items will witness increase in prices, with FMCG firms saying on Friday that the excise duty hike announced in the Budget will add to cost.