A Gift for Women
In the 2024 budget, the Finance Minister also gave a significant gift to women. She reduced the customs duty on gold and silver to 6 per cent. This made jewellery made from gold and silver cheaper. This was a major relief for women who are fond of jewellery.What Will Become Cheaper and More Expensive in the 2025 Budget?
Products That May Become Cheaper in 20251- Electronics and gadgets (smartphones, laptops, smart TVs), there is a possibility of a reduction in import duty on these products.
2- Electric vehicles (EVs) are also expected to receive subsidies or tax incentives to promote clean energy.
3- Tax breaks are likely to increase access to life-saving medicines (treatments for cancer and rare diseases).
4- Government support and duty cuts to reduce the production cost of textiles and garments.
5- If there is a tax cut on electronic appliances, washing machines, ACs and refrigerators could become cheaper.
6- Government incentives are likely for solar panels and renewable energy products to adopt green energy.
7- Tax benefits or interest rate cuts on home loans for affordable housing are likely.
Products That May Become More Expensive in 2025
1- GST is likely to increase on luxury goods and premium products related to high-class electronics.
2- There is a possibility of an increase in customs duty on imported automobiles, such as luxury and high-end imported cars.
3- There is a possibility of a tax increase on tobacco and cigarettes as a health measure.
4- An increase in excise duty is expected to reduce alcohol consumption.
5- There is a possibility of an increase in import duty on precious metals like gold and silver.
6- An increase in aviation fuel tax related to air travel could affect ticket prices.
7- Mobile recharge plans and internet services may become more expensive due to the increasing cost of telecom infrastructure.
1- GST is likely to increase on luxury goods and premium products related to high-class electronics.
2- There is a possibility of an increase in customs duty on imported automobiles, such as luxury and high-end imported cars.
3- There is a possibility of a tax increase on tobacco and cigarettes as a health measure.
4- An increase in excise duty is expected to reduce alcohol consumption.
5- There is a possibility of an increase in import duty on precious metals like gold and silver.
6- An increase in aviation fuel tax related to air travel could affect ticket prices.
7- Mobile recharge plans and internet services may become more expensive due to the increasing cost of telecom infrastructure.
