![What’s Cheaper and What's Costlier in the BUDGET? Here's the list](https://media.newstracklive.com/uploads/latest-news/india-news/Jul/23/big_thumb/Budgets2_669f8f3640c23.jpeg)
Jul 23 2024 04:39 PM
Finance Minister Nirmala Sitharaman unveiled the Union Budget for the fiscal year 2024-2025 today, marking her seventh budget presentation. This budget, the first of the BJP-led NDA government's new term, introduces several changes aimed at impacting various sectors from infrastructure to social welfare.
One of the significant aspects of Budget 2024 is the revision in customs duties on various items. The budget aims to make essential goods more affordable by lowering duties on items like cancer medicines and mobile phones. Here's a breakdown of what’s becoming cheaper and what’s going up in cost:
In addition to these changes, the budget includes an increase in the standard deduction for salaried employees under the new tax regime, raising it from Rs 50,000 to Rs 75,000. This move is expected to benefit many taxpayers.
Overall, while some items will see a drop in prices due to reduced customs duties, others will experience an increase in costs. These adjustments aim to balance consumer affordability with economic impacts, including trade deficits and currency pressures.
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